Insurance for SMEs

Cyber risk insurance for companies

Cyber security for your business

What is cyber risk insurance for businesses?

Protect your business from cyber attacks that compromise the security of your computer systems with our Cyber risk insurance. A solution that includes coverage to deal with data losses and potential third-party claims and provide the best prevention services to analyse vulnerability and provide digital surveillance, as well as managing security breaches.

Advantages of this insurance

Your activity is safe thanks to the advantages of the cyber protection provided by this insurance.

Recover your data

In the event of a cyber attack, the costs of recovering data, cleaning malware and restoring access control systems will be covered.

Prevention programme

Cyber risk insurance for companies includes a complete analysis of vulnerabilities and potential risks, as well as an anti-hijacking application to detect and prevent ransomware attacks.

Loss of confidential data

Legal, defence and indemnity expenses for injured parties will be included in the event confidential information is lost, stolen or disclosed.

Complementary guarantees

Coverage that will help you after a cyberattack, such as loss of profits due to interruption of activity, management of online reputation or cyber extortion.

Insurance coverage

Alteration, loss or theft of data

If data is lost or stolen or the services provided by the insured computer systems cannot be accessed as a result of a cyberattack, computer virus or human error, this coverage includes:

The cost of restoring lost data to recover damaged software, acquiring licences or adapting new systems if necessary.
Cost of decontaminating data malware, backups, systems and electronic media.
Research to identify the origin and circumstances of the situation and to limit its impact.
Cost of restoring the access control system.

Confidential information

If personal or confidential data is lost, stolen or disclosed to third parties, this could entail a series of significant expenses for your company. If this happens, Cyber risk Insurance offers you coverage for:

Costs of investigating the matter, when this is part of a procedure related to protecting personal data.
Costs associated with dealing with regulatory authorities and performing any actions they may require.
Legal defence against procedures filed for personal data breaches.
Expenses associated with sending notices and communications to affected parties.
Administrative fines.

Civil liability

Cyber risk Insurance offers you coverage for damages that third parties may claim for the loss, theft or disclosure of their confidential data that is stored by your company. This guarantee includes:

Paying compensation arising from the insured party's civil liability to injured parties.
Legal and court defence expenses.
Court-ordered bonds.

Instances where third-party services are affected by insured systems succumbing to a cyber attack or malware are also covered.

Complementary guarantees

Check with your broker and discover which complementary guarantees you can add when taking out your Cyber risk Business Insurance to adapt it to your business activity. You have coverage such as:

Business interruption that leads to a reduction in turnover or increases operating costs.
Reputational risks, when the situation needs to be managed in the media.
Cyber crime, meaning money stolen through unauthorised transfers or movements.
Cyber extortion.
Data security in the payment card industry.
Civil liability for multimedia content.

Online prevention services;

Contracting a cyber risk policy with Plus Ultra Seguros includes a complete programme of online services, which can be accessed from our customer portal via this link.

This coverage allows you to contact a technical IT team to obtain a range of prevention services to help you deal with security issues, for example:

Analysis of vulnerabilities and assistance services to solve them.
Anti-hijacking application to detect and block potential attacks from both ransomware and malware.
Online backup or security copies.
Expert advice adapted to your activity to comply with the General Data Protection Regulations (GDPR).
Analysis of the online reputation of your company, brand or other key data.

Services in the event of security breaches

Even with best IT security practices, there may be circumstances such as human error or systems failures that may cause an incident. If this happens, the cyber risk insurance policy includes services to help you deal with it:

Support services available 24 hours and 7 days a week to identify the causes of the incident.
Restoration of the system by cleaning up infected software and recovering lost information.
Erasing of your digital fingerprint. This is the public information on the Internet that affects the reputation of your brand or company.

Cyber risk portal

If you already have a Cyber risk Business Insurance policy with us, go to the service.

Cyber risk portal

FAQs

Who is Cyberrisk companies insurance intended for?

All small and medium-sized companies that use IT systems in their day to day operations who are interested in protecting their activities and their data, given the rising frequency of cyber attacks.

Any company that stores, handles or transmits data is exposed to cyberattacks and must take the necessary measures to protect it and comply with current data protection regulations.

Why do I need to protect my company against cyber attacks?

Because every day in Spain attacks are carried out on corporate security systems in all sectors (not just the technology sector). Specifically, attacks on SMES have increased in the last year, as they have lower levels of protection than large companies.

Furthermore, the average cost of the losses incurred on these situations increases every year, as do the different routes criminals use to access information, from hacking or malware (a virus) to hijacking systems and data to demand a ransom.

What might be the consequences of a cyber attack on my business?

Different situations may arise depending on the severity of the cyber attack, from operational difficulties due to the inability to use the affected systems, economic losses due to not being able to perform your activity as normal, sanctions imposed by regulatory data protection bodies, or damage to the image and reputation of your brand.

Cyber risk insurance for companies will help you implement a risk prevention plan and will also provide you with coverage to resolve the consequences of a cyber attack.