Cyber Liability Insurance: What It Is and Who Needs It

Cyber liability insurance protects your business against legal claims, fines, and reputational damage resulting from data leaks or cyber breaches that cause harm.

What is cyber liability insurance?

Cyber liability insurance covers your business if a cyber incident causes harm to others. It protects you from legal claims, fines, and reputational fallout.

Where standard cyber insurance focuses on your own losses, cyber liability steps in when customers, suppliers, or regulators hold you responsible.

It’s most often used after:

  • A data breach that exposes personal or payment details.
  • Malware from your systems is infecting another business.
  • A regulatory body launching an investigation under GDPR or PCI-DSS.
  • A client is suing you for negligence after a security failure.

According to government data, 50% of UK firms reported a material cyber incident in 2024, yet only one in five carried a standalone cyber policy.

For many businesses, cyber liability insurance fills a gap that standard cover leaves open. It’s the legal and financial buffer that protects when others are affected by your breach.

What does cyber liability insurance cover?

Cyber liability insurance protects against the legal and financial consequences of a breach that affects others. It focuses on third-party claims, not internal losses. It helps your business respond when you're held responsible for a cyber incident.

Most policies include the following. Always check the policy wording to confirm what’s covered.

Legal costs and compensation claims

A serious breach can trigger legal claims. If a client loses money or a supplier’s systems are affected, your business may be blamed. Cyber liability insurance covers the cost of defending those claims and paying compensation if you're found liable.

This includes legal advice, court representation, and the cost of settling disputes tied to negligence, contract breaches, or poor data handling. Even if the claim doesn’t succeed, the legal fees alone can be significant. 

A policy that includes third-party cover gives you the resources to respond without draining your business.

Regulatory investigations and fines

Regulators can launch investigations after data breaches, and the response is rarely cheap. Cyber liability insurance can cover:

  • Legal advice and expert input
  • ICO or FCA investigation support
  • Fines and penalties were legally insurable

This cover is most important for businesses subject to the GDPR or PCI-DSS.

Breach notification and response costs

You may be legally required to notify customers or regulators if personal data is exposed.
This part of the policy typically includes:

  • Drafting and sending notification letters
  • Providing credit monitoring or identity protection
  • Managing regulator communications

Some insurers include dedicated breach response teams to guide you through the process.

PR and brand protection

How you manage a breach in public can make or break trust. A poor response often does more damage than the incident itself. If the breach makes headlines or is reported on social media, cyber liability insurance can help fund expert assistance to manage the fallout.

Most policies include access to crisis communication teams who guide you through the response. They help draft statements, handle media enquiries, and monitor reactions across various channels.

They can also work with you to rebuild confidence with customers and stakeholders in the days and weeks that follow. Clear, timely communication is essential. Without it, even a small breach can spiral into a long-term reputational issue.

Online liability cover

If hackers alter your online content or misuse your digital platforms, your business may face claims. Cover typically includes:

  • Defamation or slander
  • Copyright infringement or IP violations
  • Harm caused by hijacked websites, email systems, or social channels

This is critical for businesses with public websites, blogs, or client-facing portals.

Who needs cyber liability insurance?

Any business that holds data, delivers services online, or connects to clients digitally can be held liable after a breach. Cyber liability insurance helps cover the fallout when others are affected by a security failure of yours.

It’s not just for big firms. It’s for anyone who could be blamed.

Businesses that store personal data

If you collect names, emails, payment details, or health records, you’re responsible for keeping them safe. A breach that exposes this data can trigger legal claims and regulatory investigations.

This includes: Retailers with customer accounts, service providers managing client data, and employers storing staff records.

Online retailers, SaaS, and service providers

Digital businesses face higher exposure. If your platform is compromised or your service is interrupted, clients and customers may suffer losses.

You’re at risk if you:

  • Run an online store
  • Provide access to cloud-based tools
  • Manage payments, bookings, or user accounts

If clients depend on your uptime or security, liability cover is essential.

Freelancers and consultants handling client info

Independent professionals often work without in-house IT support. Yet they handle client data, log into external systems, and send sensitive files.

This applies to:

  • Accountants and financial advisers
  • Designers and developers
  • Legal consultants and HR contractors

A mistake, breach, or lost laptop can lead to serious claims.

Industries with regulatory risk (finance, healthcare, legal)

Some sectors face tighter rules and tougher penalties. Cyber liability insurance helps meet regulatory expectations and absorb the cost of investigations and fines.

These sectors include:

  • Law firms
  • Financial services
  • Medical or care providers

Many regulators no longer expect cyber to be covered by standard policies. They assume you’ll arrange dedicated cover.

Do I need cyber liability insurance if I already have cyber insurance?

Maybe. It depends on what your current policy includes.

Standard cyber insurance usually covers your own costs. That means data recovery, system repair, or business interruption. It helps you recover after an attack.

Cyber liability insurance is different. It covers claims made against you. That includes legal defence, compensation to others, and regulator investigations. If someone suffers a loss and blames your business, liability cover responds.

Some cyber policies include both. Others don’t. You’ll need to check the details.

What It Covers Cyber Insurance Cyber Liability Insurance
Your own data recovery Yes No
System repair and response Yes No
Income loss during downtime Often No
Legal defence against third-party claims Sometimes Yes
Compensation or settlements Sometimes Yes
Regulatory fines and investigations Sometimes Yes
PR costs for reputational damage to others No Yes

If your policy doesn’t clearly cover third-party claims, it likely doesn’t. Most businesses need both to stay protected.

How much does cyber liability insurance cost in the UK?

There’s no fixed price. Premiums vary based on your risk level, the data you hold, and the cover you need.

Most SMEs can expect to pay between £300 and £5,000 per year for cyber liability insurance. High-risk sectors, like finance, legal, or healthcare, may pay more. So do businesses with large data volumes or weak security controls.

Read our detailed guide on cyber insurance costs to understand current prices, considerations and other important factors to help you make the right decision.

What affects the cost of cyber liability insurance

Insurers don’t use a fixed price. They look at how your business works, what you handle, and how prepared you are for an attack.

Here’s what usually shapes the quote:

  • Business size: Larger firms often pay more. Turnover, staff numbers, and system complexity all increase exposure.
  • Industry sector: Some sectors face more risk. Finance, healthcare, and legal firms deal with sensitive data and strict rules.
  • Type of data: If you store sensitive information, such as payment details, health records, or personal data, expect a higher premium. That data brings higher stakes.
  • Security setup: Insurers check for controls like MFA, encryption, offsite backups, and regular staff training. Weak setups lead to higher costs.
  • Claims history: A past breach or major incident can push your premium up. A clean record helps keep it down.
  • Cover limits and excess: More cover means more cost. Lower excess means the insurer carries more risk, which also raises the price.
  • Policy type: Some cyber policies include liability. Others don’t. If you need to add it separately, expect an extra charge.

Stronger controls mean better quotes; insurers want proof you can handle risk before they agree to cover it.

What small businesses might expect to pay

Most small businesses in the UK pay somewhere between £300 and £6,000 per year for cyber liability insurance. Your actual cost depends on how exposed your business is, how much cover you need, and how strong your security setup is.

To give you a clearer picture, here are some typical examples:

Business Type Estimated Annual Cost What Influences the Price
Freelancer or micro agency £300 – £750 Small client base, limited data, basic cover needed
Creative or marketing agency £500 – £1,200 Some client data, cloud tools, moderate liability risk
SaaS business or IT services firm £1,200 – £3,000 Handles customer platforms, access to sensitive data
Online retailer or e-commerce brand £1,000 – £2,500 Manages payment info and accounts, risk of customer claims
Accountancy or financial adviser £2,000 – £4,000 Holds financial records, often requires regulatory support
Law firm with GDPR exposure £3,000 – £6,000+ High sensitivity data, sector risk, potential for high claims

What to check before you buy cyber liability insurance

Cyber liability policies vary, and the wording matters. Before you commit, check these three areas to make sure the cover fits your business.

Coverage limits and exclusions

Look at the policy limit. Is it enough to cover a serious claim, including legal defence, compensation, and regulator action? 

Check the exclusions too. Some policies won’t cover social engineering, poor security practices, or claims from known but unresolved issues.

Claims response and support

Good cover means nothing if the claims process fails. Ask how fast the insurer responds. Is there a breach hotline? Will you deal with legal experts or a generic call centre? 

Quick action can stop a bad situation from getting worse.

Fit for your business

Every business has different risks. If you store customer data, sell online, or work with regulated clients, you need a cover that reflects that. Don’t choose based on price alone. A cheaper policy that doesn’t respond when needed isn’t a good value.