Cybersecurity Insurance Compliance
Businesses of all sizes in every sector are experiencing increases in sophisticated cyberattacks. Hacking is as old as the internet, but the landscape has changed. Incidents are more sophisticated, especially in ransomware attacks. Unfortunately, the increase in attacks is paralleled by the growth in paying out the demands.
Companies feel hand-tied. They want to stay in business. Unfortunately with their willingness to meet these illegal demands, ransom payments continue to rise. Where amounts were once in the thousands and tens of thousands, it’s not uncommon today to see ransoms paid in the millions and even $10s of millions.
To meet this financial risk, in the costs of the ransom and the fallout through the recovery, businesses have turned to cybersecurity insurance. In response, insurance companies are holding policyholders to increasingly strict digital compliance to offset their risk in offering such policies.
How Preactive IT guarantees compliance eligibility for cybersecurity insurance
- Track and manage file and resource access
- Equip PCs with current antivirus software
- Network secure through firewall and VPN implementation
- Regular data backups to external media or offsite cloud services
- Audit and active management of user access rights and permissions
Preactive IT Solutions is a process-focused company that knows precision and expertise are key to delivering the best managed IT services experience possible. We have developed our IT support process over years of experience. We have delivered top-tier managed IT services to organizations in numerous industries and are ready to bring that experience to you as well. Our focus on process ensures a consistently positive experience for your company and a reliable team to lean on whenever IT issues arise.
If your company feels overwhelmed by the IT problems it faces regularly or the maintenance to your infrastructure is taking too much of your staff’s time, managed IT services from Preactive IT Solutions are probably right for you.
Ransomware elevates the complexities of your business continuity planning but it doesn’t rewrite the plan. Your business was already working to reach or maintain regulatory and compliance requirements. Compliance isn’t new either. Industry recommendations have long existed to offer your business optimum outcomes with incident avoidance or rapid recovery in the case of data loss, disaster, or a cyber attack. You may very well decide on cybersecurity insurance. If you do, let Preactive IT take your business to the required level of compliance so your company can experience the monetary security of a comprehensive cybersecurity policy.
What can a comprehensive (first & third-party damage) cybersecurity policy cover?
- Investigation and documentation of the incident
- Hardware and software repairs
- Lost revenue
- Customer, business partner, and regulatory agency communications
- Credit monitoring services for affected customers
- Claims of negligence or breach of contract
- Privacy lawsuits
Remember, cybersecurity insurance is not a loophole or way to get around the costs and obligations of establishing and maintaining digital security. Cybersecurity insurance is just another facet of your best practices and established digital continuity plan. Committing today to a partnership with Preactive IT is a commitment to your reputation and your business's ability to sidestep disaster or weather the worst. Let’s talk about your next step on this path today.