Cyber Risk Insurance

Whether it arrives in your infrastructure voluntarily or accidentally, malware will prevent your systems from operating, stop machinery and production, etc. It can take a while before it is sorted out by professionals, meanwhile your operations are blocked, which could result in substantial financial losses.

Some viruses are meant to destroy your data. How can you continue your day-to-day operations if you do not have access to your client base, your accounting, or your inventory management software?

The consequences of data theft are even more serious, as you will be held accountable to your clients and your company’s reputation may be damaged.

After blocking access to your files or computer system with ransomware, hackers ask you to pay them money (ransom), often in bitcoins, before giving you back access. In recent years, the sums requested have soared. The ransom may be covered by cyber risk insurance.

How much would you estimate the loss of revenue caused by a complete breakdown of operations in your business for a day?

Production is delayed, customers are not getting their deliveries, wages need to be paid, no sales are being made, and new customers may be more reluctant to trust your business.

Think about it!

An often underestimated consequence of cyber-attacks is the loss of corporate credibility in public opinion.

Cyber risk insurance can cover certain costs related to loss of clients.

Not all companies have a Communications Department trained for crisis management or public relations. Cyber risk insurance covers the costs of crisis management and the preparation of internal and external communication (news release, expert services, etc.)