It was after the Great Fire of London in 1666, that some of the world's first fire insurers came to market – but not in the way we might think.
Rather than offering a payout, they sent their own fire brigade to put the fire out.
Each insured building got a metal "fire mark" fixed to the wall. When a fire broke out, the brigade turned up, checked for their mark, and got to work.
Why did it work this way? Because there was no public fire service. If your building caught fire, your insurer was the only one coming. That sounds unthinkable today.
Fast forward to today, and cyber risk isn't so different.
If ransomware locks your systems, a supplier's software is compromised, or criminals gain access to your network, there is no government cyber brigade racing to your office. For most SMEs, you're largely on your own.
This is why the best cyber insurance policies don't just pay the bill. The stronger policies come with the brigade attached:
➡️ A 24/7 incident response hotline when your systems go down.
➡️ Cyber specialists who help contain the attack and minimise business interruption.
➡️ Digital forensics, legal advice, ransomware negotiation (where appropriate), PR support and recovery experts when every minute matters.
The payout matters. But when your business has ground to a halt, what you really need is experienced people who know exactly what to do - and can start helping immediately.
So here's the question worth answering before you need to: If your business suffered a cyber attack at 9:00 tomorrow morning, who would you call first?
#CyberInsurance #CyberSecurity #SME