At WillU, we are more than just a business insurance broker – we are your strategic partner in cyber risk protection. We combine deep technical insight, market access, and a client-centric approach to brokering cyber insurance policies that evolve with your business.
Cyber attacks are surging in frequency and complexity. Digital transformation, remote working, cloud adoption, interconnected supply chains – these are powerful enablers. But they also widen the attack surface for hacks and breaches.
These events demonstrate that cyber risk is not abstract – it can lead to real financial loss, operational downtime, reputational harm, and regulatory exposure.
SMEs are especially vulnerable: attackers often exploit weaker defences. Many small businesses lack dedicated security teams or formal incident response plans. As a result, cyber insurance has become a vital pillar of resilience and risk management.
While policy wordings differ, here are common cover components across first- and third-party cyber liability policies:
Some insurers in the UK, such as Aviva’s Cyber Respond, bundle 24/7 incident response services, business interruption, system damage, and liability / regulatory cover in modular form.
SMEs are likely to be susceptible to cyber attacks. In fact, 50% of small UK businesses and 67% of medium UK businesses detected a cyber breach or attack in the past 12 months.
| Major legal, forensic, and regulatory costs after breach |
| Weeks of downtime, lost sales, customer attrition |
| Damage to brand and trust |
| Contractual exclusion from working with clients or partners requiring cover |
| Total business failure in extreme cases |
| Costs absorbed (within limits) |
| Faster recovery with specialist support |
| Reputation management baked in |
| You meet client / supplier cyber requirements |
| Resilience and continuity |
Many SMEs view cyber insurance as discretionary. In truth, it’s an investment in risk transfer, resilience, and credibility.
The cost of a cyber breach can easily run into six or seven figures; spreading that exposure via insurance is often more economical than absorbing the full risk.
Our latest blog offers more insight into recent cyber attacks in the UK and the impact it had on these businesses.
Traditional commercial insurance covers property, liability, etc. Cyber insurance specifically addresses digital risk – data breaches, ransomware, system failure, business interruption from cyber events, and third-party privacy liability.
Premiums depend on many factors: industry, turnover, number of employees, security controls, history of claims, and chosen limits. As your risk profile improves, premiums can become more competitive.
Many policies offer regulatory liability cover, but this depends on local law and whether fines are insurable in your jurisdiction. Always check policy wording and insurer appetite.
Some policies include cyber extortion / ransomware cover, but payments may be subject to legal, ethical, and underwriting constraints. The incident response team often handles negotiations.
It depends on insurer underwriting. Past incidents may lead to higher premiums or exclusions, but many insurers still offer cover – especially if you’ve improved your security posture.
You should model the worst reasonable scenario for your business (in lost sales, fixed costs, recovery time) and choose a limit accordingly. We help you calibrate this during the assessment phase.
No – insurance is not preventive in itself. Its value lies in mitigation, recovery, and financial resilience. That’s why combining strong security practices with insurance gives the best defence