The cyber threat to US businesses is significant and continuously evolving, and any business can be a prime target for attack from global cyber criminals. With the drastic increase in ransomware and other cyber attacks, cyber risks have become a top-of-mind issue.
Any business that relies upon computer systems to generate or store business-critical information can have a very real exposure to cyber risks; they can no longer rely on traditional insurance coverage in this space and must take a high-level, holistic approach to how they develop their operations to promote a cyber-resilient culture.
Many organizations assume that their exposure to risk is limited, and ask themselves “why would someone hack me?”, if your business tends to assume this position, ask yourself the following questions:
Answering ‘yes’ to any or all of these questions means a cyber-insurance policy should be in place.
The key risk is not only the lost business and the costs incurred to remedy the breach, but the loss of customer confidence and lasting reputational harm. Good cyber coverage does not just stop with incidents involving electronic or online interference – it should also protect your communications more broadly to include areas like private data and communications, in all the formats you use, electronic or otherwise.
With RPS, Insurance Concepts wants to provide you with the right coverage for your cyber needs, including key benefits: