CYBERSECURITY INSURANCE BLOG
WHAT IS CYBERSECURITY INSURANCE?
Cybersecurity insurance is a way to provide protection from any fraudulent cyber activity. This type of insurance can help mitigate the impact you or your business may experience from cyber-attacks. Cybersecurity insurance can be procured through common insurance providers no different than traditional insurance. Cybersecurity insurance goes hand in hand with a set cybersecurity plan, implementing both can secure a safer approach to being protected.
WHY IS CYBERSECURITY INSURANCE IMPORTANT?
Cybersecurity is like common business insurance. It can help reduce remediation, legal assistance, investigations, and the financial risks associated with cybersecurity. Having a cyber incident data repository allows for a “trusted environment for enterprise risk owners to anonymously share sensitive cyber incident data” according to the Cybersecurity & Infrastructure security agency. The consequences of having no incidence response and recovery plan or up-to-date security measures have resulted in unsalvageable servers and systems, data leaks of sensitive information such as PII and banking accounts, and a halt in overall operations.
WHY YOUR DATA MATTERS?
There is no doubt in the value of the data your company holds. Data allows us to create a more interactive and ease of use environment for people around the globe. As previously mentioned, a business holds a digital goldmine of information that can be used to formulate and execute attacks on individuals and the company itself, but many underestimate the amount of readily available exploits to access that data.
HOW EXECUTIVE OPTION CAN HELP
It is estimated that 85% of business assets are in digital form, so it should come as no surprise that market perception is directly linked to how company security is managed. Executive Option’s Cyber Security Services can help organizations apply appropriate information security measures by providing ongoing confidentiality, integrity, availability, and protection of their most sensitive data assets. We help you understand how best to align your information protection agenda to your dynamic business and compliance priorities. By balancing your security needs and wants, Executive Option builds enterprise-wide security programs and strategies that move organizations from reacting in crisis mode to having a proactive, value-added business solution.