Cyber Risk Management Solution for UKWA Members

Exclusive Cyber Risk Management Solution for UKWA Members

Experts predict that the risks of cybercrime will continue to increase, according to the Global Risks Report by the World Economic Forum. The ‘NotPetya’ attack cost prodigious shipping firm Maersk an estimated $200-300million. The risk is just as great, in relative terms, for small businesses.

Perry Appleton Risk Services have partnered with Britain’s leading trade organisation for the logistics sector – the UKWA (United Kingdom Warehousing Association) to provide an exclusive, tailored Cyber insurance and risk management proposition to help the members to identify and manage their risks.

Why choose our solution?

  • Cybercrime costs UK businesses £27 Billion per year
  • 43% of all UK businesses including micro, small and medium-sized firms experienced some form of attack or Cyber security breach in the last 12 months
  • MOST UK businesses still do not have adequate risk management and insurance arrangements in place

The following are some of the most significant cyber exposures to the industry:

  • The loss or theft of payment details, customer data and employee information
  • Weak links in supply chain
  • Downtime of networks and IT systems causing serious business interruption and financial loss

The proposition includes:

  • Expert support in identifying and assessing risk.
  • Insurance cover provided by Travelers via their CyberRisk policy, tailored exclusively for UKWA
  • Breach response provided by the UK’s leading data breach solicitors
  • Public relations support and advice in the event of an insured breach
  • On going support in managing risk, claims and incident management and business continuity planning

The insurance cover, exclusive to UKWA and Perry Appleton Risk Services, includes:

  • Broad cover/ terms for any size business
  • Payments made on behalf of the Insured
  • Coverage for acts of rogue employees
  • Increased coverage for physical damage to Computer Systems resulting from a cyber event – a UKWA –specific enhancement
  • No retroactive date; Discovery-based coverage
  • Business Interruption coverage triggered by System Failure – a UKWA –specific enhancement
  • Robust terrorism carveback
  • Expressly primary – the policy supersedes any other Cyber cover that may be present as part of other policies.
  • No system-related “gotcha” exclusions (e.g. requirement to keep software updated and operating correctly, encryption, etc.)

Download a copy of the policy overview by clicking on the image below: 

Download a copy of our policy

 


If you are interested in this particular service, please get in touch via the below contact form.