As your MSP provider we can assist you in putting policies in place to meet regulatory, insurance, and privacy training compliance.
Unsure how to evaluate your level of risk for cyber liability insurance and coverage need?
Cyber insurance is a passive measure and depends heavily on the active measures that are in place to protect your organization.
Cyber Liability
Your business’s cybersecurity practices factor into the underwriting of your policy
Here are a few things you need to keep in mind when evaluating cyber insurance for your business.
Meet contractual requirements
This is simple. Your potential customers or partners ask for minimums and you will meet them.
Protect your business
Here you would need to evaluate your risk based on your business model, industry and internal policies.
Your budget
Key elements of Cyber insurance coverage are
- Forensic expenses
- Legal expenses
- Notification expenses
- Regulatory fines and
- Public relations expenses.
Evaluating these to meet your budget are just as important before getting a cyber policy.