Digital Shield
Digital Shield is an insurance package for small-medium businesses that have operations involving online products, services (including SaaS) or apps.
With so many businesses embracing digital transformation, using innovative technologies and shifting towards internet-based tools, the opportunity to maximise profits and achieve efficiencies is huge – and let’s face it, it’s hard to do virtually anything without email therefore basically every business now falls into this category.
With this shift to digital and many new small businesses entering the market as purely digital businesses, the risk of cyber attacks, data theft and business interruptions has never been greater – or more costly.
Insurance is a valuable tool for businesses to ensure they are ready to continue operating in case of unexpected events. By maintaining stakeholder trust and quickly getting back to normal, businesses can benefit from a mix of specific policies.This approach provides a strong safety net to manage the variety of risks businesses face and ensure you have the right support if it is ever needed.
What is Digital Shield?
Aspect SME Insurance’s Digital Shield is a set of insurance policies specifically for businesses to ensure they are protected against the risks of doing business online.
An effective insurance program reflects these risks – and ensures the business is supported in the event that risk becomes an actuality.
Digital Shield uses a combination of insurance policies that cover risks involved in digital activities. This provides an extremely effective way to protect an SME and its assets from risks and losses relating to the use of the internet and technology.
Sourcing SME friendly digital insurance products that work in with your existing policies/coverage can be a nightmare – and if it doesn’t match your actual risk, it can be extremely expensive too!
We’ve negotiated core policies and coverage that will best fit the SME market along with a suite of optional policies which we can include or exclude based on the actual business operations and associated risk – ie. it’s not a one size fits all approach.
– and, best of all, our dedicated small business insurance broker tailors coverage to match every particular business – and its particular risk.
What policies does Digital Shield typically include?
Digital Shield typically includes the following core policies, with the level of cover adjusted to match business operations and risk.
1. Cyber Insurance
Cyber insurance minimises the impact of cyberattacks and safeguards against financial loss and claims for liability resulting from a breach of data privacy
2. Intellectual Property and Trademark Insurance
Our IP Insurance includes cover for trademarks, patents, designs, copyright, and trade secrets and provides coverage for an array of IP and trademark-related risks.
3. Management Liability Insurance
Covering the business’ management (directors and officers) against legal and financial liabilities.
Optional policies that are sometimes included where the business operations mean a policy covering that risk makes sense (it is not a one size fits all approach).
4. Legal Expense coverage
Legal Expense Insurance comes with helpful legal documents drafted by third-party lawyers, containing general information or in the form of examples and templates. Policies provide Document Review Cover which allows two eligible documents reviewed by an Appointed Advisor during the Period of Insurance.
5. Business Insurance
Being covered by a business Insurance can help your business effortlessly face business disruptions with minimal impact to your operations.
6. General Liability
A General Liability policy combines Public Liability, Product Liability and Advertising Injury and protects businesses from legal claims
