No, a cyber insurance policy is not legally required. However, it is strongly recommended for businesses that process personal data or are digitally dependent. Due to the rise of AI, digitalization, remote work, and increased risks, we are seeing a sharp increase in the number of new incidents.
Solutions
Cyber insurance
Cyberattacks, phishing, ransomware, and data breaches are no longer exceptions today. Any business that works with digital processes or manages data is at risk. The financial and reputational damage can be substantial.
With a cyber insurance policy, you protect your business against the consequences of cybercrime and unauthorized access to IT systems or networks. Van Dessel Insurance Brokers will guide you in mapping out your digital risks and will provide a solution tailored to your activities and scale.
What is a cyber insurance?
A cyber insurance policy is insurance that protects your business against damage caused by cyber incidents.
These include:
- Hacking or unauthorized access to your systems
- Ransomware
- Data breaches involving customer or employee data
- Phishing and email fraud
- IT disruptions caused by malicious attacks
A cyber insurance policy covers both your own losses (such as loss of revenue and recovery costs) and liability to third parties (for example, when customer data is leaked).
In addition to financial compensation, you also gain access to 24/7 support from a team of IT crisis experts who assist you with damage control and communication.
What are the benefits?
A cyber insurance policy ensures reimbursement of financial costs and allows business operations to be resumed as quickly as possible.
Covers costs for restoring IT systems after a cyber attack.
Covers loss of revenue due to the temporary shutdown of your activities.
Covers defense costs and legal assistance in the event of data breaches and privacy violations.
Covers crisis management and communication costs to limit reputational damage.
Who is this insurance for?
A cyber insurance policy is relevant for any business that operates digitally, regardless of sector or size.
In particular for:
- SMEs and medium-sized businesses
- Companies with customer or employee data
- E-commerce and online service providers
- Manufacturing businesses with automated systems
- Healthcare institutions, financial service providers, and professional occupations
Smaller businesses are also an attractive target for cybercriminals. They often have less comprehensive security systems, while the impact of an incident can be even greater.
What is covered and what is not?
What is covered?
- IT forensic investigation costs
- Data recovery or reconstruction costs
- Ransom payments following a ransomware attack (where contractually covered)
- Loss of income due to system downtime
- Liability arising from data breaches
- Legal assistance and notification costs to the Data Protection Authority
What is not covered?
- Losses resulting from intentional internal fraud
- Fines that are not legally insurable
- Failure of general infrastructure (e.g. power or internet outages)
- Ongoing or known incidents existing before the policy commenced
- Traditional fraud or internal fraud (where excluded under the policy)
- Property damage and bodily injury
How much does this insurance cost?
The premium of a cyber insurance policy depends on several factors:
- Your annual turnover
- The type and volume of data processed
- The sector in which you operate
- Your IT security level
- Your claims history
Insurers usually ask specific questions about backups, access management, and security measures. The better your prevention measures, the more favorable the terms.
We assist you in preparing this analysis and negotiate a competitive solution.
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Our promise to you
Personal & involved
a tailor-made partner
We start from your specific situation and take the time to thoroughly understand your risks, needs, and objectives. This way, you receive advice and guidance tailored to your business and everyday practice.
Expertise & experience
already 80 years in insurance
Thanks to our years of experience, we analyze your risks and insurance needs with a broad perspective. We provide a well-thought-out approach, clear solutions, and the right protection for your business.
Customization & innovation
beyond standard insurance
No standard formulas, but solutions tailored to your activities and challenges. From analysis and implementation to support in case of claims: we provide an approach that works in practice.
Would you like to receive a quote?
We analyze your activities, contractual obligations, and risks. You will receive a clear proposal tailored to your business.
Request a quote without obligation or contact us for personal advice.
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