Cyber Security and Remote work: How to ensure your coverage is adequate in the face of the “New Normal”

cyber risk insurance

cybersecurity and remote work

During the last few months, the World Health Organization reported a 500% increase in cyberattacks compared to years prior. Most businesses have transitioned into remote working situations to limit to risk of COVID-19 exposure. However, this “new normal” is likely opening you up to other risks– cybersecurity risks. Here is our guide on how to ensure your coverage is adequate in the face of the “New Normal.”

Today, it is almost certain that your company will face some kind of cyber risk. Cyberattacks are becoming increasingly common due to the adoption of technology-based data systems becoming commonplace.

Because the transition to remote work was so sudden, employers weren’t able to consider the potential risks that go along with employees working out of the office. Remember how easy it was for people to hack into Zoom meetings earlier in the lockdown? An experienced hacker acts as one of your biggest threats today.  Can you be sure your cybersecurity is able to withstand a cyberattack?

At IOA, we understand how important your business’ cybersecurity is to your wellbeing. This is why we offer top-of-the-line cyber insurance to help cover the cost of a data security breach, as well as provide support and protection from various laws and regulations.

What exactly does cyber insurance include?

At IOA, we offer multiple options when it comes to cyber liability coverage. Typically under one of our plans, you receive coverage for identity protection solutions, forensic investigations, legal fees and fines, and public relations costs.

Cyber liability coverage allows a company to cover the cost of a data security breach so they can take quick action and get their business back to running like normal. It also provides professional assistance to help your business comply with applicable laws and regulations. 

Your coverage depends on your level of risk. Contact Roger today to see what the best solution might be for your business!

What is not covered under your typical cyber liability policy?

The loss of property, such as a cell phone or computer, is not typically included in cyber liability coverage, but can be covered under other policies. In addition, cyber liability coverage does not provide coverage for fraud, robbery, employee theft, and other crimes. Lastly, cyber insurance typically does not cover social engineering issues, which involve criminals tricking employees into transferring company funds.

Do you need help understanding if cyber liability insurance is the right move for you? Contact Roger today to learn more!