Thank you for completing your CyberRisk Health Check 2024
Why have we put this Health Check together?
Our CyberRisk Health Check provides clients with a moment to reflect on their IT Security strategies, and to understand where they might have gaps in their IT security.
There are many reasons why an IT Security strategy could fail, after all, it only takes one single point of failure in your systems, processes and within your employees for a cyber-criminal to exploit a vulnerability.
For example, a significant factor in cyber events is often human error or behaviour (whether negligent or malicious acts). Many organisations are identifying the root causes of these employee behaviours and aspects of workplace culture that may be contributing to information security risk.
Get Ahead of Your Digital Risks
IT Security should be considered one part of your IT risk management strategy, the other part of Cyber Insurance.
What is Cyber Insurance?
Cyber attacks continue evolving as technology does. Cyber Criminals are blessed with a whole industry of suppliers and hackers who are constantly looking for vulnerabilities in IT security.
Knowing your risks and their potential impact is more important than ever. A data breach, incorrect payment or cyber attack can have an irreversible impact on your business and brand – it’s imperative your IT Security Strategy consists of two important elements:
- cybersecurity risk management
- cyber insurance
Cyber Insurance is a safety net that can provide breach/investigation response services, notification costs and financial compensation for insurable losses.
For example, it can cover the cost of getting your systems back online, compensation claims you may face, fines from regulatory bodies, compensation if you have been a victim of a cyber crime, plus lost income*1.
Some policies also come with risk management services and tools for you to use before a cyber event happens.
There are a myriad of cyber insurance policies in the insurance market. When we work with our clients, we look to understand their concerns, where they have gaps in IT Security appear and what cover they are looking for.
Our Brokers can then work with our insurer partners to provide the appropriate Cyber Insurance policy the fulfils the requirements of our clients.
