If you lie awake at night obsessing over your cyber security systems, you may have another obsession: Cyber insurance (CI). Will your policy cover a cyber attack? Will your policy cover different attacks? Or will it cover specific attacks and not others?
However, CI coverage protects businesses from lawsuits after an attack on their systems. The most common of settlements awarded to company clients who have lost income. Additionally, they have their stolen company data used against them.
There are many forms of coverage, and the three that cover the basics are as follows.
Liability: coverage of financial harm to a customer. Cybercrime: when a hacker holds company data hostage or steals money from your business electronically. System damage: coverage that pays for the investigative costs, downtime, recovery, repair, legal fees, and other charges of a cyber attack.
If you don’t have insurance, you’re finished.
You need cyber insurance. In fact, The best defence against hackers is to defend your system. Having a pre-plan for an attack could reduce your insurance costs. Showing that you have mitigated your risk by having a complete cyber security audit, which calls for employee training, a recovery plan. Examples, additionally, it provides insurers confidence in your ability to mitigate potential attacks.
Our Cyology experts can get you started. We are the experts in penetration testing and preventing cyber attacks. Call us for a consultation.
