Reducing cyber insurance complexity

As several industry sectors, such as banking and media, are becoming more digital and introducing technology-enabled solutions (cloud computing and artificial intelligence, for example), they’re becoming targets for cybercriminals.

According to the Cyber Security Breaches Survey 2022 [1]Footnote 1, 39% of businesses as a whole and 72% of larger firms have identified cyber breaches or attacks in the last 12 months.

As part of our cover, we provide robust support across the entire cyber value chain. By removing the complexity that can be associated with insurance in this field, we eliminate the associated barriers.

Why choose Aviva Cyber?

Cyber cover is underwritten by a dedicated team of experts. Your policy includes:​

  •  Access to specialist partners for training and innovative solutions to manage and improve cyber risk management strategies.​
  • Cover for first party, third party, and reputational management costs.
  • An action plan for responding to a data breach.
  • Reimbursement of revenue lost in the event of an attack, extortion, or data breach on your IT system or that of your outsourced IT or data provider.
  • Recovery costs and/or cash payout if a hacker holds your business to ransom.​
  • Expenses associated with notifying customers of a data breach.
  • Further bespoke policy options can be added to your policy. For more information on these, please contact us.

How does this cover protect my business?

How does this cover protect my business?​

Speed is of the essence in the aftermath of a cyber incident, so businesses need a strong team to control the event. Our incident response managers are available 24/7 to co-ordinate the necessary specialist IT security, legal and PR experts to get the business back up and running as quickly as possible.

What's involved?

Support when you need it. Customers require a 24-hour response guarantee because incidents don't always occur during working hours.

Identification and restoration. A forensics expert is available to assist you with identifying, containing, and resolving the problem through data restoration and other means.

Minimisation of reputational damage. To mitigate the potential reputational effects of a breach, our legal and PR teams are available to assist.

Notification of affected individuals. We will pay the costs of notifying those affected in the event of a breach, whilst also offering credit monitoring and other services for data subjects.

Investigation. We'll cover the consulting costs to prepare for regulators' probe into the breach.

Excess. The excess is only payable if a specialist is appointed. If just advice is given, no excess is owed.

Resilience improvements. We'll cover costs to improve your company's cyber security following a claim. It could involve installing software, applications, and other technologies, such as two-factor authentication.

Cyber insurance lead

Stephen Ridley

Stephen leads a team of seven individuals with over 40 combined years' experience in their relevant market.

Multinational Capabilities

We can lead global insurance programmes worldwide through our Multinational Centre of Excellence (COE) and our partner network that covers more than 150 countries. We strive to provide a seamless, client-focused end-to-end service – creating controlled master programmes for corporate clients.

Our underwriting appetite

Our diverse underwriting appetite allows us to write more than you may think.

Learn more