LARGE or small, no business is immune to the threat of cyber criminals. With an ever-increasing reliance on technology, the consequences of a cyber-attack range from temporarily putting a business out of action to financially destroying it.
Business owners often have the misconception that they are adequately protected by a traditional insurance programme; their IT security system; and contractual agreements with third party providers
This is rarely the case and irrespective of any of the above, it does not afford the business any proactive assistance in the event of a critical cyber incident.
A cyber insurance policy however provides so much more than just insurance, a good cyber insurance policy will also provide a wide range of additional support including:
• 24/7 access to IT forensics, Data breach/Legal experts and Public Relations advisers, to provide support in the event of an actual or suspected cyber Incident – rapid response to an incident is essential to mitigate losses and potential litigation from third parties
• Support in complying with Data Protection Legislation and Notification obligations in the event of a data breach
• Data…
