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Cyber insurance
Cyber Risk insurance, also known as Cyber Liability insurance, is one of the fastest growing areas of cover as businesses become ever more reliant on technology
About our cyber insurance policy
At Howden, we understand the critical importance of safeguarding your business in the digital age. Our Cyber Insurance policy provides comprehensive protection against cyber risks, ensuring your business remains resilient in the face of evolving threats.
The risk of losing funds or data, or technology being denied or failing due to accidental or malicious interference, has never been greater. Increasingly, organisations rely on technology to drive core business objectives, causing cyber risks to have exponentially increased in recent years. Cyber incidents can disrupt businesses through reputational damage, operational downtime, financial loss, and legal action. Despite this, many Irish businesses remain unprepared for a major cyberattack. They risk substantial business losses and fines for non-compliance with EU IT security laws.
As businesses increasingly rely on online operations, having robust cyber risk insurance is no longer optional - it’s essential. Explore the benefits of our Cyber insurance cover and secure your digital assets today.
Cyber insurance policy benefits
Incident response and crisis management
Provision services and support to deal with a live cyber event and the immediate aftermath.
Privacy breach notification
Promptly notify affected parties in the event of a data breach, ensuring compliance with privacy regulations.
Privacy and security liability
Cover for legal expenses and damages resulting from privacy violations or security breaches.
Cyber extortion
Protection against ransom demands and associated costs in case of cyber extortion threats.
Business interruption
Compensation for lost income and additional expenses due to cyber incidents disrupting business operations.
Data recovery and system damage
Coverage for expenses related to restoring data and repairing damaged systems after a cyber attack.
Theft
Insures against theft of digital assets, including intellectual property and sensitive information.
Fraud
Protection against financial losses resulting from fraudulent activities, such as phishing or social engineering.
Privacy liability
Covers legal costs and damages arising from privacy-related lawsuits.
Cyber Risk insurance cover should be held by any business which:
- holds personal data (such as names, addresses, and banking information)
- electronically stores business-critical data
- is reliant on technology to conduct business
- has a website
- has an online bank account
- is subject to a payment card industry (PCI) merchant services agreement
Getting cyber security and information protection right can be a challenge for all companies, no matter their size.
Why Choose Howden
An intermediary that understands how consulting engineers actually work
- We translate complex contracts into clear insurance actions
- We know what clients and main contractors usually ask for
- We can benchmark limits/structures against peer firms (where possible)
- We help avoid gaps between “what the contract expects” and “what the policy covers”
- We act quickly - quotes, renewals and urgent contract reviews
- You get a named advisor + claims support, not a call-centre hand-off
FAQs
It depends on your contracts, sectors, and risk profile. Many client contracts specify minimum limits - we’ll help you match requirements without buying unnecessary cover.
Yes, we can review typical insurance schedules/clauses and advise what’s achievable in the market and how to evidence compliance
It can, but it depends on your scope and policy terms. We’ll clarify how your role is described and ensure the cover aligns to what you actually do.
Often more so. Smaller firms can be more exposed to a single large claim. We’ll find a pragmatic solution that fits your business and its exposures.
If you share key details (services, fees, claims history, contract types), we can usually move quickly - especially for renewals or urgent contract deadlines. This is based on your proposal form and claims history.
Promote staff awareness; use firewalls; install anti-virus protection, disable unnecessary functions & services on devices/software automatically set to the manufacturer’s default, use two factor authentication, restrict administrative privileges so only those that need access to certain files/data have access, switch off Wi-Fi if not using it, don’t use free or unsecure Wi-Fi and password protect your devices and accounts.
Explanation: While Cyber insurance provides comprehensive coverage, it typically excludes intentional acts, war-related incidents, fraudulent activities committed by the insured party, some policies can extend cover to include social engineering (impersonation fraud etc.) but not all policies will cover same
Importance: Understanding policy exclusions ensures that businesses have realistic expectations regarding coverage.
Explanation: Yes, most cyber insurance policies cover ransomware attacks. They provide financial assistance for ransom payments and recovery costs associated with decrypting files.
Importance: Ransomware is a prevalent threat, and having coverage is crucial to minimise business disruption.
Explanation: Cyber insurance safeguards businesses against financial losses resulting from cyber incidents. It ensures that companies can recover quickly after an attack.
Importance: Without cyber insurance, businesses may struggle to handle the financial aftermath of data breaches or other cyber events.
Explanation: The cost of cyber liability insurance varies based on factors such as business size, industry, coverage limits, and risk profile. Consulting with an insurance professional provides accurate pricing tailored to specific needs.
Importance: Understanding costs helps businesses make informed decisions and allocate resources effectively.
