Cyberattacks are rising in Canada, with Canadian businesses and organizations paying, on average, $6.75 million per attack in 2021. The increase in the frequency and severity of cyberattacks has led to a corresponding increase in Langley, BC, businesses directing their attention to more comprehensive cybersecurity strategies. Businesses want to do more than protect their business from cyber threats. But they want to insure themselves against the financial damages that can result from an attack.
Cyber risk insurance is a type of insurance that helps protect businesses from the financial losses resulting from a cyberattack. This type of insurance can help cover the costs of data breaches, cybercrime, and other cyberattacks. With the right cyber risk insurance coverage, businesses in Langley, BC, can have peace of mind knowing that they are protected financially if they ever fall victim to a cyberattack.
Cyber risk insurance can help cover the costs of things like:
Cyber risk insurance coverage can help protect your business from the financial devastation that can result from a cyberattack. Cyber risk insurance policies can vary in terms of the type and coverage they provide, so it is important to choose one that will give you the coverage you need to protect your business.
While some may feel that cyber risk insurance is just another added expense for a business, the truth is that it can save businesses a significant amount of money in the long run. One cyberattack can cost your business hundreds of thousands of dollars, so having insurance coverage can help to offset the cost of an attack and protect your business from financial ruin.
Any business in Langley, BC, that has an online presence is at risk of being attacked by cybercriminals. These criminals are constantly finding new ways to exploit computer system vulnerabilities, becoming more sophisticated in their methods. As a result, it is more important than ever for businesses to have comprehensive cyber risk insurance coverage in place.
New laws and regulations for cyber risk insurance coverage have been implemented in Canada, and businesses need to be aware of these changes to ensure they are adequately covered. Insurers must be convinced that their customers are taking the necessary steps to protect themselves from cyberattacks. These new regulations are in place to help ensure that businesses are doing just that.
From implementing multi-factor authentication(MFA) to conducting security audits, there are many things that businesses must do to be compliant with the new regulations. Failure to comply with these new regulations could result in businesses being denied coverage or higher premiums. As a result, it is important for businesses to be aware of the changes and to take the necessary steps to ensure that they comply.
Some of the new regulations for cyber risk insurance are as follows:
At Coleman Technologies, we can help your business to comply with the new regulations for cyber risk insurance. We offer a wide range of managed IT and security services that will protect your infrastructure and your sensitive data, including:
As businesses become more reliant on technology, the risk of cyberattacks also increases. To protect your business, it’s important to have cyber risk insurance coverage in place. Coleman Technologies understands the importance of cyber risk insurance and can ensure your business meets the requirements set out by your potential insurer.
If you are concerned about the state of your current network infrastructure or data security, we can also provide a comprehensive assessment and make recommendations for improvements. Coleman Technologies has the experience and knowledge to help your business in Langley, BC, secure the best possible cyber risk insurance coverage.
Contact us today to learn more about our services and how we can help you protect your business.