With cyber threats on the rise and vulnerable information around every corner, Utah businesses are understanding the importance of staying protected more than ever. According to a recent report, 44.6% of companies estimate their organizations have been compromised within the last 12 months by a successful cyberattack. So, it’s no wonder cyber insurance is becoming a prized possession in businesses eyes.
Cyber insurance is designed to cover businesses from cyber security incidents and data breach costs. But to approach cybersecurity proactively, Utah businesses need to understand the potential risks and losses associated with cyberattacks—insurance can help protect against those risks.
The Best Approach to Multi-Layered Cybersecurity
Working with an MSP (Managed Service Provider) and having insurance is the power duo that helps create a multi-layered cyber security strategy. An MSP can help with proactive cyber threat prevention and vigilance against potential cyber threats. Simply put, they’ll prevent threats from even getting close to your data.
But having insurance in place adds another layer of protection, mitigating the financial losses associated with cyberattacks and data breaches which on average cost’s more than $2.2 million a year.
Plus, most cyber insurance providers won’t partner with businesses that don’t have a cybersecurity plan—partnering with an MSP can help you get the insurance you need.
Secure Cyber Insurance with an MSP Provider—Here’s How
An IT service provider can help you develop an effective cyber security strategy that includes multi-layered measures such as the following:
- Vulnerability Scanning: Identifies areas of weakness within your cyber defenses
- Security Measures: Addresses and mitigates those risks, such as cybersecurity training
- Data Backup Policies: Ensures that your business data is safe and secure
- Cyber Insurance Policy: Protects you financially from cyberattacks and other cyber-related losses
Cyber threat prevention is the most effective way to protect your business from cyber risk. This proactive approach means you don’t fall into the statistics of businesses losing millions of dollars from cyberattacks. An IT service provider is one of the easiest ways you can assess your cybersecurity posture and pick the right insurance policy for your Utah business.
What Is the Cyber Insurance Checklist?
The cyber insurance checklist is extensive and can be difficult to navigate correctly on your own. This checklist ensures cyber brokers that cyberattacks, cyber threats, cyber ransom, and cyber fraud are taken into account when some form of insurance is applied.
An IT service provider can help you check the boxes, allowing cyber brokers to evaluate your cyber posture more accurately and get you the insurance coverage that fits your needs best, ensuring you get the best deal.
Keep Your Business Secure with Simple Systems
At Simple Systems, we understand cybersecurity is an ever-evolving landscape. Our IT professionals are well-versed in cybersecurity best practices, insurance requirements, and cyberattack prevention. We can help you create a cyber security plan and secure insurance coverage that will keep your business secure. When you partner with us, expect us to
- Assess cyber risk with vulnerability scanning
- Implement cyber security measures to mitigate cyber threat exposure
- Develop cyber and data backup policies to protect your data
- Secure insurance coverage that fits your business needs
Simple Systems is here to help you secure cyber insurance for your Utah Business. Contact us today to experience cyber security the Simple Systems way.