Silent Cyber Risk

This explains the importance of understanding silent cyber risks and the limitations of professional indemnity (PI) insurance for cyber events, emphasizing the need for dedicated cyber coverage.
Cyber Insurance and PI Policies
•    Many PI policies exclude cyber-related losses, including cyber acts, malware, data breaches, and system failures.
•    Certain cyber events, like client liability or professional errors, may be covered under PI.
•    Cyber policies are necessary for comprehensive protection against first-party and third-party cyber risks.
Risks for Accountants
•    Accountants handle sensitive data, making them attractive targets.
•    Limited cybersecurity measures and awareness increase vulnerability.
•    Cybercriminals may exploit data for extortion or fraud, impacting reputation and finances.
Conclusion
•    Relying solely on PI is insufficient; a dedicated cyber policy offers higher protection.
•    A free risk assessment is available to identify vulnerabilities and strengthen defenses.
 For  a free copy of our Silent Cyber Information visit
https://www.accountancypro.co.uk/silent-cyber-and-professional-indemnity-insurance

or contact: 

malcolm.richards@accountancypro.co.uk