Attacks on the Internet, Why Taking Out a Cyber Insurance?

Whether you own a company in Spain or work as a professional or skilled worker a cyber insurance will let you avoid most of the bad consequences of a cyber attack, cyber theft, hack or any other type of cyber crime.

Cyber Insurance Plans Protect You From Cyber Crime

Cyber Insurance Plans Protect You From Cyber Crime

Cyber risks are increasingly becoming one of the main worries of companies and professionals worldwide. Malicious attacks and cyber extorsions where cyber criminals demand payments in exchange for your compromised data (ransomware) or to stop DDoS (distributed denial of service) attacks against your company website or servers have become more and more popular these last years. Cyber reputation risks associated to these kinds of attacks can impact your company negatively.

Reasons to Take Out a Cyber Insurance

All companies even the smaller ones are exposed to cyber attacks. These are some of the reasons to have a cyber insurance policy that helps you mitigate risks:

  • Dealing with personal data, electronic devices, computers, networks and the cloud makes companies prone to be in the receiving end of a cyber attack.
  • Local, Spanish or international legislation demands cyber risks to be taken into account by companies wanting to remain competitive. European Union’s GDPR (General Data Protection Regulation) is one of the most relevant examples lately.
  • Risking your business operations or reputation in a single cyber attack can be fatal to your company

Coverages in a Cyber Insurance Policy

Being covered in the event of personal data loss, third-party data alteration or destruction, eventual civil liability or economic loss due to an interruption of the company operations is just one of the benefits of having a cyber insurance.

Some coverages that you cyber insurance policy can include:

  • protection against cyber extortion
  • protection against data loss (personal or third-party)
  • economic retribution in case of an interruption of the company operations
  • legal defense and protection against third-party damage: regulator entities, Internet publications, copyright issues
  • protection against cyber theft
  • on-demand contingency assistance by qualified IT experts

At Cogesa Expats we can help compare and choose the best cyber insurance plan for you and your company. Just contact us with the details or fill the form below and we’ll get in touch promptly.

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