Things to Consider When Looking for Cyber Insurance
Today is National Insurance Awareness Day! Cyber Insurance is an area that is not well understood by many firms, especially SMBs. Below are some key points to take into consideration when shopping for cyber insurance:
Cyber insurance is not a substitute for implementing strong security measures in your company. It is a safety net to help you lessen the impact and recover from a breach, and many cyber insurance programs are maturing to provide more benefits as noted below.
Cyber insurers are requiring your companies to demonstrate that strong security programs are in place and that you employ or contract knowledgeable cyber security experts to guide your company.
Seek carriers that go beyond simply writing policies to cover a cyber breach by helping you prevent successful attacks and perform forensics to determine and shut down the source of the attack as well as recover your systems.
Work with insurance brokers who have specific cyber security expertise to help you find the right coverage at the right price.
For Commercial Real Estate owners and operators, your cyber insurance program needs to provide coverage not just for your corporate systems and assets, but also your properties and the building management systems at the properties.
A strong cyber insurance program should provide a measure of resiliency to your overall security posture as long as you refrain from becoming complacent! To learn more about how to build a comprehensive cyber strategy, email us at email@example.com.