Almost every business now relies on technology to operate. Email, cloud platforms, financial systems, customer information, online payments and connected devices make doing business easier. They also create new risks.
A cyber incident can interrupt operations, compromise sensitive information, result in financial loss and damage the trust you’ve built with customers, employees and suppliers.
And cyber criminals don’t only target large organisations. Businesses of all sizes can be exposed.
At RSM Group, we take the time to understand how your business uses technology, the information you hold and the potential consequences if your systems or data are compromised. We then help you consider insurance solutions designed to support your business when a cyber incident occurs.
Understanding your cyber exposure comes first
Cyber risk looks different for every business.
A transport operator may rely on fleet management and logistics systems. A hospitality business may process online bookings and payments. A professional services business may hold significant amounts of confidential client information. A construction company may depend on cloud-based project and financial systems.
That’s why our approach starts with understanding your business.
We consider the technology you depend on, the information you hold, how employees access systems, your reliance on third party providers and the potential operational and financial consequences of a cyber incident. This understanding helps us identify key exposures and assess cyber insurance solutions appropriate to your business.
Cyber protection designed around your risks
Our role extends beyond arranging an insurance policy. We help you understand your cyber exposures, consider appropriate insurance solutions and identify areas where stronger risk management may be required.
Tailored cyber solutions
Insurance structured around your business, technology, data and individual risk profile.
Business continuity
Considering how a cyber incident could interrupt your operations and affect your business financially.
Independent advice
Unbiased recommendations focused on what’s right for your business.
Claims advocacy
Your dedicated Account Manager remains your advocate when a cyber claim occurs.
Cyber risk review
Helping identify potential exposures across your systems, data, people and operations.
Ongoing review
Reviewing your insurance as technology, cyber threats and your business continue to evolve.
Protection when technology lets you down, or someone gets in
Cyber insurance can help protect businesses against certain financial losses and costs resulting from cyber incidents, subject to the policy’s terms, conditions and exclusions. Depending on the policy, protection may include:
Cyber incident response
Access to specialist support to help investigate, contain and respond to a cyber incident.
Data breaches
Certain costs associated with responding to the loss, theft or unauthorised access of personal or confidential information.
Business interruption
Certain financial losses resulting from an insured cyber event that disrupts normal business operations.
Data and system recovery
Certain costs associated with restoring data, software and systems following an insured cyber incident.
Third-party liability
Protection against certain claims arising from a failure to protect data or other covered cyber events.
Legal and regulatory costs
Certain legal, investigation, notification and regulatory costs following an insured incident, where covered by the policy.
The cover available varies considerably between insurers and policies. RSM Group works with you to understand the protection relevant to your business rather than treating cyber insurance as a one-size-fits-all product.
Insurance is only one part of your cyber protection
Cyber insurance can provide important financial protection and access to specialist support, but insurance should sit alongside effective cyber risk management.
Employee awareness, multi-factor authentication, access controls, software updates, backups, incident response planning and management of third party providers can all play an important role in reducing cyber exposure.
These controls are also increasingly important to insurers when assessing cyber risk.
At RSM Group, we help you consider cyber insurance within your broader approach to business risk and, where specialist technical advice is required, identify where appropriate cyber security expertise may be needed.
The objective is to reduce the likelihood of an incident and be better prepared to respond if one occurs.
When a cyber incident occurs, knowing what to do and who to contact can make a significant difference.
Depending on the policy, cyber insurance can provide access to a coordinated response involving specialist cyber security, forensic, legal, communications and other expertise.
Rather than trying to assemble that support after an incident has occurred, an appropriate cyber insurance program can provide a defined pathway for responding.
Businesses should understand their insurer’s incident response requirements before an event occurs so key people know what to do and who to contact.
Your account manager. Your advocate.
A cyber incident can be unfamiliar, complex and fast moving. Multiple specialists may become involved while your business is simultaneously trying to manage operational disruption, customers, employees and potentially regulatory requirements.
At RSM Group, your dedicated Account Manager remains involved throughout the insurance claims process.
Because they already understand your business and the insurance solution that was developed for you, they can help you navigate the insurance process, communicate with the insurer and remain your advocate while specialist cyber response providers deal with the technical aspects of the incident.
It’s another reason why understanding your business before anything goes wrong matters.
As an independent, family owned brokerage, we answer to our clients, not insurance companies. We aren’t restricted by any preferred insurer arrangements which means we can focus on finding the solution that’s right for your business. By taking the time to understand your operations and risks, we provide tailored advice, broader market access and the confidence that every recommendation is made with your best interests in mind.
Independent
Family-owned
No preferred insurer panels
No insurer ownership
Advice driven by client needs
Cyber Risk across Specialist Industries
Cyber risk isn’t confined to technology companies or large corporations. Businesses across RSM Group’s specialist industries increasingly rely on digital systems, connected technology and information to operate. We support businesses across:
Transport & Logistics
Waste & Resource Recovery
Civil Contractors & Plant Equipment
Construction
Aboriculture
Commercial & Professional Services
Hospitality
Family Entertainment
The systems and information at risk may differ, but the potential consequences can affect almost every business.
Your business doesn’t need to be a technology company to depend on technology.
Whether you’re reviewing your existing cyber insurance, concerned about emerging threats or want greater confidence that your business is prepared for a cyber incident, talk to RSM Group.
We’ll take the time to understand your business, your technology dependencies and your risks and help you consider a cyber insurance solution appropriate to your needs.
