Austria
Belgium
Denmark
Finland
France
Germany
Greece
Iceland
Ireland
Netherlands
Norway
Poland
Portugal
Spain
Sweden
Switzerland
Turkey
United Kingdom
Australia
Hong Kong
India
Indonesia
Japan
Malaysia
New Zealand
Philippines
Singapore
Thailand
Brazil
Chile
Colombia
Mexico
Peru
Bahrain
Israel
Morocco
UAE
Oman
Tanzania
Cyber Insurance
Gain financial protection and the critical first response support required to investigate, control, mitigate and remove cyber security threats.
No matter how robust your IT security protocols, they can't prevent human error, and it only takes one person to make a mistake.
As businesses rely more and more on technology to achieve their goals, the risk of losing money and data, or having technology rejected or fail due to an accidental or malicious incident, has never been greater. Business leaders who don't have a well thought-out cyber protection strategy are in fact playing with whatever funds they have to grow their business. Or, depending on their cash reserves, their very survival.
Digital risks
Today, data is one of the most valuable resources available to businesses. Whatever their size or sector of activity, companies that use new technologies and data to serve their core business are more than ever faced with cyber-risks that can no longer be ignored.
The cybercrime landscape is constantly expanding and becoming more complex:
- Targeted ransomware,
- Hacking,
- Phishing,
- Malware,
- Compromised business emails,
- Fraud,
- Data breaches,
- Social engineering,
- Employee errors.
A cyber attack is often crippling and can significantly slow down your business, cost millions and damage your reputation in the long term.
How can you protect yourself with cyber insurance?
Many Cyber insurance claims are not related to privacy breaches. Cyber crime is seen as the biggest threat to a business when funds are fraudulently transferred from online bank accounts or critical computer systems are blocked by ransomware attacks. Here are five situations where a Cyber insurance policy can help your business when it falls victim to a cyber attack:
Damage to the information system
It is rare that a data breach does not cause damage to the information system. Records are compromised, data is not backed up, files are missing. Cyber insurance allows you to call in IT experts to identify the cause of the problem, recommend measures to limit the damage and cover the costs incurred in determining the origin of the problem and resolving it.
Business interruption
Cover your loss of earnings due to a system failure. Cover can include your financial loss caused by damage to your reputation, for example if your customer cancels a contract or you cease to have regular customers because you have suffered a cyber attack.
Breach of confidentiality
Cover defence costs and compensation that you are legally obliged to pay to a third party, including, for example, in the event of failure to protect personal data, breach of confidentiality or inadvertent transmission of a virus.
Regulatory obligations
Legal fees and expenses to comply with notification requirements or attend a regulatory investigation, including fines, penalties and Payment Card Industry (PCI) assessments following a payment card breach.
Fraud
In the event of an intrusion into the information system which leads to the misappropriation of funds, a fraud insurance policy would cover such a loss. Howden's teams are at your disposal to help you set up such a policy.
Your Cyber emergency service
Your building is on fire, you call the fire brigade. The contents of your office are stolen, you call the police. Who do you call when you suspect or suffer a breach, when your IT systems have been disabled and access to your network blocked, or when you have been the victim of a social engineering scam and have divulged sensitive data?
The financial impact of a cyber incident can be very damaging to businesses that don't have the internal resources, expertise or budget to effectively mitigate cyber risks.
Cyber insurance gives you instant access, 24/7, to experts to neutralise the threat as quickly as possible and mitigate the consequences. : Find out about our cyber emergency service
Discover our market analyses
Why choose Howden ?
- Cnderstanding your challenges: a precise knowledge of your business sector and the risks incurred by companies
- Global approach: a 360-degree approach integrating advice, placement, management and support in the event of claims
- Expertise: a team of Cyber specialists integrated into our customers' service teams at all times
- Responsiveness & Availability: We're with you before, during and after a cyber-attack or incident. We support you on your Cyber journey by ensuring you have the knowledge and tools to achieve business resilience, leveraging our strong partnerships with insurers to negotiate the most appropriate policies on your behalf
- Support at every stage of your development: from seed through international expansion, right through to IPO on a French or foreign market
- Adaptation & Network: local expertise through our regional offices and access to our integrated Howden One international network present in over 100 countries
- Defending your interests: a commitment to short settlement times, a solid legal approach to guarantee the protection of your rights and interests, a network of specialised claims managers in France and abroad
Questions fréquemment posées
Even with the best defences in the world, IT security can't protect you from all threats, particularly those related to the human factor or exposure to external suppliers.
While your IT Director will play a key role in managing the incident, it's likely that they don't have the experience or specialist skills required in the event of a cyber attack, such as knowledge of hackers, different types of malware, ransomware negotiations or dark web practices.
Premiums depend on a number of factors, including a company's annual turnover, industry sector and the type of data held.
At Howden, our aim is to support you on your cyber security journey by understanding the risks specific to your business and negotiating the most appropriate cover and premiums for you. We take an integrated and holistic approach to identifying our clients' risks and ensure that we work with reputable insurers with proven international incident response services. Our experienced claims team is also on hand to assist you throughout the process in the event of an incident.
Choosing cyber insurance is essential to protect your business against threats such as ransomware, which can cripple your systems and demand hefty ransoms to recover your data.
This cover helps limit financial losses in the event of a cyber attack, by covering the costs of crisis management and system restoration. What's more, it helps you meet your legal obligations in terms of data security, offering peace of mind for your business.
Contact our experts to find out more about our services.
Contact
Leopold Larios
Leopold Larios
Cyber Director
Leopold Larios holds a Master's degree in Finance (Major in Insurance & Risk Management) and a Master's degree in Computer Sciences for Finance from the University of Paris Dauphine. He has over 25 years of experience in operational and digital risks, as well as cyber risk.
Previously, he was the Director of Cyber Offer at Descartes, where he established the Risk Manager function in several large groups. He also served as the Risk Manager of the Edenred group for 7 years before becoming the Chief Risk Officer for the Mazars group for 5 years.
Léopold joined Howden France as Cyber Director in April 2024.
The Cyber / PI Tech team, made up of nearly ten experts, supports several hundred companies: SMEs, start-ups, ETIs and major groups.
