We all hear of data breaches and of websites being hacked causing havoc to businesses and consumers alike. One thing is certain, these reports will not go away as hackers continue to outwit the IT experts and sensitive information falls into the wrong hands either through Cyber Crime or by accidental loss.
A Cyber insurance policy can provide the following protection for financial losses arising from data security breaches –
Conduit - Damage to a third party computer system caused by hacker / attacks on or access to your own computer system
Content - Intellectual cyber property infringements
Disclosure - Unauthorised release of personal records
Impaired Access - Where customer is impaired from using your computer system due to hackers/attack
Reputation - Privacy breaches, defamation when disseminating information
Crisis Management - Managing the impact and costs of an insured event from third parties
E-Business Interruption - Loss of business income and recovery expenses following a cyber-attack on your own system
E-Threat - Ransom payments met in response to a range of threats relating to your own computer system or data
E-Vandalism - Reproducing damaged computer data
Privacy Notification - The costs incurred notifying your customers / persons who have had their data hacked or wrongfully accessed – even when not required by law
Reward - To help induce an arrest and conviction following a cyber-attack
Cyber security is the elephant in the room – nobody talks about it, nobody really knows how to do it, everyone else thinks nobody else is doing it, so nobody does anything about it, and no-one knows who is responsible for it anyway.
NWBIB have partnered with Cyber AMI who have developed an Assessment learning based platform to understand the risks to their business and implement safe businesses practices to reduce their exposure to Cyber Risks.
|Key benefits||Assists with||Key essentials|
|Provides a logical, easy to approach, starting point to help identify and mitigate risk||Staff education and awareness||Cyber AMI is an accredited Cyber Essentials Training Partner of QG Management Standards. This recognises Cyber AMI as able to train your organisation to obtain the UK Government backed Cyber Essentials certificate without the expense of a consultant.|
|Saves up to £985*
on acquiring Cyber Essentials over using a consultant
|Builds an audit trail providing boards with clear understanding of their risk exposure||Reputation management|
|HR policy and implementation|
*Based on a leading global provider as at November 2015
1) To start your free Cyber AMI one month trial, click the button below. Subsequent months will incur a flat charge of £25 plus vat per month
2) To find out more about Cyber Insurance and CyberRisks Exposure CLICK HERE.