Cyber Insurance Consulting

Danger on Two Fronts…

When it comes to cyber security, you have to deal with danger on two fronts:

1. The attack and the aftermath itself, with the danger scale ranging from “inconvenient” to “catastrophic.” The likelihood that you WILL be attacked in some form or fashion increases every year, so it’s not a matter of “if”; it’s a matter of “when” you are attacked.
2. The recovery and the costs associated with the recovery, which could range from “unbudgeted but manageable” to “we can’t recover; close the business.”

Sobering stat: The US National Cyber Security Alliance found that 60 percent of small companies are unable to sustain their businesses over six months after a cyber attack.

You could be in the 40% that makes it. Having the right cyber insurance policy backed by continuing compliance is a large part of a successful recovery.

“Just say yes” is the wrong answer!

The answers you provide on your cyber insurance application – and your adherence to those answers throughout your coverage term – are CRITICAL to having a claim accepted versus a claim rejected.

We’ve seen too many cases where a well-intentioned insurance rep has coached their business client to “just say yes” to the questions in the cyber insurance application. We get it. It’s easy. But one wrong answer can derail your claim and cause it to be rejected.

If that happens, you get left on the hook for every expense having to do with the attack and your recovery from it. This could run into the tens, if not the hundreds, of thousands of dollars. Are you prepared for those sorts of unbudgeted expenses?

We can help. We’ll review the questions, work with you to prioritize anything missing and implement needed change. Beyond that, we’ll monitor to ensure that you REMAIN compliant to your answers throughout your coverage term, so you’re never caught flat-footed with a “we missed that” when you have to file a claim.