WHY IS CYBERSECURITY INSURANCE NECESSARY?
“Cybercrime is a lucrative business, with relatively low risks compared to other forms of crime. Cybercriminals are rarely caught and convicted because they are virtually invisible. As criminals further monetize their business, allowing anyone to buy pre-packaged malware or hire hackers on demand, the ability to catch the king-pins becomes even more challenging,” said Bromium CEO Gregory Webb. Cybersecurity Insurance is becoming a requirement for many businesses due to increased cybercrime, fueled by how lucrative the industry has become.
DID YOU KNOW?
The simple step of enforcing Multi-Factor Authenication is now often a requirement to secure coverage as insurers look to close a common security gap before they absorb risk.
HAVING A STRONG CYBER SECURITY DEFENSE HELPS REDUCE PREMIUMS.
It can be frustrating paying for a product you are unsure if you need. However, with the hardening of the market due to increasing cybercrime, cyber insurance invariably delivers if the worst happens and you fall victim to a cyber attack.
SELECTING CYBER INSURANCE
The first step is to talk to your insurance agent and review your current policy. Next, when selecting a cyber insurance policy, it’s essential to choose the appropriate level of coverage for your organization. You need to be able to recover successfully and keep your business afloat if you experience a cyberattack – while at the same time keeping your premiums at a reasonable level.
Our partner SOPHOS has provided us with a terrific “Guide to Cyber Insurance.” Download it now to take a deeper dive into the world of cyber insurance. – Download Now
COMPLIMENTARY RISK ASSESSMENT
Speak with your account management team to schedule a complimentary risk assessment. We can determine areas of weakness and which tools are needed to strengthen your defenses