I bet your organization already carries insurance against a variety of risks.
General liability
Directors and officers
Property
Event liability
Maybe lots of other things.
I mean, if there’s a catastrophic incident at your office or an event, the recovery costs could actually put you out of business.
So you carry insurance.
Have you considered how a cyber crime incident could impact you?
Recovery
Liability
Downtime and revenue loss
Reputation damage
Maybe lots of other things.
Have you considered getting insurance against those risks?
I mean, a significant incident could really hurt.
Here's something to think about:
Even for a small organization, there's little value in assuming that cyber insurance is beyond your means.
There's a good chance there’s a coverage level that's actually right for you.
Here's the thing:
Most organizations are already meeting with their insurance broker at least annually to review coverage.
Next time you meet with yours, ask them about cyber insurance:
Are you already covered, and if so, to what extent?
Is there an affordable rider or endearment they could add to existing policies?
Can they put together a quote for an organization of your situation and size?
Asking doesn't mean deciding.
But it does give you the information you'll need to start making an informed decision.
And that's a lot better than postponing until an uninsured incident threatens your ability to continue at all.
All the best,
A.