Because it is critical to your business’s continuity plan!
No matter how carefully your organization has set up your cybersecurity protocols, you can still become victims of a costly cyber event. We work closely with your business to assess your cyber exposure, provide guidance with respect to risk mitigation solutions and build bespoke solutions to respond to your needs as they navigate the evolving risks of a connected world and the potential impact on your business.
We can provide a quick roadmap and point you in the right direction based on risk exposure.
- Are you prepared to comply with the legislative requirements of a data breach?
- Are you prepared to navigate a cyber-extortion event?
- Do you know your true business interruption exposure through your networks/source code/vendors?
- Do you know how you would recover your brand and stakeholder relationships from a breach?
A cyber insurance policy is a valuable support mechanism to the cyber security infrastructure, it can provide a balance sheet and income sheet protection and provides access to a suite of rapid response services and experts to support your business continuity & response plans.
For example, in the event of a cyber incident a range of specialists are required such as forensic cybersecurity specialists to assess the scope of the damage; lawyers for advice on obligations regarding privacy legislation; PR firms and crisis communication specialists. There is coverage for costs associated with notifying affected individuals as well as remediation expenses, including credit monitoring and establishing call centers. Cyber policies are designed to cover lost income and accrued expenses as a result of a cyber incident as well as costs to restore the data and network.
In the absence of cyber insurance, your organization would be left with unbudgeted costs and expenses in complying with privacy regulatory bodies not to mention left on their own in sourcing/vetting specific required resources.