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Cyber attacks are on the rise. And they can cause businesses a great deal of damage. Every business, no matter its size, is a potential target for cyber crime and fraud. And, according to Identity Management Institute, 90% of cyber attacks are successfully executed.
Business owners and managers must ensure they are aware of cyber threats that could impact their business and do all they can to mitigate these risks. However, you can never eliminate all risk and Cyber Insurance provides peace of mind that your business is covered financially if something goes wrong.
This means human error, causing data breaches and cyber incidents. Remember that you’re only as strong as your least informed employee!
Departments should follow documented procedures, ensuring systems and data are protected thoroughly.
External hardware and software will help to strengthen your business’s potential vulnerabilities and mitigate against cyber attacks.
A cyber criminal can target your business in several ways – and this type of crime is ever evolving. Don’t get caught out! Make sure you have the right insurance cover in place to protect you.
Cyber Attack Insurance will protect you for losses caused by business disruption brought about by network failures, privacy breaches or data loss. Cyber Crime Insurance relates to monetary loss due to malicious action from a hacker. This includes social engineering, where an employee is deceived or scammed into giving financial details or making payment to a fraudulent source.
IT Director, Mark Noble details the necessary cyber security precautions all businesses should have in place, as well as how cyber insurance can save and revive businesses. He answers what is cyber insurance, what do cyber criminals want, and what businesses can do to stay fully financially protected.
For more from the Romero Expert Insights podcast series
Taking a deep dive into cyber insurance; the crime, the risks and how to stay protected.