Cyber Insurance - Does your Fraser Valley Business Need It?
Recently, insurance companies in Abbtosford and across the country have been changing their cyber insurance policy to require that insured companies implement multi-factor authentication (MFA) and have an emergency data breach plan.
They are tightening their requirements to make sure less breaches happen, and that swift and efficient procedure takes place right away when they do.
What does this say to us, as customers, employees, business owners and technology users?
A goal of insurance companies is to not have any claims. The requirements on their policies are designed to limit as many disasters as possible. Claims cost them deeply! This means that their recommendations are based in carefully monitored statistics, so that they can ensure that you truly are as protected as possible. Companies that provide cyber insurance specifically, will typically have excellent testing systems to see if your data breach plan and your security systems are working the way they should. Upon an unsuccessful test, they can provide really helpful feedback on how to strengthen security systems.
Try getting a quote from a local insurance company in Chilliwack or Abbotsford so you can understand your risks, test your security systems and ensure your company’s protection.
We love insurance companies, and highly recommend cyber insurance for all our clients. We’d way rather make our money keeping you secure, instead of putting out lethal security fires.