A very warm hello,
In our latest blog post we would like to deal with the most important challenges for companies regarding cyber insurance.
The damage volume of hacker attacks has increased sharply in the last five years. According to a study by the Federal Office for Information Security (BSI), the damage volume in Germany alone amounted to around 100 billion euros in 2020. There has also been an increase worldwide. Companies should therefore make sure that they are sufficiently protected against cyberattacks.
Around 80% of all companies are affected by hacker attacks. Cyber insurance is therefore an important part of a company’s overall IT security strategy.
Three important reasons why companies should take out cyber insurance:
- Protection against financial losses: Cyber insurance can protect companies from financial losses from cyberattacks. This includes, for example, costs for the recovery of data, claims for damages from customers or business partners as well as costs for crisis communication.
- Assistance in recovery: In the event of a cyberattack, cyber insurance can help companies restore their systems and data. This includes, for example, the provision of experts for damage control and the assumption of costs for restoration.
- Compliance with legal requirements: In some industries, companies are legally required to take out cyber insurance. Such insurance can therefore help companies meet legal requirements and avoid penalties.
Together with our partners, we offer concrete solutions, such as the existing use of a Privilege Access Management (PAM) or a Security Information & Event Management Tool (SIEM), which can be a prerequisite for the conclusion of a cyber insurance and/or lead to reductions in the insurance contribution. Please contact us, together we will find the best individual solution for your company.
Congratulations,
Your TWINSOFT
