Is your business protected against a cyber attack?
WannaCry cyber attack infected 230 000 organisations in 150 countries. Its cost was huge. Now every business must ask: am I ready for a cyber-attack?
Why cyber insurance matters to protect you against a cyber attack
From an IT perspective, there are many steps to protect your systems. Yet, the one safeguard often overlooked is cyber insurance. Since WannaCry, we’ve had many enquiries about this cover. It helps with costs for damage, data loss and network disruption.
Simon Gubbins, Managing Director at Robison, said
“IT infrastructure is the backbone of operations. If it fails, you face income loss, reputational damage and costly downtime. While some risks sit in professional indemnity policies, many businesses now choose specialised cyber insurance.”
Cyber risk policies cover first party and third party exposures.
First party risks include:
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Loss of digital assets
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Business interruption
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Ransomware recovery
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Theft of money
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Reputational damage
Third party risks cover:
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Customer data loss
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Security and privacy breaches
However, insurance alone is not enough. Prevention starts with embedding risk management into your daily operations.
Precautions to minimise cyber risk
To reduce the chance of a breach, implement these measures:
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Enrol on the Government’s Cyber Essentials Scheme for certified protection and customer confidence.
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Update network defences regularly and enable auto-updates.
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Install and maintain anti-virus and anti-malware tools.
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Train your team to spot phishing and social engineering.
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Back up data often to a separate, secure location.
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Include cyber scenarios in your Disaster Recovery plans and secure comprehensive cyber insurance.
For further details, check out our cyber insurance page and claim your free cyber risk assessment by contacting us today.