Why Cyber Crime Insurance Matters

Cyber Crime Insurance is designed to help your business recover from cyber crime related incidents. Typically, it provides financial support, expert guidance, and peace of mind precisely when it matters most.

In today’s digital world, cyber threats are no longer a possibility—they’re a reality. Whether it’s a ransomware attack, data breach, or system failure, the financial and reputational impact can be severe.

Cyber Crime Insurance acts as a critical safety net, with the potential of covering costs such as data restoration, legal fees, customer notification, and even public relations efforts, depending on your policy. It could also give you access to cybersecurity experts who can guide your response and recovery, minimising downtime and disruption.

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What does Cyber Crime Insurance Typically Cover?

The following provides an overview of the typical coverage and features offered by this type of insurance. Please note that the specific cover provided may vary between insurers. All policies are subject to individual terms, conditions, and exclusions. Your broker will help you find the product that best suits your business’ unique needs.
  • Damages and defence costs following a privacy breach or data loss
  • Costs of internal investigations and regulatory enquiries
  • Notification and restoration costs after a data breach
  • IT forensic and third-party expert support
  • Extortion payments in response to credible cyber threats
  • Business interruption cover due to system failure or cyber attack
  • Loss of digital assets, including data and software
  • Theft of funds through cyber-enabled fraud

43%

of businesses experienced a cyber-attack in the last 12 months. (DSIT, 2024)

71%

increase in hacking incidents from 2020 to 2024. (DSIT, 2024)

£10,380

average cost of a cyber breach for medium and large businesses. (DSIT, 2024)

Real Client Support

  • A business client insured through Tysers received a highly convincing phone call from an individual impersonating their IT support team. The caller successfully deceived the client into installing remote access software, which granted the fraudster full access to the company’s systems. This breach led to unauthorised withdrawals totalling £80,000.
  • Initially, the client’s insurer declined the claim. However, Tysers’ in-house claims team intervened and successfully challenged the decision, securing coverage for the loss. Additionally, the client’s policy included crisis response support from cyber security specialists, who were promptly engaged to restore system integrity and prevent further damage.
  • The result? Business disruption was minimised, and the client was reimbursed.

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Real Cyber Attacks

  • M&S have suffered a major cyber attack, disrupting operations and causing large financial losses.
  • Hackers gained access to Co-Op’s network, resulting in an emergency shutdown.
  • Adidas’ customer data was exposed in a cyber attack, prompting forensic investigation and public notification.
  • Our Cyber Insurance could help cover the costs of these events—supporting your recovery and protecting your reputation.*

*Coverage may vary between providers. All policies are subject to individual terms, conditions, and exclusions.

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Cyber Crime Insurance Glossary

Ransomware

A type of malicious software that locks your files or systems until you pay a ransom

Data Breach

When sensitive or confidential information is accessed or stolen without permission

Phishing

A scam where attackers trick you into giving away personal financial information, often through fake emails or websites

DoS Attack (Denial of Service)

An attack that floods a system or website with traffic to make it slow or completely unavailable

Business Interruption Compensation

Covers lost income if your business can't operate due to a cyber attack

Regulatory Fines and Legal Defence

Helps pay for legal costs and fines if you break data protection laws.

Reputation and PR Crisis Management

Pays for experts to help protect your company’s image after a cyber incident.

Data Breach Response

Covers the cost of notifying affected people, credit monitoring, and other steps after a data breach.

Forensic and Legal Experts

Pays for specialists to investigate the attack and provide legal advice.

Cyber Extortion Support

Covers help and costs related to threats from hackers demanding money to avoid releasing data or causing damage.

FAQs

What happens if I suffer a cyber attack—how do I make a claim?

Contact us immediately. Our expert claims team will support you through the process, from incident response to documentation, so you’re not facing it alone.

How quickly can Cyber Crime Insurance be arranged?

This is usually dependent on your requirements and the information provided but we know your time is precious, so we aim to arrange cover swiftly.

What information do I need to provide for a quote?

To provide a quote, we’ll need basic business details (name, size, turnover), your cyber security setup (e.g. antivirus, backups, MFA), and any history of cyber incidents. It’s helpful to know what kind of data you handle and if you use third-party providers. If available, you can also share recent IT audits or your current cyber policy.*

*Please Note: We may request additional details if required to complete our review.