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General FAQs

Yes, it should be a core coverage every business has with the cost of cyber incidents often exceeding several million dollars when you include the cost of lost data, the costs to restore your systems, the cost to notify and insure thousands of affected customers, damage to your reputation, etc.

Even with the best cyber security, falling victim to a cyber attack or data breach is not a question of IF but WHEN. Cyber attacks have increased by 574% in 2020, with 73% of attacks targeting small businesses. Good cybersecurity helps reduce the likelihood of an attack, but it doesn’t eliminate it. Cyber insurance acts as a last line of defense, assuring that your business will survive and recover if a cyber incident does happen.

DataStream pays to get your technology and business back up and running; covers costs suffered while your systems are down, helps pay to harden your systems, covers liability from confidential data losses and damage to other businesses, and helps to repair your reputation.

Think of cyber insurance like car insurance – even if you have the best technology on the market, or you drive the best car, sometimes in life something will suddenly appear that you can;t defend yourself against. In a car, it could be another driver pulling out unexpectedly at a crossroads, and giving you (and your car’s technology) no time to react. The car’s technology might save your life, but without the insurance how will you pay for the car to be replaced so you can continue on your journey. Cyber insurance is there to do the same. If, and it is an if, you get hacked or breached by cyber criminals, cyber insurance is there to help pick up the pieces and get your business back up and running again. It’s helps cover the costs of things like data loss, replacing technology, legal fees and all the other issues a cyber attack causes. Read more about our coverage here.

There’s no one-size fits all approach – because every business is different and so the costs involved in supporting you to get back on your feet after an attack are individual to your business. At DataStream, our focus is firstly, on supporting you and your business, with the help of your cyber security technology Managed Service Providers (MSPs) to be more resilient before an attack ever happens. But as part of that process, we also work with you to understand your risk profile, and what you would need if attacked, and we work the policy out that way. By partnering with you and your technology providers, we can more intimately assess the level of support you need, so you get everything you require, without paying a cent more than you need.

In essence there are two kinds of coverage you need – although at DataStream we don’t exclude either from every policy we sell. Firstly, there is first-party coverage – in other words, the damage done to your business. DataStream has broad first-party coverage ensuring we cover losses and damages done to your company’s computers, networks, IT systems, data, and business (things like reputational damage or the need for external services like legal) resulting from a cyber attack. The second element is third-party coverage – or damage done to third parties you work with or serve – like customers. Here, again, DataStream offers comprehensive third-party coverage including losses or damages like data loss or stolen information.

The key thing here is only to reduce your premium cost, rather than reducing your cover. At DataStream we work with you and your MSP to constantly assess and improve your cyber resilience, by assessing your tech stack against known threats and supporting in areas like staff training – for example helping colleagues understand the threat posed by phishing emails. Because we, uniquely, work as partners in the cyber security sector to increase resilience, and because we are able to more accurately understand your risk, we are able to correctly price our policies to accurately reflect your business – thus lowering your costs.


Small-to-medium businesses that do not offer IT consulting services to assist in managing the technology and security of other businesses.


IT Consultant businesses (MSP, MSSP, etc.) that manage the technology and security of other businesses.