Data Processing Insurance

Professional Saver Data Processing Insurance

Our standard cover is:

• £1 million cover for public and products liability (with an option to increase to £2 million, £5 million or £10 million)
• £10,000 cover for any financial loss (£50K cover optional)
• Worldwide liability cover for temporary work abroad for up to 14 days (excluding the USA and Canada)

As a data processor entrusted with sensitive client information, having comprehensive insurance is crucial to protect your business in the event of professional negligence or public liability claims.

Our tailored policies provide end-to-end support, from expert incident response to legal representations and financial covers, giving you complete peace of mind. If you’re looking to protect yourself, your business, your employees and the general public

What Is Data Processing Insurance?

Data processing insurance protects companies carrying out essential outsourced services like data entry, form filling, transcriptions, scanning, OCR, image tagging, data cleansing, analysis and migrations that rely on access to sensitive client information assets.

However, substantial liabilities arise from:

• Breaches of securely stored customer data in systems
• Financial loss for data owners if errors render the information unusable
• Reporting inaccuracies resulting in incorrect business decisions
• Parsing flaws wrongly profiling individuals

Robust data security measures protect valuable insights, allowing processors to confidently unlock data’s potential for informed organisational decisions, free from legal worries.

Why Data Processors Need Specialist Insurance

With data now an integral business asset, providers who store, handle and analyse sensitive information must protect themselves against inevitable mistakes or incidents:

Human Error

Human errors like misdirected emails containing private data or incorrect database entries are risks despite stringent processes. Simple mistakes can lead to serious breaches.

Changing Regulations

As privacy legislation evolves globally around consumer data usage, storage and processing companies can easily fall foul of new rules. Substantial fines now apply for regulatory non-compliance – up to 4% of global turnover under GDPR.

If uninsured, one small slip can quickly spiral into substantial breach disclosure plus regulatory and legal costs. Our data process policies give you total peace of mind that your insurer will handle any incidents.

Who Can Benefit From Data Processing Insurance?

Our data processing insurance packages cater to typical activities like:

Data Management

• Data entry and form filling
• Managing customer databases
• Cloud storage and backups
• Website data capture
• Data transfers to third-party systems

Data Analysis

• Data reporting and visualisation
• Statistical modelling
• Data mining to support business decisions
• Machine learning and AI development

Information Handling

• Paper record archiving and scanning
• Managing confidential documents
• Secure information destruction
• Physical storage and transportation

We have experience covering data handlers across sectors from IT to healthcare to legal firms. If your business stores or interacts with client data, we can protect you.

Added Protection For Subcontractors

Our data processing policies extend to cover any freelance staff, subcontractors or outsourced providers that collect, analyse or handle data under contract to you. We provide the same expert breach response and financial covers, whether incidents arise internally or via third parties.

This ensures you meet compliance obligations around supplier due diligence while benefiting from seamless protection.