Cyber Insurance: New solutions to protect you from hackers
Attacks by hackers pose a significant threat to businesses. Studies estimate the annual financial damage caused by industrial espionage to range in the tens of billions of euros. With its own cyber-police force, Pantaenius offers a solution to protect against network attacks.
The Internet has led to accelerating processes in and a global networking of the business world. The advance of digitalization has not only brought advantages however - the risk of cyber attacks has also increased significantly. This particularly affects mid-sized German companies, whose expertise is sought after worldwide. As competition for products and sales markets intensifies, industrial espionage is increasingly focused on technology-oriented, innovative companies.
With cyber risks, we refer to events such as breaches in the confidentiality of personal data, loss of or damage to data and networks, extortion by hackers, infringement of intellectual property rights or electronic theft, for example in online banking.
While comprehensive protection of corporate IT is often a matter of course, it is generally no longer sufficient. Particularly in the USA, companies are increasingly relying on special insurance solutions to protect themselves from the consequences of hacker attacks. Standard industrial insurance policies provide only partial coverage of the aforementioned risks. Pantaenius can remedy this with Cyber Insurance. It covers self-inflicted damage due to data loss or third-party damage resulting from hacker attacks. This includes, among other things:
- Network repair or renewal
- Decrease in operating revenue
- Loss of money or goods due to electronic theft
- Payments to blackmailers in case of threats to damage the company's system
- Expenses resulting from customer information
- PR expenses to protect against reputation damage
By signing up for a cyber policy, your company not only protects itself against financial damage, but also secures the expertise of experienced security and PR consultants who will perform an individual risk analysis and assist in any matters which may arise.