Due to increased risks associated with ransomware, cyber liability insurance rates are seeing large increases. Make sure your New York business is insured properly against cyber security risks that could cripple your business.
Some risks that your business is facing that may be covered by cyber liability insurance:
- Ransomware - Infecting a network to hold data hostage for ransom
- Third Part Exposure - Malware in a third party vendor leaves you liable
- Patch Management - Frequently vulnerabilities are patched, so you need to stay on top of them
- Cloud Vulnerabilities - From account hijacking to DDoS attacks
- Whaling - Illegitimate business emails disguised as authentic to steal login information
- Mistaking Compliance for Protection - Compliance is the minimum but you should stay ahead of that minimum standard
- Mobile Security Threats - 1 in 5 organizations suffer from malware and malign WiFi
- Bring Your Own Device Policies - Each employee device is a chance for infection
- Internet of Things (IoT) - With networked systems like climate control, you could even be hacked through your air conditioning system
- Outdated Hardware - Some older devices can't handle new patches to cover security flaws
Let us know if you need a quote for you business.
Here is a link to an interesting article: Ransomware Exposure Driving Up Cyber Insurance Costs