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… breach. Cyber insurance complements and supports active security measures by providing third-party regulatory and liability coverage as well as a host of first-party response, remediation and recovery insurance. In addition, most cyber markets also provide free or discounted pre-loss services to assist an organization in breach preparedness. RISK MANAGEMENT TIPS Develop a written incident response plan that includes IT, HR, Accounting Staff, Security and Management Appoint a Computer Information Security Officer Identify, contain and protect any Personally Identifiable Data Continually maintain and upgrade computer systems and software Implement mandatory employee training to better prevent phishing, unauthorized transfer …

… the organization’s balance sheet by transferring some of the costs associated with the inevitable breach. Cyber insurance complements and supports active security measures by providing third-party regulatory and liability coverage as well as a host of first-party response, remediation and recovery insurance. In addition, most cyber markets also provide free or discounted pre-loss services RISK MANAGEMENT TIPS Develop, implement and regularly update and test a holistic incident response plan that includes IT, HR, Accounting Staff, Security and Management Appoint a Computer Information Security Officer Identify, contain and protect any Personal and Corporate Confidential or Sensitive Information.

… products is very narrow in scope. Stand-alone cyber insurance policies offer a broad range of first and third party coverages intended to protect an organization in the event of a ransomware attack. A comprehensive cyber insurance policy is a key element of any cyber risk management program. DOWNLOADABLE RESOURCES Ransomware Client Advisory (PDF) DON’T BE A STATISTIC Companies surveyed by Allianz for its 2020 Risk Barometer ranked cyber incidents as their #1 risk 50% of cybersecurity professionals feel their ransomware security is inadequate¹ Ransomware costs businesses over $75 billion each year¹ Ransomware attacks have increased over 97 …