Robison & Co

Cyber

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Cyber insurance for SMEs is more essential than ever

Cyber insurance for SMEs is more essential than ever

Cyber insurance for SMEs is more important than ever. As digital threats grow, small and medium businesses remain a primary target. Without the right protection, a single attack could lead to major financial loss, business disruption, and lasting reputational damage. But with the right cover and preparation, you can reduce these risks.

Let’s explore why cyber insurance matters and how to strengthen your business’s defences.

Why cyber insurance for SMEs is essential

Small businesses are often seen as easy targets by cybercriminals. They may lack the resources of larger firms, but the value of their data is just as high. One successful attack could result in data breaches, system shutdowns, and regulatory fines.

A tailored cyber insurance policy offers support when you need it most. It can cover recovery costs, customer notifications, business interruption, and legal expenses. But most importantly, it helps your business bounce back quickly.

Strong cyber protection isn’t just about cover—it’s about preparation.

Understanding cyber risks facing SMEs person adding authentication password layers to prevent scammers

Cyber threats have evolved. Today’s risks are more complex and more costly. For SMEs, the most common threats include:

  • Phishing attacks tricking staff into sharing login details

  • Ransomware that locks files and demands payment

  • Data breaches that expose sensitive customer information

These risks aren’t limited to large corporations. In fact, smaller businesses may be more vulnerable due to limited cybersecurity resources.

That’s why it’s vital to assess your risks and take action early.

Why off-the-shelf policies are not enough

Many SME owners rely on generic policies that offer little real protection. These policies often exclude key areas such as ransomware recovery or legal liability. That means you could still face high costs after an attack.

A bespoke cyber policy makes all the difference. It is built around your business’s specific risks, industry, and digital exposure. This gives you cover that truly reflects your day-to-day operations.

How to strengthen cyber resilience before a breach

A strong cyber insurance policy is only part of the solution. Preventing attacks in the first place is just as important. That starts with good risk management.

Here are some practical ways to boost your resilience:

  • Train employees to spot suspicious emails and scams

  • Use strong passwords and two-factor authentication

  • Keep systems updated and patched against known threats

  • Back up data regularly to reduce downtime after an attack

  • Appoint a clear response team in case of a breach

The more steps you take now, the easier it is to recover later.

What cyber insurance for SMEs should include:

Not all policies are the same. To protect your business, make sure your cover includes:

  • Data breach response, including forensic investigation and legal support

  • Business interruption cover to help with lost income

  • Crisis communication to protect your brand and inform customers

  • Ransomware support, including negotiations and recovery costs

  • Third-party liability for customer claims or regulatory fines

If your policy misses any of these, it may be time to review your cover.

How Robison & Co supports SME cyber security

At Robison & Co, we understand the unique risks facing SMEs. Cyberattacks don’t just affect systems—they affect livelihoods. That’s why we provide tailored cover that supports your full recovery.

Our expert team helps you by:

  • Finding bespoke cyber insurance for SMEs based on your business needs

  • Offering risk advice to reduce exposure before claims occur

  • Supporting you with quick, informed action if a breach takes place

Cybercrime is a growing threat, but the right cover makes a big difference. With Robison & Co, your business is never left to face it alone.

Get in touch today

To discuss a new or existing policy, please get in touch with us via one of the options below:

01730 265500
hello@robison.co.uk

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Shield Against Rising SME Threats This Cybersecurity Awareness Month

Shield Against Rising SME Threats This Cybersecurity Awareness Month with Cyber Insurance

Cybersecurity awareness month

October marks Cybersecurity Awareness Month, a crucial time to reflect on the growing risks you’re facing from cyber threats.

Cyber threats are increasing rapidly, both in numbers and severity. With cybercrime rates rising, it’s essential to understand these dangers. It’s not just large enterprises at risk; businesses of all sizes are now targets.

This escalating risk demonstrates the critical need for cyber insurance and security measures. Regularly reviewing these measures ensures your business stays fully protected. To support you, we’re offering a FREE, no-obligation cyber risk assessment. Contact us using the options at the end of this blog, and we’ll help you to identify areas of your business in need of extra protection.

Why Your Business Needs Cyber Insurance

Nearly all businesses now rely on technology in some way, whether it’s for payments or storing sensitive data. With so much online, the risks grow. The more we depend on technology, the more exposed we become to cyber threats.cyber criminal attacking a businesses security

Cybercriminals are evolving just as quickly as technology. They’re getting more creative with every passing day, leaving all businesses vulnerable. Attacks on SMEs have been rising, with 60% of SME’s targeted by cyber-attacks in 2023. Many companies were caught unprepared because they never expected to be targets.

The financial impact of a cyberattack can be devastating. This makes having the right cyber insurance more important than ever. Cyber insurance covers the costs of data breaches, legal fees, income loss, and more. It offers numerous benefits, helping your business recover quickly and minimising the damage — financial and otherwise.

