Cyber Insurance also referred to as Cyber Liability or Cyber Risk Insurance, is an insurance cover designed to protect organisations from unforeseen costs involved in recovery after a cyber security breach or similar event.
data breaches by the numbers
On a average of 2,244 times a day, hackers attack every 40 SECONDS.
4.1 BILLION records were exposed in data breaches.
An average of $1,178 per employee is spent on cybersecurity.
where do cyber attacks come from?
48% of malicious email attachments are office files.
34% of data breaches involved internal factors
65% of groups used spear-phishing as the primary infection vector.
94% of malware was delivered by email.
Types of Cyber Attacks
Who Needs Cyber Insurance?
Healthcare had the highest data breach costs at $429 PER RECORD.
43% of breaches involved small businesses.
All businesses are dependent on computer systems and the internet whether you are a micro business such as a convenient store or a large organisation in transport, logistics, financial services or retail.
what is covered?
Cyber Risks Insurance as a value-added service
Cyber Risks Insurance also supports clients with strengthening their cyber security. Typical value added services offered by Insurers:
Cost effective solutions for SMEs
Partnered with the leading Cyber Insurers in the UAE, InsuranceMarket.ae™ is able to provide a cyber insurance coverage for third party losses arising out of data breach to SMEs and micro businesses.
A simple 1 page proposal form needs to be filled and sent to us to provide terms.