What Does Cyber Insurance Cover? 3rd party cyber liability overview (part 1 of 3)
Posted: July 27, 2021
When looking to transfer technology risks, your cyber insurance should have 1st party and 3rd party coverages along with other include coverages based on the industry you belong to. Insurance companies are constantly studying and updating the ever-changing cyber coverages based on claims and technology growth. Let’s look at what are the major 3rd party cyber liability coverages look like…. These are CLAIMS MADE LIABILITY COVERAGES:...
Cyber Insurance Cover Ransomware and Cyberattack! Are YOU secured?
Posted: May 19, 2021
We all understand in today’s world that cybersecurity and business liability protection is a mandatory action we take to protect our business from financial ruin. As we move forward in our new normal, small and medium businesses must survive the technology and liability risks. Cyber attacks are the single largest risk to your business today. The odds that your business is the next target in a...
2 Types of Cyber Insurance Policies and What They Cover
Posted: January 27, 2021
Cyber insurance is a part of our business portfolio - we need to understand there are different types of cyber policies offered. Cyber policies can be available as a stand alone policy or as a supplement to a commercial policy. Learn more about the differences between the 2 types of cyber insurance so you can make a sound decision as you purchase the policy...
What to look for in any cyber insurance policy?
Posted: December 2, 2020
What to look for in any cyber insurance policy?You’ll know you have adequate cyber coverage when your cyber policy offers the following coverages: *Data Theft coverage *Data breach notification cost *Forensic Analysis to discover the amount of data stolen or damaged *Notification cost *Fines to pay the regulatory bodies and payment card industry *Crisis management cost *Public Relations/Reputational harm *Defense, settlement, and Court costs and expenses Above are just the bare minimum -...
Ransomware and Cyber Attacks Grow with Enhanced Technology
Posted: November 2, 2020
Ransomware and Cyber Attacks Grow with Enhanced TechnologyJust last week, a New York healthcare system was in jeopardy. Ryuk Ransomware successfully disconnected its IT system within hours of the initial attack! How come this was not detected? A new form of ransom was not identified by the antivirus software providers and security agencies. With protocol in place, the hospital restored the IT operations and rebooted their system - the same day as...