Almost every UK business uses computers and online systems to help it run. Whether you’re using an online accounting system like QuickBooks or Xero, taking orders online or simply posting social media marketing and advertising, you hold data that needs protecting. With the importance of following GDPR rules, it’s vital that you protect yourself from any issues that may occur.
What Cyber Insurance Covers
This is where Cyber Liability Insurance, like that provided by JMP, comes in. There can be heavy penalties for failing to keep customer details and records safe, and there are criminals constantly looking for opportunities to steal data from businesses and individuals. Cover is even more important if your business handles large amounts of data and records.
The Growing Threat
Online fraud rose sharply during the pandemic as more of us banked and shopped online, and criminal gangs will go to great lengths to get hold of personal data. Stolen information can be used to open bank accounts for money laundering, and if enough information is taken, even to apply for loans or borrowing against a property. Don’t let your company be the cause of this kind of trouble, and if the worst does happen, make sure you have the insurance to back you up.