Cyber Insurance

Now that we have come to the end of our 15 steps towards cybersecurity, there is one more thing we want to talk about. If you have read our previous blog posts, it is clear to you that hackers can cause a lot of problems and losses. Especially financially.

This financial loss may be the result of ransom paid to hackers, but it may also be due to other things. Just think of downtime, loss of reputation, potential GDPR claims, etc. that also cause financial loss. It can even get so bad that it can lead to bankruptcy. But please, do not panic, we do not want to scare you. We do want to make you aware of the problem and let you know how you can protect yourself against these serious financial consequences: with cyber insurance.

We kept this step deliberately until the end of the 15 steps, because insurance companies are involved in assessing risks and making offers on that basis. In the small print of these insurance policies, you often find a whole series of requirements before the insurance comes into force.

Compare it with car insurance. If you have insurance for your car, as a driver you must still have a valid driving licence, you must not get drunk and you must respect the code of the road. Otherwise, your insurance will not intervene.

The same applies to cyber insurance. A company and its users have to work within a security model, which means observing as many of those 15 steps as possible. If you comply with these steps as a company and can prove it by reporting on them, a cyber insurance pays out in case the unfortunate happens.

However, as a company, it is rather difficult to monitor all this accurately. That is why we are happy to help you with this! As an IT security partner, we can help you with the compliance part of the insurance. This also reduces the risk in the eyes of the insurance company and leads to lower rates. A win-win situation!

Voila, that was it, our roadmap to better security! Do you have any questions about one of the steps? Would you like to know more about cyber insurance? Or would you like to conduct a mini-audit to see how your company is doing in terms of security? Don’t hesitate to contact us, we will be happy to help you!