RMK Insurance Brokers have looked after the business and personal insurance requirements of our family for many years now. We value their flexible approach and practical advice; being able to deal efficiently with the full extent of our various policies is a great advantage. We are able to contact them at any time and get immediate answers, their staff are knowledgeable and friendly. We have recommended them on a number of occasions.
Cyber Liability Insurance is relevant to just about every business as virtually every business will store personal data, use a computer and phone network, digital information or use the internet. Cyber-fraud affects one in eight small businesses every year with fraud losses to small and medium enterprises (SMEs) estimated at nearly £20bn.
Standard business insurance was designed to deal with physical risks such as accidental damage, fire or flood. The digital age has left these standard policies behind and they do not protect valuable business assets which is often their reliance on stored data and networking systems.
RMK are now able to offer a comprehensive and affordable cyber liability insurance coverage underwritten by Hiscox. The cover comprises six key areas:
Breach Costs – This includes breach forensic costs; outside legal fees you incur in managing your response to the breach; costs you incur to notify each affected data subject of the breach; costs you incur to notify any regulatory body, including the Information Commissioner’s Office, of the breach where you are required by any law or regulation to do so; costs you incur to use a third-party call centre to answer enquiries from affected data subjects following notification of the breach to such data subjects; and credit monitoring costs;
Cyber business interruption – Your loss of income, including where caused by damage to your reputation, and any increased costs of working, resulting solely and directly from an interruption to your business commencing during the period of insurance and lasting longer than the time excess, due to:
the activities of a third-party who specifically targets you alone by maliciously blocking electronically the access to your computer system, programmes or data you hold electronically;
or a hacker who specifically targets you alone.
Hacker damage – Losses caused by a hacker:
damaging, destroying, altering, corrupting, or misusing your computer system, programmes or data you hold electronically, or any programmes or data for which you are responsible;
or copying or stealing any programme or data you hold electronically or for which you are responsible; we will pay all the reasonable and necessary expenses incurred with our prior written consent in replacing or repairing your computer system, programmes or data you hold electronically to the same standard and with the same contents before it was damaged, destroyed, altered, corrupted, copied, stolen or misused
Cyber extortion – If you receive an illegal threat, insurers will pay the cost of any ransom demand from the third-party or, if the demand is for goods or services, their market value at the time of the surrender.
Privacy protection – A claim against you for your actual or alleged:
i. breach, violation or infringement of any right to privacy, consumer data protection law, or other legal protection for personal data;
ii. breach of duty to maintain the security or confidentiality of personal data;
iii. breach of any duty of confidence, including in respect of any commercial information; or
Media liability – If any party brings a claim against you for any actual or alleged:
a. infringement of any intellectual property rights;
b. defamation, including libel, slander, trade libel, product disparagement or malicious falsehood; or
c. negligent transmission of a virus; which directly arises from the content of your email, intranet, extranet or website, including alterations or additions made by a hacker
Aimed at SMEs and smaller corporate businesses with an annual income of up to £15m, the cyber liability insurance policy provides cover on a cross aggregate limit basis with Limits of Indemnity starting from £100,000 and rising to £2m. Annual premiums start from £145 plus Insurance premium tax
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- Private & Business client in Dartford
I have introduced RMK Insurance to several of my clients and they have consistently provided impartial advice on all aspects of business insurance and have always delivered an excellent service. I have no hesitation in recommending them.Robert Mears
Business Management Consultant
Excellent service, RMK has provided my company professional indemnity insurance for a number of years and it’s always diligent and hassle free.Jill Willis
I have used RMK insurance brokers for a few years now and they give honest good advice and are there when you need them – when you need to make a claim. On top of that they are really friendly to deal with -what’s not to like !Terry Maylin
We were recommended to use RMK when we started up our new company in 2012 and we have not looked back since. The main thing for me is that it takes all the work out of it for us and Kevin is always on hand for any insurance queries. We have always received honest friendly advice. With their expert knowledge of the insurance market, they have managed to obtain the best possible rates for us and have dealt with any claims efficiently and expediently. I would have no hesitation in recommending them to anyone, either an individual or a business.Katrina
Property and Personal Insurance
RMK Insurance Consultants have been our brokers for the past 21 years for the simple reason that they have always achieved what is in our best interests. We have every confidence in their advice and thus safe in the knowledge that we have the right insurance cover for our business.Martin Cosgrove
M G Cosgrove Construction Limited.