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What is Cybersecurity Insurance?

Every type of business, from the largest corporations to the family-owned shop down the street, are facing some sort of cyber threat. Preparation is the key to protecting your business – which is exactly why it’s important that no matter the size of your organization, you’re covered with cybersecurity insurance to help decrease your risk of both attacks and their lasting effects.

Let’s talk through some cybersecurity solutions. But first of all, what is cybersecurity insurance?

Cybersecurity insurance is an insurance that covers the costs associated with cyberattacks and protects your business from losses caused by stolen data, damaging systems and infrastructure through malicious software (otherwise known as malware).

The next question is obvious. What does cybersecurity insurance cover?

From things like lost income due to a cyber attack and costs associated with recovering lost data all the way to forensic investigations and regulatory defense expenses, cybersecurity insurance solutions cover all kinds of risk.

If you’re worried about that kind of coverage being pricey, don’t be. There are a few things that businesses can do to lower cybersecurity insurance premiums.

First of all, develop an effective, actionable cybersecurity strategy that can be put in place as soon as possible. Have a strong understanding of what proprietary data is most valuable to your business, how it is used, and how to prevent and respond to attacks targeting it. This serves as the basis of a strong set of security controls that includes policies and technologies that work to meet your organization’s specific list of needs.

And finally, the last question you probably have. How does Access One fit into all of this? It’s simple – working with Access One can help reduce these costs by putting controls in place to make you safer and more efficient.

We can audit and then monitor your cybersecurity on an ongoing basis, so that when it comes time for renewal, we have the information we need to make any necessary changes that ensure your company is protected – not only from attacks, but from unforeseen premium increases.

We are dedicated to not only keeping businesses secure, but keeping costs down.

If you’re interested in an evaluation of your cybersecurity as is, we would love to set up a time for you to meet with our Security Team.