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Processing insurance claims : If you have cyber insurance , the insurance company may want to investigate the attack. If you don’t have insurance, getting it is more difficult and expensive as cyberattacks continue increasing. The smoothest way to get through it is by doing an excellent job of preserving your data.
This is where cyber insurance comes in. Let’s break down what cyber insurance is, whether you need it and what requirements you’ll need to meet to get a policy. What Is Cyber Insurance? Cyber insurance is a policy that helps cover the costs related to a cyber incident, such as a data breach or ransomware attack.
Also, cyber insurance premiums have risen dramatically as insurers face increasing claims, further straining budgets. Creating one involves developing and testing a clear incident responseplan for responding to cyber extortion attempts, including communication protocols and steps for recovery.
Before a breach, it’s critical to already have an emergency responseplan, including a team of key players and the tools they need to get you back online fast. . Creating an emergency response team (ERT) is a critical step I recommend organizations take before an event. Information Technology (IT). Other Contacts to Know.
Jason Konzak, SVP, Professional Services at Flexential “Ransomware thieves are swarming the internet – and their success reflects the industry’s continued inability to implement appropriate preventative and recovery measures. In 2023, I urge leaders to make robust data protection a priority for their IT organizations.
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