World’s biggest Cyber-Attack a major headache for business owners.
The world’s biggest cyber-attack has business owners scrambling to review their insurance policy.
The WannyCry Ransomare crypto-virus has left businesses across the world unable to use their network or systems due to the attack. Many business owners are now looking to their business insurance policies to help pick up the pieces.
The issue for most business owners is that traditional insurance policies exclude losses arising from computer viruses such as Ransomware. As a result, specialist Cyber Insurance is now becoming a mainstream insurance policy for many businesses.
Cyber Insurance is designed to protect businesses whilst operating in a digital age. In the modern business world, every industry runs their day to day operations off a computer network of some kind. Your payments systems, payroll, customer data and supplier data will almost always be stored on a computer network or in the cloud. This means your business is exposed to cyber criminals around the world.
One of the biggest benefits of Cyber Insurance is the 24/7 Breach Response service which comes with most Cyber Insurance policies. This essential service provides around the clock expertise which you can call upon to immediately respond to any cyber-attack on your business. The moment your business is attacked you will have the very best experts working for you to protect your organisation. This is often seen as the most valuable part of a Cyber Insurance policy.
The coverage benefits of Cyber Insurance includes loss of revenue to your business following a cyber attack and liability coverage for a data breach which exposes a individuals or businesses private records.