Symantec and Hiscox Launch Cyber Security Software + Insurance

Whether it’s Russian hackers, ransomware demands or ID fraudsters, cycber attacks are something that no business can ignore. An estimated 48 percent of UK small businesses were hit last year and so leading insurer Hiscox and Symantec/Norton have partnered up to launch a brand new service.

Cyber-insurance hiscox small biz

Getting insurance against cyber attacks is an essential part of business today

The product is aimed at firms employing fewer than 20 people and includes virus removal, as you’d expect from Norton. More importantly, this anti-cyber software also offers insurance back-up, such as costs incurred from a data breach, ransom demands, damage to IT systems and other liabilities that may arise from a sustained attack.

Research by Symantec suggests that about one in every 130 emails contains some type of malware, or virus. This is the highest rate of email infection in the last five years. The UK remains at position number seven, in the list of countries which suffer cyber attacks.

norton small business anti-cyber attack software

Large organisations such as the NHS, or Experian, can suffer data problems, but hackers will also target smaller firms. A 2017 survey of SME decision-makers found that;

61 per cent have network firewalls

50 per cent change passwords every three months

Just 32 per cent have data breach action plans in place

Stephen Ridley, Lead Cyber Underwriter at Hiscox UK and Ireland, commented:

These days it’s not a case of if a cyber-attack will happen, but when. That said, knowing what protection is right for your business can be a challenge, as the risks posed by cybercriminals continue to evolve. It’s vital that all businesses are proactive in protecting themselves against cyber-crime. For smaller enterprises in particular, this can often be a challenge, which is why we’ve teamed up with Symantec to bring these core capabilities together in one package.”

More information on the complete cyber offer from Hiscox, and Norton by Symantec is available here. 

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