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April 05, 2022

Protect your business against data breaches with Cyber Liability Insurance

Angry customers. Loss of sales. Missed opportunities. These are just a few of the negative impacts your business may suffer after a data breach. 

Data breaches can be catastrophic, causing lingering expenses and logistical issues for years to come. And in today’s chaotic and ever-changing digital world, breaches may be difficult to avoid. To stay prepared and protected, your business needs a safety net: Cyber Liability Insurance. 

Latest cyber security news: Most Recent Data Breaches

What is Cyber Liability Insurance?

Put simply, Cyber Liability Insurance is the collection of policies a business has in place to protect its data should it become compromised by a cyber attack. Like home or auto insurance, Cyber Liability Insurance comes with a wide range of coverage options.

Your business is unique, so your coverage and deductibles need to be tailored to its specific needs. For instance, some policies include data breach coverage, while others offer lost income or extortion coverage. 

More on this: What is Cyber Liability Insurance

Let Attentus lead the way

Choosing the right coverage plans and deductibles can be challenging to navigate. Attentus is here to help you chart a course to IT peace of mind. 

Have you received a questionnaire or qualifier from your insurance provider regarding your policy? Call your vCIO as soon as possible, and they will have our network administrator review the existing policies, configurations and solutions your business has in place. 

Your vCIO will also work with you to shore up any vulnerabilities in your coverage by coordinating a review with a third-party vendor, who can offer detailed advice on your policy, identify missing requirements and guide you through the next steps. 

What do insurance companies require from your IT?

Our team understands the ins and outs of IT insurance. We know that insurance companies now require strict technology baselines before granting businesses coverage. 

Here is a list of requirements we have come across thus far:

  • Enforced Multi-Factor Authentication for Both Email and Remote Access
  • Security Risk Assessment
  • Adequate Backup Disaster and Recovery Plan & Technology
  • Security Awareness & Phishing Training
  • Device Encryption (a.k.a BitLocker or FileVault)
  • Adequate SPAM filter
  • Incident Response Plan
  • Vulnerability Management
  • Managed Detection & Response technology & services.
  • Specific Industry compliance obligations such as (CIS, HIPPA, FINRA, CMMC, NIST, ISO 27001, GDPR)

Data breaches can wreak havoc on your business. Count on Attentus to avoid the headache. Schedule a call with us today.