Cybercrime has become a quotidian word in this tech-savvy world because, in 2020, we have experienced more severe attacks than expected. Covid-19 has hit hard in the market in 2020 and has encouraged us to work digitally. Cybercriminals are taking advantages of this situation and the number of breaches has increased by 273 % in the first quarter of 2020. Now, any business is susceptible to cyber-attack. If you are owning a small or medium-sized enterprise (SME), then there is a 1 in 2 chance that you will meet cybersecurity breach. This is a distressing figure that shows small businesses are more vulnerable to cyber-attacks. To overcome a cyber breach, every company should purchase cyber liability insurance so that they can bounce back.
These days cybercriminals are very active and vigilant leaving millions of customers in danger. Since most of the people are opting for work-from-home option, hence the attackers and unscrupulous people are working around the clock to launch any possible cyber attack including
· Ransomware attacks
· Malware attacks
· Social engineering attacks
· Distributed Denial-of-Service (DDoS) attacks
Are your clients ready for a cyber-attack?
If your clients are uninsured, then they are putting themselves at a stake of cyber-attack. Why do small businesses purchase cyber insurance in Adelaide?
· They are unable to evaluate that they are a potential target
· They don’t recognize the exposure
· They are unable to understand the economic and reputational harm of a cyber attack
· They think cyber insurance is costlier and expensive
· They don’t have adequate knowledge about cyber insurance; hence they think this insurance provides limited coverage.
Cyber insurance policies have penetrated in the market in 90s beginnings. The cyber insurance policies offer comprehensive coverages for both first-party and third-party claims. This coverage plays a crucial role for organizations that have suffered cyber-attacks.
What to do if you have experienced a cyber-attack?
Identify the Source of the Breach
If a cyber-attack is going to happen, you should immediately address and repair the source of the breach. This will prevent further access and damages.
Identify What Information Has Been Accessed
You need to employ an IT forensic team who will investigate and confirm what information has been breached or improperly accessed. This is a costly endeavour.
Report the Incident to the Proper Authorities
You should report all cyber-attacks and data breaches to the proper channel. And should follow the latest rules and regulations.
Notify the Affected Individuals
Notify your customers or clients if any of them had faced private or personal data exposure. You should be transparent and trustworthy enough to regain their trust.
Provide Credit Protection for All Customers/Clients Involved
If customers sensitive and imperative data are exposed, the company which has experienced data breach should provide credit monitoring services to the affected parties.
Rebuild Any Digital Asset Damage
Because of cyber-attack, a company’s website, intranet, network, or data may be compromised. Until these assets are recovered or rebuilt, the companies can’t continue their business operations.
The cost of cyber threat will certainly burn your pocket. But you should be relaxed with cyber insurance policies. The expert cyber agent will guide you on how can you get benefitted from cyber insurance coverage. Without this coverage, a business may not sustain after a cyber-attack.Surewise is a popular insurance company which offers the clients with various insurances including cyber-crime insurance Australia, cybersecurity insurance Australia, and personal cyber insurance Australia. The company is flooded with professional and experienced teams along with account managers who will help you in selecting the right insurance policy for your business. To know more about the company and its services, you must visit the website of the company.