The short answer is yes!
At ProAktive we consider that every business, irrespective of its size, should consider Cyber Insurance. As organisations have become more reliant on IT we have seen more & more companies buying cyber cover. On 25th May 2018 this became crucial when the General Data Protection Regulations became effective, meaning that if you hold personal data, you must now comply with this regulation.
The good news is that Cyber Insurance is available to compensate you for the consequences of the loss of data & policies usually include access to a Public Relations firm who can help to quickly provide the right advice on how to respond to customers & the public in order to manage your organisations’s reputation & brand.
It is imperative to the success of your business that you take a joined-up approach to your IT risk management, staff training, data management, & disaster & recovery planning. Traditionally businesses have always insured their physical assets & financial liabilities. In a digital world, can you afford not to insure your virtual risks too?
By Beverley Brown – Broking Director FCII MBA