Why Insurance? Because 100% protection does not exist!!
We are the worlds most advanced and innovative cyber insurance development company. Providing through our insurance underwriting partners policies that are connected to new technology, driven by cyber insurance solutions, services and cyber insurance policies never seen before - for customers and insurers alike.
Why is Cyber Insurance a critical element against Cyber attack, and why should it be integrated into cyber protection strategies?
This new advanced cyber insurance policy provided through our underwriting partners, Agile Underwriting is called
Secured Cyber Insurance
Because every company, small or large, faces the same challenges, see below:-
- IT protection alone does not exist as a 100% safety barrier!!
- Global Criminal Syndicates funded by billions of dollars have the ability to create attack technology ahead of everyone.
- IT security devices and software cannot and will not guarantee you and don’t guarantee you they can stop every attack.
- Because IT security now only represents 40% of the anti-cyber threat solution.n
- “People through ignorance or nefarious agendas are becoming a critical threat. (Click for solution Cyber education)
- Staff working from home have increased the security attacks 10 fold.
- Failure to implement Cyber Safety “Policies and Procedures” – means no governance = “No control”
- Every single company WILL be breached !!!
- Tools are needed to manage and “SEE” and “REPORT” the current status of a company’s “current” cyber status – at “At ALL times” by management however small or big you are.
- Companies must know immediately if someone internally is ignorantly or purposefully using a device in an unsafe way or criminal way “immediately” & need reported immediately to prevent and halted it immediately.
- Finally - the financial cost of an attack is high. Its not just the cost of repair – its also loss of customers and revenue, loss of partners and members and associates, the damage to your name, the legal costs that come from attack including regulatory fines, penalties and now “FINES” on both companies and Directors under new laws. ONLY HIGH QUALITY INTEGRATED CYBER INSURANCE DOES THIS – that helps you and the insurer achieve this. This is what cis has now developed – the data, means and tools to manage, view and report it all and that keeps insurance cost down and reduces risk to company’s and insurers together. You need the best “secured integrated cyber insurance at affordable pricing” Your insurance provider should be your partner in keeping you safe – not flogging you any old solution to make a commission. That is what CIS has developed with its CIS partners and now provides across Australia. Available from CIS through its underwriting partners and our licensed reseller partners. To apply to be a Licensed Insurance Partner, Reseller or Partner Broker click this box. To view all the available CIS Cyber Insurance categories click the button below:-
What about my DATA?Your data is now categorised as your most valuable asset – without it you are nothing. Companies are continually losing data wherever it’s been created for you and due to advanced criminal power, human error, employee mischief, and now ransomware attack – you need insurance and both you and your insurer need the tools to “Partner” in keeping it safe.”
Protecting DATA is the core of CIS
of business are not prepared to respond to a breach event
of businesses have cyber insurance, that means up to 85% are exposed to great risk
Data Insurance is coming to Australia
CIS Patented Permanent data loss insured for the “actual value of your data” Insurance is now being prepared for the Australian market and will be added to all our insurance policies.
For the past three years, companies have increasingly come to realise that data is their most valuable asset. BUT:- the insurance industry has not been able to provide a solution. CIS has developed the ability to insure data for its actual value and is working with insurance partners including by the World’s largest Re Insurer Munich Re. Any reference to ‘data insurance’ in any policy currently only refers to a tiny value allowed and in 99% of cases refers to the cost of trying to forensically rebuild the data. But when its gone – its gone. To solve this global issue, Cyber Indemnity Solutions Ltd. has combined IT and underwriting expertise to create a revolutionary ‘Data Insurance Policy’. The risk of permanently losing your critical data is a very serious growing threat to any business and can now severely impact the discharge of a board directors responsibilities. ‘Data Insurance’ will be the world’s first insurance policy to adequately address permanent data loss at its true value. It’s taken many years to develop - in a market with significant barriers to entry. Data Insurance delivers value to all clients - insurers, brokers and insureds. Join other companies in preparing for Data Insurance by contacting CIS now. Our data insurance approach considers the following:
Secured Cyber Insurance by CIS
There is no 100% defence against cyber-attack
It is clear there is no 100% defence against cyber-attack. All businesses should have a cyber mitigation strategy and a bespoke cyber insurance policy is the best option as it offsets the high costs of providing incident response services and associated costs relating to a cyber breach event. Businesses generally underspend in the cyber defence area because they do not understand or estimate the monetary or reputation cost associated with a data breach until it is too late (Fowler, 2018). The global average for the cost of a data breach is $3.62 million dollars and $141 dollars per record breached (IBM and Poneman Institute 2018). From a cost point alone including cyber insurance may well be the difference between surviving a breach and business failure. Cyber insurance is an effective mitigation strategy to be used with other elements in building a ‘defence-in-depth’ solution.