Cyber Risk Management and Cyber Insurance Solutions
By the time you finish reading this paragraph, a significant number of cyber attacks will have been successful somewhere across the globe. With cybercrime on the rise, many companies are dealing with cyber attack issues. Now is the time to protect your business.
Ashley Page Insurance Brokers Ltd. is a leading cyber insurance brokers that helps clients avoid, cope with, and recover from cyber risks. Based in London and New York, we deliver cyber insurance for large and small businesses and organisations worldwide.
Cyber Relevance
Why Cyber Insurance Is Important for Your Business?
No matter what industry you work in, your business relies on IT infrastructure to collect data, communicate with customers, perform transactions, and much more. Cybercriminals can and will target your systems with devastating consequences to your business.
Without a proper cybersecurity plan, a cyber attack can lead to:
Loss of Profit
Safeguarding Your Business
Loss of Data
Loss of your data and your customers data
Ransome demands
Managing Ransom Demands
Reputational damage
Avoiding Cybersecurity-Related Reputational Losses
Loss of clients
Safeguarding Client Data for Retention and Loyalty
Heavy fines and penalties
Minimizing Legal Risks Through Cyber Protection
All this means that businesses need a double protection strategy:
- Efficient cybersecurity measures such as appropriate software, firewalls, passwords, and security protocols.
- Comprehensive cyber insurance that provides a safety net when the worst happens.
The Number One
Cyber Security Breach
When people say “cyber security”, they typically think of viruses, malware, and hackers. However, for small business owners, data breaches mostly boil down to one factor: human error. Examples of employee practices that may compromise data include:
Unauthorized access to company devices
Weak passwords
Engaging with fraudulent emails
Opening an attachment from an untrustworthy source
To mitigate these risks, business owners should train employees to recognize, avoid, and respond to cyber risks. Ashley Page partners with Risk Factory, a top cyber risk management service, to help companies build effective cyber safety policies.
Why Is Cyber
Insurance So Critical?
Did you know that a cyber attack occurs every 20 seconds? As technology evolves at a rapid pace and online hacking grows more sophisticated, established security systems can struggle to keep up with the pace. Cyber insurance provides a safety net against losses incurred from newly emerging threats and surprise hacks, keeping your company safe from devastation.
Again taking into account the capacity for human error, unintentional data leaks can also spell danger for the reputation of a business. Cyber insurance can be made comprehensive enough to guard against both criminal activity and common mistakes made by employees.
No matter how much security is implemented, if a “Hacker” wants to gain access to a businesess network, they will find a way and this can cause devastating implications to a business and is incredibly costly. Cyber insurance is affordable, easy to take out, and gives you the peace of mind to focus on your company.
Tips!
How Business Owners Can Help to Prevent Cyber Attacks
While no cyber safety system is completely foolproof, business owners can protect themselves from cyber attacks and data breaches using proven methods like routine risk assessments, data protection, staff education, and advanced cybersecurity services.
Furthermore, when protections fail, broad cyber insurance coverage can help your business avoid a major crisis.
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