Riskworks Business Services are committed to ensuring that your business is protected against the growing cyber threat, by bringing awareness to the risks you face and the easy solutions that can keep your business from becoming a victim.

Approximately 60% of Small to Medium Enterprises that suffer a cyber-attack for which they are not insured, will go out of business in the 6 months following an attack. Having your business hacked or criminally exploited, is increasingly becoming a norm and we have sadly moved into an age where being hacked is a matter of ‘when’ and not ‘if’.

Cy-Insworks Buyers Guide to Cyber Liability Insurance Riskworks Business Services Ltd

Cyber Case Studies – Impacts on your business

Cyber Case Study Website Wipeout Riskworks Business Services Ltd

An appliance retailer suffers a significant sales shortfall after suffering a DDoS attack

The dawn of the internet has opened up a world of opportunity for businesses, allowing them to reach new markets and increase their revenues. Along with this, however, has come new risks. With many businesses now increasingly reliant on online sales, they are potentially vulnerable to financial losses should their websites become inaccessible to their customers.

Several parents mistakenly pay tuition fees to a fraudster impersonating a private school

Educational establishments have typically seen their cyber exposure in terms of the risk of suffering a data breach. This is due to the fact that they will often hold sensitive data on both students and their parents and are aware of the potential regulatory obligations that a breach of that data might impose upon them. However, educational establishments shouldn’t see their cyber exposure as being exclusively about data and privacy risks.

Criminals swindle a construction firm out of large payments by impersonating a subcontractor

Compared to many other industries, construction companies have been slower to take up cyber insurance. Because they typically don’t hold large amounts of sensitive data and aren’t solely reliant on their computer systems to carry out their business operations, construction companies don’t often believe that they are overly exposed to cyber risk.

An HR service provider loses contracts due to a cyber attack suffered by one of its supply chain partners.

Over the past two decades, technology has transformed the way businesses operate, and most now depend on their computer systems in one way or another. Rather than having to deal with everything in-house, many businesses choose to outsource elements of their IT infrastructure to third-party providers, whether that be in the form of website hosting, data storage, or application-level services.

What makes us experts in the cyber market

Internet and network exposures are usually excluded from traditional insurance policies. Riskworks, however, works with leading cyber risk insurers to develop cyber risk insurance protection including:

• Liability, privacy and confidentiality

 • Telephone and mobile hacking

 • Copyright trademark and defamation

 • Malicious code and viruses

 • Business interruption and computer failure

 • Attacks, unauthorised access, theft, website defacement and cyber extortion

 • Technology errors and admissions

 • Intellectual property infringement

 • Consequential reputational harm