Professional Indemnity & Cyber Insurance

Many small businesses take out professional indemnity. If you provide professional services or consultancy, or handle client data and intellectual property, it’s a very useful protection to have – covering legal fees and compensation costs if you lose a claim that a client brings against you.

You need professional indemnity insurance if:

• You provide advice and consultancy
  Clients can claim compensation if there’s a mistake in the advice you’ve given.
• You provide an expert service
  In case you make a mistake in designs, plans or calculations.
• You handle people’s information
  You could face claims if you accidentally disclose data or infringe on a client’s legal rights.
• A client insists you have it
  Many clients will require that you have professional indemnity insurance in place before you can start working for them.
• Your professional body requires it
  You might belong to a professional body or industry association where professional indemnity insurance is compulsory.

Cyber Insurance

Cyber insurance is a key requirement for any business that stores client data, uses online systems, computers, servers, software or devices. Standard commercial policies typically do not provide cyber liability cover, which means if your business is targeted with a cyber-attack you will not have insurance to cover the financial and reputational losses.

We in ProActive Solutions understand the types of cyber threats that businesses are facing and offer cyber insurance policies which are tailored to the individual business requirements.

Our policies can include cover for:

EXTORTION

Covers the costs from cybercriminals holding files for ransom.

LEGAL FEES

Covers the lawyers’ costs for claims arising from data breaches.

THEFT COVERAGE

Covers the theft of money, hardware or software arising out of a cyber attack.

FRAUD COVERAGE

Covers the theft of property and money due to computer fraud.

PRIVACY LIABILITY

Covers the cost of third-party claims caused by a data breach.

CRISIS MANAGEMENT

Covers the cost of PR and business reputation recovery.

FORENSIC INVESTIGATION

Costs are covered for specialist investigations into the cyber-attack.

DATA LOSS AND RESTORATION

Covers the costs of recovering electronic data.

BUSINESS INTERRUPTION/ DOWNTIME

Covers the loss of income due to cyber-attacks. Options to include multimedia liability, network interruptions and more.

At ProActive Solutions we understand that in today’s dynamic Business world things don’t always go to plan and can sometimes go wrong. We recognise the importance of being prepared and this means having adequate Business Insurance in place that addresses evolving risks.