Most information, whether it is confidential or not,  is now stored and transferred online. This has significantly increased the risks of a business facing a cyber breach or attack and therefore Cyber Insurance is now a vital cover that we recommend for most businesses.

If your business is victim to theft or corruption of valuable data, interruption to key systems or your customers, suppliers or any third party suing for misrepresentation of their data, Cyber Insurance is crucial in the response and management of these incidents.

It is a common misunderstanding that traditional insurance policies will protect most cyber exposures when in fact, it is hugely unlikely that they will. This amplifies the importance of working with an insurance broker who specialises in Cyber Insurance as they will understand the risks that your business is exposed to and can help you manage and mitigate those risks accordingly.

Please click here to browse our business insurance solutions.

All businesses face unique risks, so please get in touch with our expert team to ensure your business has the correct cover in place.

DIRECTORS AND OFFICERS

WHAT IS TYPICALLY COVERED?

Data Breaches: As more consumers are now shopping online, there is more responsibility for businesses to protect their personal information as affected parties could sue your business if there was a data breach


Business and Network Interruption: If a cyber breach or attack prevents you from accessing or operating your systems, you could potentially lose significant potential revenue


Intellectual Property Rights: Posting on your company website, social media or blog opens you up to the same exposures faced by publishers. These include libel, copyright or trademark infringement and defamation


Damage to Third-Party Systems: Your business could be held liable for any damage caused if your employees inadvertently transmitted a virus to a third-party, customer or supplier


System Failure: A natural disaster, malicious activity or fire could all cause physical damages that result in data or code loss


Cyber Extortion: A hacker could hijack your website, network, or stored data, denying access to you or your customers. Often, they will demand money to restore your systems, causing a temporary loss of revenue


CYBER CASE STUDY

Miles Smith, now Specialist Risk Insurance Solutions, was asked by a large nationwide retailer to undertake a thorough review of its insurance provisions to highlight any potential gaps in cover.

Read the Whole Case Study

Solutions
"Specialist Risk, formerly known as Miles Smith Insurance Solutions, staff are friendly, extremely approachable, responsive and very much work with us, allowing us to get on with the day-to-day running and growth of our business"

Belfield Group

Group Finance Director

OTHER COVERS

Buildings Insurance protects your business premises should it be damaged by fire, flood, burst pipes or storms…
Contents and Stock covers the cost of replacing stock, equipment and other goods following an incident…
Contingency cover protects you should you suffer financial losses from an issue at an event such as last-minute cancellations…
Contract Works covers builders and tradesmen for any work in progress on a building site that is damaged…
Contractors All Risks protects employers and contractors for loss or damage to a building site that you or your team…
Crime cover protects you from both internal and external fraudulent activities, helping to get your business up and…
Cyber Insurance offers comprehensive cover and if required, helps deal with reputation management…
Directors’ and Officers’ provides financial protection for the potential defence and damage costs for the leaders…
Employers’ Liability, Public Liability and Product Liability are key to protect your business against the diverse…
Employment Practices Liability covers employers for claims made against them by employees that allege discrimination…
Environmental Impairment Liability provides cover following an incident that causes pollution on land…
Goods in Transit insurance provides cover for theft, loss, or damage of goods whilst they are being transported…
Jewellers’ Block protects businesses that sell high-value or unique jewellery or carry out regular valuations…
Landlord’s Contents covers insured furnishings in your rented property should they be damaged by tenants…
Latent Defects covers the cost of remedying and rectifying damage caused by faults in design, construction…
Legal Expenses protects you and your business by covering the cost of taking or defencing legal action should the need…
Legal Indemnity is typically paid for by the seller of a property and protects the purchaser against issues…
Loss of Licence covers the costs that are incurred if your alcohol licence is revoked by your Local Authority…
Machinery and Plant is a vital cover to protect necessary plant and equipment used by industries such as…
Marine Cargo cover protects businesses that are responsible for transporting goods both domestically and…
Our combined Material Damage and Business Interruption cover provides businesses with full protection…
Medical Malpractice protects healthcare professionals against allegations of clinical negligence and medical…
Motor Fleet protects the fleet of vehicles that your business operates under one insurance policy…
Personal Accident and Travel cover protects a business’s directors, partners and/or employees if they suffer…
Product Recall covers the reasonable and necessary expenses of recalling and replacing products where…
Professional Indemnity covers the legal costs and any resulting compensation payments if a client alleges…
Property Owners’ Combined protects property owners against the unique risks…
Terrorism cover protects a business and its ability to continue trading following a terrorism incident…
Trade Credit protects a business if a customer owes money for products or services and does not pay their debts…
Trustee Indemnity covers trustees and their charities in the event a claim is made against them…

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FAQS
Where is Specialist Risk Insurance Solutions located?

Our head office is in the City of London, the address is:

One America Square, 17 Crosswall, London, EC3N 2LB. We also have offices in Croydon and Ampthill, Bedfordshire however we are currently working remotely due to COVID-19.

Does my trade fall within Specialist Risk’s appetite?

We work with all types of trades across a multitude of industry sectors. Please call us to discuss your specific needs and our expert team will be happy to assist.

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