Since information technology significantly impacts the profitability and even the survival of companies, insuring potential losses due to security breaches is quite normal. Why would you not procure yourself cyber-risk insurance?
Is cyber security protection insurance for you?
Cyber security protection insurance is packaged for businesses whose operations significantly rely on information technology or who must protect the personal information of clients, such as social insurance numbers or financial and medical records. Here are a few examples:
- Website and online retail-sales platform operators;
- Businesses with a website or cloud-based services;
- Pharmaceutical companies;
- Retailers, manufacturers and wholesalers;
- Professional service businesses;
- Businesses holding intellectual property rights;
- Publicly traded companies;
- Businesses storing personal information.
Warning: Holding a cyber security insurance policy does not exempt you from implementing security measures!
In fact, maintaining best cyber security practices helps lower not only insurance premiums, but also the probability of incidents occurring one day. In other words, safeguard your reputation.