Buyer's guide · 2026
Best Specialist Business Insurance
Beyond liability, businesses face specific exposures — a data breach or a cancelled event can be financially devastating. Specialist policies cover the risks a general liability policy leaves out.
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| Cover | Best for | Typical UK premium |
|---|---|---|
| Cyber Insurance | Cyber insurance covers financial losses from data breaches, ransomware attacks, and other cyber incidents — including regulatory fines, business interruption, and crisis management costs.. | £200–£3,000/yr |
| Event Cancellation Insurance | Protects event organisers against irrecoverable costs if an event must be cancelled, postponed, or abandoned due to circumstances beyond their control.. | £80–£2,000/yr |
1. Cyber Insurance
£200–£3,000/yrCyber insurance covers financial losses from data breaches, ransomware attacks, and other cyber incidents — including regulatory fines, business interruption, and crisis management costs.
Covers
- Data breach costs — notification, monitoring, legal
- Ransomware payment and data recovery
- Business interruption from cyber incident
- ICO/GDPR regulatory defence costs
Excludes
- War and nation-state attacks (check LLOYDS exclusions)
- Unpatched systems known to be vulnerable
- Fraudulent internal acts
Available in: United Kingdom, Ireland, Germany, USA
2. Event Cancellation Insurance
£80–£2,000/yrProtects event organisers against irrecoverable costs if an event must be cancelled, postponed, or abandoned due to circumstances beyond their control.
Covers
- Venue cancellation or unavailability
- Cancellation due to adverse weather
- Key speaker or performer withdrawal
- Terrorism or civil unrest at venue
Excludes
- Poor ticket sales
- Financial failure of event organiser (insolvency)
- Cancellation by choice
- Pre-existing known risks
Available in: United Kingdom, Ireland, Europe
Frequently asked questions
What types of specialist business insurance are there?
The main options are Cyber Insurance, Event Cancellation Insurance. Each protects against a different risk, so the right choice depends on your circumstances.
How much does specialist business insurance cost in the UK?
Typical annual premiums in this category range from £80 to £3,000 per year depending on the cover and your circumstances. Get a live quote for an accurate price.
Does my business need cyber insurance under GDPR?
GDPR does not legally require cyber insurance, but the ICO can fine up to 4% of global turnover for data breaches. Cyber insurance covering regulatory defence and fines is strong mitigation against this exposure.
Does event cancellation insurance cover bad weather?
Yes — most event cancellation policies cover cancellation or abandonment due to adverse weather that makes the event unsafe or impossible to run. Check that your policy includes an "abandoned events" clause and the exact weather trigger conditions.
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GeraSure is a comparison and referral service. Insurance products are provided by FCA-authorised or equivalent regulated insurers in each jurisdiction. GeraSure does not underwrite insurance policies and does not provide financial advice. Always read the policy wording before purchasing.