Why You Should Develop A Cyber Insurance Coverage Checklist

Your cyber insurance coverage checklist should include all of the data and information that’s most dear to you. If you own a business, you’ll most likely become the target of an attack. In fact, one study found that nearly half of the security technologies used by organizations are considered outdated.

The best way to protect yourself is to start with your own personal checklist.

Cyber Insurance Coverage Checklist

  1. Productivity and Operations
  2. Banking Credentials
  3. Sensitive Data
  4. Proprietary Information
  5. Physical Assets

Let’s take a closer look at each of the items on the list and why it’s in your best interest to protect them from cyber-attacks.

Cyber Insurance Checklist

If you start thinking about some of the most precious assets that come along with your business, then your checklist will start falling into place. Each business owner’s list will vary. No two will be the same.

Here are some general things cybercriminals tend to look for when they attack a business:

  • Productivity and operations—Just one cyber event can wreak havoc and cause significant disruptions.
  • Banking credentials—Financial information like this is an attractive target for cybercriminals.
  • Sensitive data—Things like credit card numbers, names, addresses, social security numbers, emails, and login credentials are common targets for cybercriminals.
  • Proprietary information and trade secrets—  Cybercriminals understand the value of trade secrets and can earn big bucks selling proprietary information on the dark web.
  • Physical assets— Cyberattacks can also cause physical damage. This typically occurs when a hacker gains access to a computer system or app that controls equipment at your business. 

This list, if nothing else, can help you to start putting your personal checklist together. It is a good start.

Cyber Insurance Is A Must For Your Business

It’s not easy protecting your business 24/7. Technology does a lot of great things, but it also comes with risks.

Keeping workplace technology up and running is vital to any organization’s success. While this task seems feasible, it’s growing more difficult each year as cybercriminals expand their reach. It’s no longer enough to protect workplace technology with only software and security protocols.

It’s critical for organizations to educate themselves on and protect against cyber exposures related to ransomware attacks, social engineering schemes, and similar threats.  Yes, whether a large or small business, you could be a target of cybercrime.

Click on the link below for some timely and extremely valuable advice to keep your company safe.   For ideas on insurance protection for your business, call us at 249-478-1177

Get Our Guide

We have a lot more information on cyber insurance coverage and how you can protect your business in our free guide. It’s called “Cyber Risks For Boards Of Directors.” Download your copy today and start taking the necessary steps to protect your business, your assets, and your future.

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