Cyber Insurance
Almost every part of owning property, running a business or managing your personal affairs now happens online: rent and service-charge collection, conveyancing, banking, building systems and the personal data you hold on tenants, leaseholders, clients and staff. That makes everyone a potential target, not just technology companies.
At Eggar Forrester Insurance, we arrange cyber insurance for the clients we already know best: property owners and managers, private clients and commercial businesses across London and the UK. As an independent broker, we work with specialist cyber insurers to find cover that fits how you actually operate, and we explain it in plain English.
Who is Cyber Insurance for?
- Property owners and landlords - protecting rental income, tenant data and the systems you use to manage your portfolio.
- RTM companies, freeholders and residents' management companies - boards holding leaseholder data and handling service-charge funds.
- Managing agents - handling client money, contractor payments and large volumes of personal data on behalf of others.
- Private clients - most high-net-worth household policies now include personal cyber cover, so we'll check what yours already provides and whether the limits are right for you.
- Commercial businesses - SMEs and larger organisations where a breach or outage would interrupt trading, cost money and damage reputation.
Do I need Cyber Insurance?
If you hold personal data or rely on email and IT systems to operate, the answer is very likely yes. Many standard property and commercial policies exclude cyber events or offer only very limited cover, so the costs of an attack can fall straight onto you.
Common incidents we see affecting our clients include:
- Ransomware - systems or files are locked until a ransom is paid, halting day-to-day operations.
- Data breaches - tenant, leaseholder, client or employee information is accessed or leaked, triggering notification duties and potential regulatory action.
- Business interruption - lost income and extra costs while systems are restored.
- Personal cyber attacks - identity theft, social-media account takeovers and extortion targeting individuals and their families.
What about payment-diversion fraud?
Payment-diversion and invoice fraud, where a hacked or spoofed email tricks someone into sending a deposit, rent, service charge or supplier payment to a criminal's account, is a form of social engineering fraud. In the insurance market it is generally covered by Crime insurance rather than Cyber insurance. We can look at both together so there's no gap between them.
Why Eggar Forrester Insurance?
- Cover built around your risk. We take time to understand how you hold data, move money and use technology before approaching insurers.
- Joined-up advice. We already look after many clients' property, private client and commercial insurance, so we can spot gaps and overlaps between policies.
- Access to specialist insurers. Including the incident-response, forensic, legal and PR support that comes with a good cyber policy.
- Support when it matters. If the worst happens, we're on hand to help you get the claim moving quickly.