Over the years, the threats of the digital age have been more and more prominent in the media. It should be no surprise that insurance is evolving to try and keep up. Likewise, commercial diving services companies need to take the right steps to protect their data. The risks are many, and since software is constantly evolving, businesses shouldn't leave data security to chance.
As with other forms of insurance, it's easy to think you're safe until it's too late. In reality, however, even small businesses may fall within the radar of attackers or accidentally expose important assets. Because cyber security is a relatively new field, though, the jargon can be confusing, leading some companies to struggle with obtaining the right policy.
Cyber liability insurance can still be a confusing area for many.Here are some systems which may be vulnerable without cyber insurance:
- Cloud Storage: Migrating off of local hardware has been the rage for some time now, but this efficient practice doesn't necessarily protect participants. In fact, it could represent a larger weak spot if users aren't aware of the risks.
- Email Fraud: "Phishing" and other schemes prey on the uninformed. A scam email and a bad click can be all that stands between your company's computers and a massive compromise.
- Lax practices: The security breach that costs you doesn't have to be malicious. An employee who forgets to log out or accidentally leaves data accessible could lead to problems for your company.
In many of these cases, insurers may choose to dispute a claim. The truth is, this area can be confusing, and insureds need to know they are in good hands. Something you think counts as fraud might turn out to not be covered.
Fisk Marine Insurance International, LLC, works with virtually every major cyber liability insurance provider to bring you the products you need. Contact us today to learn more.