Cyber Insurance helps protect your business from the financial fallout of cyber threats. Here’s a quick look at some key areas it covers: 

• Data Breach Response: Covers costs associated with investigating and mitigating breaches, including notifying affected individuals and regulatory bodies, as well as providing credit monitoring where required. 

• Third-Party Liability: Protects against legal costs, compensation claims, and regulatory fines arising from breaches that impact third parties. 

• Data Recovery and Restoration: Assists with recovering and restoring lost or compromised data following a cyber incident. 

• Ransomware Attacks: Covers the costs of ransom payments (where legal) and expenses related to system recovery and investigation. 

• Business Interruption: Provides compensation for lost income and additional operating costs due to disruptions caused by cyber incidents. 

• Cyber Extortion: Protects against threats to release sensitive or proprietary information, covering negotiation, mitigation, and resolution costs. 

For a full breakdown of what's insured, please refer to your policy documentation.  

If you’re unsure about what’s covered - get in touch - cyber@capsulecover.com, we’ll be happy to help.  

While Cyber Insurance provides robust protection against a variety of risks, there are some exclusions to be aware of. These typically include: 

• Pre-Existing Incidents: Cyber Insurance doesn’t cover breaches or vulnerabilities that were known but unresolved before the policy was purchased. 

• Insider Misconduct: Deliberate, fraudulent, or criminal actions by employees or stakeholders are usually excluded. 

• Loss of Future Revenue or Market Value: While business interruption is covered, losses tied to reduced market share, reputational damage, or diminished brand value are often excluded. 

• War and Acts of Terrorism: Many policies exclude coverage for cyber incidents linked to war, terrorism, or state-sponsored attacks. 

• Negligence in Cybersecurity Practices: Failure to maintain basic cybersecurity measures, such as regular updates, patches, and employee training, could invalidate coverage. 

For a full breakdown of what’s not insured, please refer to your policy documentation.  

If you’re unsure about what’s covered - get in touch - cyber@capsulecover.com, we’ll be happy to help. 

Yes, Cyber Insurance is still essential even if you have IT security measures or work with an MSP. While robust IT security and MSPs play a critical role in preventing cyber incidents, they can’t guarantee complete protection. Cyber Insurance provides an additional layer of financial and operational support, covering areas that IT security alone can't address. 

Key reasons to consider Cyber Insurance even with IT security or an MSP include: 

• Coverage for Human Error: Cyber incidents often result from employee mistakes, such as falling victim to phishing scams, which IT systems may not fully prevent. 

• Protection Against Sophisticated Attacks: Advanced cyber threats, such as ransomware or zero-day exploits, can bypass even the most sophisticated defences. 

• Incident Response and Recovery: Cyber Insurance offers access to experts for breach investigations, data restoration, and legal or regulatory compliance – services often outside the scope of an MSP. 

• Financial Loss Protection: Covers income losses, ransom payments (if legal), and other unexpected costs that IT security can't absorb. 

• Liability Coverage: Protects your organisation against third-party claims and legal liabilities arising from data breaches or other cyber incidents. 

IT security and MSPs reduce your risk, but Cyber Insurance ensures you are financially protected from the potentially catastrophic consequences of a cyber incident. 

The amount of Cyber Insurance your organisation needs and its cost depend on several factors: 

• Nature and Volume of Data: Businesses handling large volumes of sensitive data, such as personal, financial, or health information, typically require higher limits to cover potential breach costs. 

• Revenue and Operations: The size of your organisation and the potential financial impact of a cyber event, including business interruption, will influence your coverage needs. 

• Contractual Obligations: Some clients or partners may require you to hold specific levels of Cyber Insurance as part of your contractual agreements. 

• Regulatory Environment: Companies operating in industries with strict data protection regulations (e.g., GDPR, HIPAA) often face higher penalties and should consider increased coverage to manage this risk. 

• Threat Landscape: Assess the likelihood of being targeted by cyber threats, such as ransomware or phishing attacks, based on your industry and cybersecurity measures. 

• Existing Risk Management: Evaluate your current IT security and incident response capabilities to determine how much risk is transferred to the insurer versus managed internally. 

Typically, organisations start with coverage limits ranging from £250,000 to £5 million, but this can vary significantly depending on your unique needs.  

Premiums vary depending on factors such as business size, data handled, industry, and security measures. Costs typically range from £150 to £5,000 annually for small and medium-sized businesses, while larger companies or those in high-risk sectors may pay up-to and beyond £50,000 annually. 

Your application for Cyber Insurance may have been declined for one or more of the following reasons: 

• Insufficient Cybersecurity Measures: If your organisation lacks key protections such as multi-factor authentication (MFA), data encryption, or regular vulnerability patching, insurers may view the risk as too high. 

• High-Risk Profile: Businesses operating in industries frequently targeted by cyberattacks (e.g., healthcare, finance) or handling significant amounts of sensitive data may require enhanced security measures before approval. 

• Poor Claims History: A history of frequent cyber incidents or claims can make insurers hesitant to provide coverage. 

• Outdated Systems: Reliance on unsupported or obsolete software and hardware can signal a higher risk of cyber vulnerabilities. 

If you have any questions about why your application was declined - please contact us cyber@capsulecover.com, we’ll be happy to help. 
 

Cyber Insurance typically provides worldwide coverage for your own losses, such as data recovery, business interruption, or ransomware costs. However, coverage for liability claims (like third-party claims for data breaches or regulatory fines) may be limited to certain countries/region.

If your business operates internationally or you have clients around the world, let us know - cyber@capsulecover.com. We’ll make sure your coverage fits your global activities and needs. 

Making Changes to Your Policy: If you have any questions or need assistance with your coverage, please contact us at cyber@capsulecover.com, we’ll be happy to help. 

Direct Debit Payments: For queries related to your Direct Debit payments, email us at cyber@capsulecover.com. 
 

Accessing Your Policy Documents: Need a copy of your policy documents? Request them by emailing cyber@capsulecover.com. 

For Data or Security Breaches: It’s critical that you contact Beazley immediately by calling 020 3514 2434 (Available 24/7). Failing to do so could result in your claim being invalid. 

Email: BBRUK@beazley.com 

You can find detailed instructions on claims in your policy documents.