{"id":5732,"date":"2016-11-11T17:00:37","date_gmt":"2016-11-11T22:00:37","guid":{"rendered":"https:\/\/www.psafe.com\/en\/blog\/?p=5732"},"modified":"2016-11-22T08:38:33","modified_gmt":"2016-11-22T13:38:33","slug":"everything-need-know-cybersecurity-insurance","status":"publish","type":"post","link":"https:\/\/www.psafe.com\/en\/blog\/everything-need-know-cybersecurity-insurance\/","title":{"rendered":"Everything You Need to Know About Cybersecurity Insurance"},"content":{"rendered":"

It seems like every week we learn about a new cyberattack. Cyberattacks can be massive \u2014 as seen in the case of Yahoo\u2019s stolen account information \u2014 and damaging to a company\u2019s value, future business, and reputation. Also in the case of Yahoo, it could be years before a company can confirm that a security breach happened. Cybersecurity insurance can then help to repair the damage from a massive security breach.<\/p>\n

What Does Cybersecurity Insurance Offer?<\/strong><\/h3>\n

Obtaining cybersecurity insurance is a crucial step to take for a business. It will help to reduce most losses from cyberattacks, such as network damage and data breaches, among other issues. The insurance will cover many necessary steps needed after a cyberattack, such as taking measures to secure a company from further damage, in addition to informing any clients, paying fines, and investigating the security breach. Cybersecurity insurance also works to prevent cyberattacks and data breaches by having companies adopt safe practices. In exchange for these preventative measures, a company might receive a reduced rate or more coverage. In addition, companies like Cisco, that offer data encryption through VPN services, often come with cybersecurity insurance for their clients (which could be a major hospital, for example).<\/p>\n

Read More: How Do the Presidential Candidates View Cybersecurity?<\/a><\/p>\n

What Cybersecurity Insurance Doesn\u2019t Offer<\/strong><\/h3>\n

Cybersecurity insurance usually doesn\u2019t cover damage to a company\u2019s reputation. Hopefully the company will take the necessary measures for rebuilding their reputation, such as immediately informing clients of the security breach and ensuring clients that their company will actively work to prevent future attacks. In addition, cybersecurity insurance won\u2019t make up for lost business from the security breach.<\/p>\n

Coverage can also be limited due to the indefinite nature of a cyberattack. It can be difficult to quantify a company\u2019s chance of being victim to a cyberattack or the value of their data. It doesn\u2019t help, either, that technology is ever changing and that safe cybersecurity practices need to compete with this rapid development. An inability to adopt the latest safe practices within a certain time frame could come across as negligence.<\/p>\n

Protect Your Device with PSafe<\/strong><\/h3>\n

While companies focus on safer cybersecurity habits, so should those companies\u2019 clients \u2014 and beyond. It\u2019s important for all of us to stay up to date on the latest cyber threats and best practices for preventing a cyberattack. One way that you can increase your cyber-awareness is by utilizing antivirus software. Download PSafe Total<\/a> for your Android and PSafe Total Windows<\/a> for your computer to protect your devices against security threats 24\/7.<\/p>\n","protected":false},"excerpt":{"rendered":"

With an increase in cyber threats comes the need for cybersecurity insurance. Learn how cybersecurity insurance can protect your business\u2019 data.<\/p>\n","protected":false},"author":83,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[306,3709,3703,3706,2733],"class_list":["post-5732","post","type-post","status-publish","format-standard","hentry","category-security","tag-app4","tag-cyberattack","tag-cybersecurity-insurance","tag-vpn-services","tag-yahoo"],"yoast_head":"\nEverything You Need to Know About Cybersecurity Insurance<\/title>\n<meta name=\"description\" content=\"With an increase in cyber threats comes the need for cybersecurity insurance. 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