Common Cyber Threats You Could Face

Your business faces unique cyber risks, but some threats are more common than others:

  • Phishing – Cybercriminals use phishing emails to trick employees into providing sensitive information or downloading harmful software. This grants them access to your data, devices, and/or systems.
  • Ransomware – Ransomware locks a company out of its systems, demanding payment before restoring access. Operations often grind to a halt until the ransom is paid.
  • Data Breach – When cybercriminals steal client or employee information, it can lead to legal trouble, loss of trust, and reputational damage.

How Cyber Insurance Protects You

Cyber insurance serves as both an operational and financial safety net. Here’s why it’s essential:

  • Financial Cover – Cyber insurance steps in to cover the significant costs associated with cyberattacks, keeping your business financially secure.
  • Data Recovery & Restoration – Recovering your data and systems is crucial after an attack. Cyber insurance covers the process, helping your business to bounce back quickly.
  • Third-Party Liability – If client data is exposed during a breach, cyber insurance can cover legal fees and compensation, easing the financial burden.

Be Proactive This Cybersecurity Awareness Month

Cybersecurity Awareness Month isn’t just about recognising the risks — it’s about taking steps to protect your business. Prevention is always better than cure, and cyber insurance ensures you’re ready for the worst.

Now is the perfect time to reassess your current cybersecurity measures. Make sure your business has the right cover in place to stay protected. To support this effort, we’re offering a FREE, no-obligation cyber risk assessment!

Contact us using the options below, and one of our expert brokers will run a cyber risk assessment for your business. We’ll help improve your security and ensure you always remain protected.

 

To discuss a new policy, or current policy  please get in touch with us via one of the options below!

Book a call        01730 265500        Contact request form        hello@robison.co.uk

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Remote work: Navigating Insurance needs

Remote Work: Navigating Insurance Needs 

 

 

Embracing Remote Work: Navigating Insurance Needs for Hybrid Work Models

Remote work has become very common as the way we work changes. Many businesses use hybrid models, mixing remote and office work. This shift is flexible and convenient. But, it brings new insurance challenges.

Understanding the Hybrid Work Environment

In a hybrid setup, employees work from both home and the office. This flexibility has many benefits. However, it also creates unique insurance issues. For example, there are cybersecurity risks and home office liabilities. Addressing these needs takes careful planning.

Cyber Insurance for Remote Employees

With remote work, cybersecurity is crucial. Protecting data and systems from cyber threats is essential. Cyber insurance helps cover the costs of data breaches and ransomware attacks. So, employees working remotely need proper cyber insurance. This protection is vital for both personal and company data.

Liability Coverage for Home Offices

As employees set up home offices, liability coverage becomes important. Homeowners’ insurance might not cover business activities at home. Thus, business owners should consider extra liability coverage. This protects against claims from accidents or injuries in home offices. It ensures that both employees and businesses are legally protected.

Employers Liability Compensation Considerations

Hybrid work complicates Employers Liability. Injuries at home can qualify but proving them is challenging. Therefore, businesses need to work with insurance providers to clarify coverage. This ensures that employees are protected, no matter where they work.

Conclusion: Securing Your Hybrid Work Environment

As businesses adopt hybrid models, addressing insurance is key. By investing in cyber insurance, securing home office liability, and clarifying Employers Liability cover, businesses can manage the hybrid work environment confidently. This ensures safety, security, and well-being for both employees and the organization.

 

 

To discuss a new policy, or current policy  please get in touch with us via one of the options below!

Book a call        01730 265500        Contact request form        hello@robison.co.uk

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Safeguard Your Business in the Digital Age: Navigating Cyber Threats and Protecting Your Future

Safeguard Your Business in the Digital Age: Navigating Cyber Threats and Protecting Your Future

In today’s interconnected world, it’s never been more important to safeguard your business. The digital landscape is evolving at an unprecedented pace, offering boundless opportunities for growth and innovation. However, alongside these advancements comes an alarming increase in cyber threats, presenting significant risks to businesses of all sizes.

Understanding the Cyber Threat Landscape to Safeguard Your Business

Recent reports underscore the severity of the situation. Studies reveal a substantial surge in cyber-attacks, affecting organizations across various sectors. No longer confined to large corporations, small and medium-sized enterprises (SMEs) are equally vulnerable targets. Moreover, phishing scams, email impersonation, and malware are among the most prevalent tactics employed by cybercriminals, posing a significant threat to business operations and data security.

The Impact of Cyber on Your Business

The repercussions of a cyber-attack extend far beyond mere financial costs. Not only can the immediate financial burden be substantial, but the long-term consequences can be even more severe. Additionally, a cyber-attack can tarnish your business’s reputation, disrupt operations, and, in extreme cases, threaten its very existence.

Safeguard Your Business: Simple Steps for Cybersecurity

Firstly, assess your risks: Regularly evaluate your cybersecurity risks and prioritize addressing vulnerabilities in your systems and processes. Understanding your unique risk profile is essential in developing an effective cybersecurity strategy.

Secondly, secure access: Implement multi-factor authentication and strict access controls to prevent unauthorized entry to your critical systems and data. Strong authentication measures are fundamental in thwarting cyber threats.

