Do I need Insurance for my Online Business?

In years gone by, many people have done their shopping in their local shops and even when online shopping became available, a lot of people did not feel comfortable using their credit cards and giving their personal information to online stores. How the times have changed! Online business in Ireland is a massively growing market. Many people are still anxious about security when it comes to buying online, however a lot of people today are prepared to buy online. The internet has changed the way the business world works. Not only does online business bring you into the 21st century, but it makes it a lot easier for your customers and potential customers to learn and research about your products and services. With any type of company online, seeking business cover is a very smart investment in order to protect your online business.

With an online business, you don’t have to worry about your store being broken into or theft, but there are the worries of your website being hacked into. This is where a business cover policy comes into play. Insurance can be a tricky topic, especially business insurance but here we are going to go through in detail the insurance that you need for your online business.

Types of Insurance available for businesses online  

By owning an online business, your many responsibilities include way more than just running your website, social media, digital agency marketing strategies, emails, managing stock, and customers sensitive data. All these responsibilities can make room for error but they are also preventable too.

Cyber-insurance is an insurance product used to protect businesses and individual users from Internet-based risks, and more generally from risks relating to information technology infrastructure and activities.


Coverage provided by cyber-insurance policies may include: 

  • Ransom & Extortion
  • Cyber theft
  • Hacking
  • Denial of service attacks
  • Technology Errors & Omissions (Professional Indemnity cover)
  • Data Breaches
  • Regulatory Fines
  • Post-incident public relations costs
  • Intellectual Property rights infringement
  • Defamation
  • Business interruption
  • Employers Liability
  • Public Liability

Businesses in Ireland are not obliged to take out an insurance policy, however, neglecting to protect your finances and your business is not worth the risk. The potential compensation and legal costs surrounding a claim can have serious repercussions. It is important to work with a professional insurance broker that will understand the specifics of your business and sit down with you to go through which policies are best suited to you and your online company.