1
Determine what cyber risks your business may face, such as data breaches or ransomware attacks.
2
Assess the effectiveness of your current security measures and identify any gaps that may need to be addressed.
3
Determine the amount of coverage needed based on the potential financial losses from a cyber incident.
4
Review different policies and choose one that meets your coverage needs and budget.
5
Know what is not covered by the policy, such as certain types of attacks or damages.
6
Know the maximum amount that the policy will pay out for a claim and ensure it is sufficient.
7
Decide on the amount you are willing to pay out of pocket for a claim before insurance coverage kicks in.
8
Ensure that your incident response plan aligns with your cyber insurance policy and covers all potential scenarios.
9
Know the steps to take in the event of a cyber incident and how to file a claim.
10
Regularly review your cyber insurance policy to ensure it remains up to date and meets your coverage needs.