Cybersecurity Month 2023 Everything Digital: Safeguarding Your Business at First Hand

Any organization that uses the internet to run its business is at risk of data breaches and cyberattacks. Even the White House held a Summit on Cybersecurity and Consumer Protection. The internet is essential for everything from digital systems to daily business operations. That being said, most businesses do not understand and are not fully aware of the risks of relying on the internet. So, is it really a bad thing to do? NO. The internet is already an integral part of business, and it can also be used to strengthen it. This is where Cyber Insurance comes in and plays its role.

What is Cyber Insurance? 

As defined, it is a product that allows businesses to reduce their exposure to cybercrime activity, such as cyberattacks and data breaches. It shields businesses against the financial burden of online threats that impact information governance, IT infrastructure, and information policy.

Types of Cyber Insurance

• Personal 

• • Includes the people involved and is basically designed for everyday online users. This encompasses identity theft, malware activities, cyberstalking, IT theft, and liabilities. 

•  Cyber Liability

• • This covers relevant attacks to IT companies, mainly caused by others. It is a measure against data breaches, data errors and theft, and sensitive information. 

Why is it Important? 

In this digital era, cyber threats have evolved into bigger but invisible monsters that compromise businesses. Cyber insurance provides financial protection to bridge the breach. It is designed to help business owners relieve their financial burden and raise awareness of cyberattacks. 

WHO CAN HELP? Go and seek a trusted insurer. Find one who will be there for you from compliance to communication. Caring for your business requires a lot of hard work, so let somebody help you with it. Contact us at [email protected] for more information.