Companies such as Apple, Facebook, Google and Ryanair have found this out the hard way.
For example: what would you do if:
The number of cyber-attacks against businesses in Ireland have rose from 20% in 2012 to 44% in 2016*.
In addition, the new General Data Protection Regulation will come into effect on the 25th May 2018.
This regulation will place greater requirements on a business owner (who is a data processor or controller).
A breach of these regulations could result in a fine of up to €20m or 4% of Global Turnover**.
At Murray & Spelman Ltd, our Cyber Team will design a package of covers that is right for you and your business, giving you the protection you need.
If you wish to discuss your Cyber Insurance requirements in more detail, please contact Colm Scully in our Galway Office on: 091 759500 or Rick Dawson in our Kildare Office on: 045 888088.
Alternatively, you can request a call back on our website today.
*Cyber – IBA magazine December 2017. **Data Protection Website.