Next, enhance network security: Deploy robust network security measures, such as firewalls, intrusion detection systems, and encryption protocols, to protect your network from malicious activity. Furthermore, regularly monitor network traffic for suspicious activity and anomalies.

Additionally, protect your data: Encrypt sensitive information both at rest and in transit to prevent unauthorized access or interception. Implement data loss prevention solutions to monitor and control the movement of sensitive data within your organization.

Moreover, prepare for incidents: Develop and test response plans for security incidents to ensure a swift and coordinated response in the event of an attack. Establish clear procedures for incident detection, containment, eradication, and recovery.

Also, educate your employees: Provide comprehensive cybersecurity training to all employees to raise awareness about common threats and promote good cyber hygiene practices. Employees are often the first line of defense against cyber-attacks.

Finally, conduct regular audits: Conduct frequent security audits to assess the effectiveness of your cybersecurity controls and ensure compliance with regulatory requirements and industry standards. Identify any gaps or deficiencies in your security posture and take corrective action promptly.

The rise in cyber threats underscores the critical importance of preparedness. By adopting robust cybersecurity practices and investing in comprehensive cyber insurance, you can navigate the digital landscape with confidence. Remember, the best defence is a proactive offense. Don’t wait until it’s too late to safeguard your business – act NOW.

To discuss a new policy, or current policy  please get in touch with us via one of the options below!

Book a call        01730 265500        Contact request form        hello@robison.co.uk

 

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Key Insurance Terms You Need To Know

Navigating Insurance Lingo: Your Guide to Understanding Key Insurance Terms

Navigating insurance terminology can feel like navigating a confusing maze, but don’t worry! We’re here to guide you through it in a friendly and approachable manner. Whether you’re a seasoned insurance pro or just dipping your toes into the world of coverage, understanding the language used in insurance policies is essential. So, let’s break down some of the most common insurance terms together!

Average Clause:

A provision reducing a valid claim based on the degree of under-insurance.

Capital Additions Clause:

This clause covers alterations or additions to existing premises or newly acquired buildings, as well as additional computer or office equipment.

Conditions:

These are additional provisions in an insurance policy outlining procedures, qualifications, or important stipulations. Conditions may include:

  • Conditions precedent of the policy, relieving the insurer of all liability if not observed.
  • Conditions precedent to liability, relieving the insurer of liability for a particular claim if not observed.
  • Conditions subsequent, which don’t prejudice claim payment but entitle insurers to counterclaim damages.

Data Protection Act:

This covers liability incurred under Sections 22 and 23 of the Data Protection Act 1984, related to personal data. Exclusions include fines, penalties, and the cost of data replacement or rectification.

Debris Removal Clause:

It covers costs of removing debris, dismantling, demolishing, and shoring up.

Definition of Employee:

This term encompasses individuals under contract with the insured, labour masters and their workers, subcontractors, self-employed individuals, students or interns under supervision, and hired or borrowed workers.

Excess:

The portion of loss borne by the insured before insurance coverage applies (also known as a deductible).

Green Card:

An international certificate of insurance for motorists traveling abroad.

Health & Safety at Work Defence Costs:

Covers expenses for defending against criminal proceedings related to breaches of health and safety regulations.

Indemnity:

This principle aims to restore the insured to their pre-loss position as much as possible.

Indemnity Period:

It applies to Business Interruption Insurance, specifying the maximum period during which the policy protects against business interruptions due to damage.

Indemnity to Other Persons:

This extends indemnity to directors, employees, and members of related organizations.

Indemnity to Principal:

Provides indemnity to public or local authorities, with insurers controlling all claims.

Limit of Indemnity:

The maximum amount for which the insurer is liable under the policy.

Long Term Undertaking (LTU):

An agreement offering premium discounts for policy renewal at existing terms for a specified period.

Other Interests:

Parties with vested interests must declare them to insurers in case of loss.

Prevention of Access:

Covers property damage hindering access to premises.

Reinstatement Day One Non-Adjustable:

Initial cost of reinstatement plus an agreed inflation percentage.

Subrogation:

The insurer’s right to step into the insured’s shoes to pursue rights and remedies.

Sum Insured:

The policy’s liability limit.

Unoccupied Premises Warranty:

Conditions for maintaining security and inspecting unoccupied premises.

Warranty:

A condition imposed by the insurer, which, if not met, can discharge the insurer from liability. Types include:

  • Express Warranty: Specific undertakings by the insured.
  • Implied Warranty: Related to the seaworthiness or legality of an adventure, mainly in marine insurance.

 

Understanding these key insurance terms puts you in the driver’s seat when it comes to protecting yourself, your loved ones, and your assets. If you ever find yourself unsure about any insurance terminology or need assistance with your policy, don’t hesitate to reach out to your insurance agent. They are there to help you navigate the ins and outs of insurance coverage with confidence.

To discuss a new policy, or current policy  please get in touch with us via one of the options below!

Book a call        01730 265500        Contact request form        hello@robison.co.uk