##Why is cyber insurance essential?
These days, companies, associations and local authorities are increasingly vulnerable to cyber risks as a result of the digitalization of their processes. Having cyber insurance means protecting yourself against cyber attacks. Computer viruses, data theft, scams... Insurance will enable you to minimize the damage caused by an attack.
###Who can benefit from cyber insurance?
It's important to note that all businesses in all sectors can fall victim to cyber attacks. Small and medium-sized enterprises (SMEs) are particularly targeted by hackers due to their lack of budget to protect themselves, and are often considered easy targets. As soon as a company has data and an online network, it can decide to protect itself.
###But is it really necessary to have one?
Cyber risks are among the top risks for any company. Insurance provides support during and after an attack. What's more, if business is interrupted for any length of time, the insurance will pay out compensation. The costs associated with a cyber attack can be considerable. Without insurance, the serious financial consequences could jeopardize your company's survival. These costs include not only data restoration/recovery and ransom payments, but also legal assistance and reputation protection (e.g., in the event of liability claims).
###There are 2 types of threat: technical and human.
These vulnerabilities represent an entry point for attacks.
Technical vulnerabilities must be mastered by increasing security of access, software and hardware. A company's human vulnerabilities can be improved by offering its employees cybersecurity awareness training (e.g. phishing tests).
In addition to our cyber risk analysis and assessment tools, Dattak offers its policyholders a free prevention and training tool against phishing attempts. In short, cyber insurance offers financial protection against cybersecurity risks for businesses. This enables companies to concentrate on their core business, without having to worry about the costs associated with a cyber attack. It is therefore essential for businesses to take out cyber insurance to protect themselves against technology-related risks. It's also important to note that companies need to take steps to protect themselves against cyber-attacks, both technical and human.
At Dattak, we've created the most comprehensive insurance product to protect French VSEs and SMEs. We've turned lengthy questionnaires into a simple process: 2 minutes to generate a quote without a technical questionnaire. Thanks to our risk monitoring platform, we send alerts when a vulnerability is detected, to warn companies and support them in the event of an attack. Cyber risk is the number 1 risk for any company, whatever its size.