by Mariam Clementson ,
Sales Leadership - Manager: Consumer & Commercial
25/04/2022 · 2 minute read
There are numerous risks that can affect businesses in the food service, catering and hospitality industry. Traditional risks and insurance cover will always need consideration, such as:
In our experience, technological developments in the industry have meant that the risk of cyber-attacks have received renewed interest.
Cyber insurance (also referred to as cyber risk or cyber liability insurance) is a form of cover designed to protect your business from threats in the digital age, such as data breaches or malicious cyber hacks on work computer systems.
Hackers gained unauthorised access to account information located on a network due to an unknown vulnerability. The account information included names, email addresses, national ID numbers, and the financial account information of 20,000 contacts. After multiple people reported suspicious activity on their email, IT discovered that an unauthorised user was in the system. The insured telephoned their insurer hotline.
This scenario highlights the importance of storing sensitive information under the necessary protections. Up to date firewalls, intrusion detection software, and encryption of databases are just a few ways to responsibly maintain the privacy of employee and customer information. This example also highlights the many ways a cyber-policy may respond to cyber events.