Don't be a cybercrime victim

27/02/2020 17:45

Cybercrime is a growing threat to all businesses in all sectors and all sizes, from sole traders and the self employed, to large corporates and multinationals. According to analysis from Beaming, UK businesses faced an average of 146,491 attempted cyber-attacks in the second quarter of 2019. This equates to one attack every 50 seconds and is the highest level since 2016. Over the summer of 2019 British Airways was the first British company to be fined under the EU General Data Protection Regulation (GDPR).

What is the Likelihood of a Cyber Attack and What Financial Damage do they Cause?


Many small businesses think they are unlikely to be impacted by a cyber attack because the hackers target larger companies. However, this is simply not the case. SMEs are very much in the firing line. In fact, almost 10,000 attacks happen every day according to the Federation of Small Businesses (FSB). And according to TechRadar, a staggering 1.4 million SMEs were hit by a major attack in 2018 with the impact of an attack costing nearly £6,500 on average. One in six SMEs spent £10,000 or more to combat an incident, with nearly one in 10 paying out more than £20,000.

What Impact could a Cyber Attack have on Your Business?

Any business that falls victim to cybercrime could stand to lose a lot. It’s not just the financial implications that can be devastating but also the potential damage to the reputation of your business. Will you lose customers as a result? Will your customers trust you with their data again? While large companies may have the resources to be able to recover faster and more easily, for freelancers and small businesses, recovery could take much longer. In the most severe cases it could even be terminal for your business.

Protect your Business with Cyber Breach Response Insurance from Tapoly

As the first and fastest growing Insurtech in Europe, Tapoly provides on-demand business insurance. Tapoly strives to build the right products to ensure that you are suitably protected from emerging risks, such as cyber-attacks. And you don’t have to tie yourself into an annual policy if you don’t need it. Tapoly's Cyber Breach Response insurance, which comes as an optional add on when you choose the Professional Indemnity insurance, can give you the peace of mind that your business will be able to recover from the impact of a cyber-attack.


The Cyber Breach Response can provide the support to enable you to locate the source of the security breach, helping you to protect your business against future attacks. They’ll also cover you for any essential data lost through the breach, while their call centre, credit and identity monitoring services, will take care of all the legwork required to help you make a full recovery and get you back up and running.


Protect your business from the potentially devastating and costly havoc that could be wreaked by cybercrime.


Find out more about Tapoly Cyber Breach Response and check their full list of products and prices.

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