Cyber and Tech insurance

Skeptical about Cyber insurance and its role in your risk management plan? You’re not alone – until you get attacked. When the very survival of your business is under threat, Cyber insurance gives you someone to turn to. 
 

Cyber risk is universal; every company is attempting to mitigate it somehow.  With risk mitigation initiatives, you rightly demand bang for your buck. Standalone cyber insurance is one of the most inexpensive components of your risk management planning. 

Buying a cyber policy is one of the most cost effective risk management options and can result in significantly reduced spend on more expensive professional indemnity cover.

If you have insurance you can expect a fast expert response from:

1. IT analysts and Forensic experts to identify the threat quickly

Using genuine specialists who know the modus operandi of the criminals and the nuanced behaviour of the latest threats companies can get to resolve the breach faster. 

Forensic specialists deal with these threats every day – they hunt down the breach and restore security, to stop further business interruption and even prevent regulatory investigations. Having these experts work alongside your team is a must-have for any security breach incident.

2. Specialist lawyers to advise on incident handling and regulatory fallout  

Get prompt orientation from lawyers with extensive experience with Digital Law, to help navigate a complex compliance situation and, if necessary, act out in cases involving legal/regulatory actions.

3. Public relations experts with deep experience in crisis communications

Cyber incidents can have big image repercussions and negative media, bringing unwanted consequences for your clients and existing stakeholders.

Maybe it’s not for you, but having diverse experts on hand can save you time when you are trying to contain your losses before they get completely out of hand.

Breaches are a stressful situation for even the best in-house talent. Expert help is advantageous all around - and you don’t want to pay the nose for specialists when your cyber crisis is already in full swing.