Cyber Risk Insurance
Our Cyber Risk Insurance Partners
Understanding your cybersecurity posture can reduce your financial risk
Given the prevalence and seriousness of cybercrime, it is no longer possible to view protection as an issue for the IT department — it’s a problem for the boardroom. Executives and board members must take responsibility for cybersecurity oversight, or face repercussions such as job loss, or even personal lawsuits if a breach occurs.
Cyber insurance provides another layer of protection to reduce the financial risks of such incidents.
While you may worry about the cybersecurity risks partners and vendors pose to your organization, your customers are worried about the risk you could introduce to them. When you can easily demonstrate your good practice and benchmark your cybersecurity posture with those of your competitors, you have an advantage.
Cyber-readiness is increasingly a necessity for organizations, but for insurance underwriters, evaluating an organization’s cybersecurity risk and setting the appropriate insurance premium continues to be an inexact science. Proactively understanding and addressing your organization’s security posture means you can demonstrate risk mitigation strategies that protect your organization’s digital assets.
Presenting insurers with a reliable assessment of your risk for the coming year will help you work with them to reach fair premiums, tailored to your risk. Over time, as you continue to manage data security issues, you can measure and mitigate them and provide your insurers with the proof points they need to adjust your premiums.
brokers and underwriters
UpTime365 partners with insurance brokers and underwriters to provide measurable scaling points in your cyber risk posture, helping them to determine the appropriate coverage and premium for you.