Cyber-risk insurance: an advantage for companies

We are living in a digitalized world in which the preservation of data both in private and corporate level have become the focus of cyber attacks. Not only information in computers but also information that is stored in the ‘cloud’ and on mobile devices such as phones or tablets is at stake. This problem affects almost all companies precisely because of the value of these private data they manage and must preserve. Mostly large corporations, unlike SMEs, can allocate more resources for prevention and ensure the security of their client’s sensitive information when it comes to facing cyber threats.

Any company is susceptible to security breaches, leaks and databases theft (addresses, bank details, records, etc.) and even phishing, which is why investing in security is protecting the business. Nowadays, companies deal with most clients online where many interactions involve the management of documents, so it becomes of utmost importance to have security assurance for both parties. Therefore, it is essential to periodically update the digital security systems of companies given the rapid evolution of technology.

It is highly recommended to adopt all possible prevention measures, mainly to have a secure computer system that protects the information that is managed from the company's network (password control, access to fraudulent websites, management of access to confidential data, etc.) Aware of potential cyber threats, cyber risk insurance continues to grow in insurance brokerages firms in order to cover the damage in case of loss, data theft or breach, phishing, recovering compromised data or damaged computer systems. In this way, protecting data compromised information if there is a cyber attack, the compensation is established in the contracted cyber risk policy. This type of insurance also offers companies continuous monitoring of the state of the security level, ensuring their peace of mind.

If want to know more about the possibilities of cyber risk insurance for your company, our specialized agents at FORCADELL SFT insurance brokerage will offer you the most beneficial options according to your needs.


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Cristina San José

Cristina San José