Cyber & Crime

In today's increasingly digitalised business world, companies of all sizes and industries are more reliant than ever on reliable cyber security solutions. Cyber-attacks, data breaches, and fraud are not just headlines but real threats that can cause severe financial and reputational damage. Therefore, a cyber risk strategy is not only advisable but an essential safeguard for your company. This strategy comprises preventive measures and coverage through cyber insurance in conjunction with fidelity insurance.

Why is cyber insurance necessary?

1. Growing Threats: The number and complexity of cyber-attacks are steadily increasing. From phishing attacks and ransomware to data loss, the risks are diverse and can affect anyone. The risk landscape is drastically expanding due to artificial intelligence and quantum technology.
2. Professional Assistance in Emergencies: A cyber incident usually triggers a crisis. This must be professionally managed to minimise damage to the company and quickly restore operational capability. A network of various experts guarantees the best possible assistance in the event of a claim.
3. Financial Protection: The costs incurred by a cyber-attack can quickly escalate. In addition to direct damages from data loss, consequential costs such as legal disputes, IT restoration costs, potential business interruptions, or ransom demands must also be considered. Cyber insurance protects your company from these financial risks.
4. Legal Obligations: Companies are required to protect personal data. A breach of data protection regulations can not only lead to substantial fines but also damage the trust of your customers. With cyber insurance, you are better equipped to respond to such incidents.

Applications of Cyber Insurance

• Data Breaches: Protect yourself against the financial consequences of a data leak, including notification costs and legal advisory fees.
• Business Interruptions: Cyber-attacks can lead to operational downtime. Cyber insurance can help you compensate for the loss of income during this period.
• Restoration Costs: Often, your IT infrastructure needs to be rebuilt to ensure that systems are functioning again and the attacker is no longer in the network.
• Liability Claims: If third parties are harmed by a cyber incident, the right insurance can protect you against liability claims.
• IT Forensics and Crisis Management: Quick action is required in the event of an incident. Cyber insurance provides support from experts who help you analyse the incident and take the appropriate steps.

Howden - Your Partner for Cyber Security

With over 30 years of experience in Financial Lines and Cyber, and more than 90 specialists, including 15 cyber experts, in Germany, Howden placed the first cyber policy in 1997. We understand the challenges your company faces in the digital world.

With the Howden 360° Protection, our goal is to provide comprehensive advice and protection against cyber risks for your company – before, during, and after a cyber incident. You will have access to experts from various disciplines, bridging the gap to management liability risks and fraud scenarios.

Our market-leading products offer unique all-round protection – from proactive measures in the event of a suspected cyber-attack to extensive additional costs for maintaining business operations. We provide tailored cyber insurance solutions that are customised to the specific needs of your company. Together, we develop a comprehensive strategy to protect your digital assets and provide you with the support you need in the event of an incident.

Together with you, we determine the roadmap that makes your company more secure and leads to the insurance solution you desire. We start with the analysis and offer more than just insurance – protecting your company is our mission.