Cyber liability Insurance

Are you a business looking to meet the new cyber liability requirements set by insurance companies? Look no further! Our team of experienced IT professionals can help your business become compliant and secure. 

Cyber-attacks and data breaches can have serious consequences for businesses, including financial losses and damage to reputation. That’s why insurance companies are now requiring businesses to meet certain cyber liability standards in order to qualify for coverage. 

At Hammett Technologies, we understand the importance of meeting these requirements and are dedicated to helping businesses navigate the complex world of cyber security. Our team of experts can work with you to assess your current security posture, identify any weaknesses, and implement the necessary measures to meet the new compliance standards. 

Some of the services we offer include: 

    • Security assessments and risk assessments 
    • Cybersecurity training for employees 
    • Implementation of security best practices 
    • Deployment of security technologies such as firewalls, antivirus software, and intrusion detection systems 
    • Incident response planning 

Hammett Technologies believes your technology should always improve the way you do business. That’s why we offer SimpuCare – IT leadership to help you see the bright side of your IT. Interested in learning more?

There are a number of important changes that have been implemented in the insurance industry in recent years with regard to cyber liability insurance. Some of the key changes include: 

    1. Increased focus on cyber risk: Insurance companies have become more focused on the risks posed by cyber attacks and data breaches, and have implemented new underwriting guidelines and requirements in response. 
    2. Higher coverage limits: In the past, coverage limits for cyber liability insurance were relatively low compared to other types of insurance. However, as the risks and costs associated with cyber attacks have increased, insurance companies have begun to offer higher coverage limits. 
    3. More comprehensive coverage: Cyber liability insurance policies have become more comprehensive in recent years, offering coverage for a wider range of risks and perils. This includes coverage for business interruption, loss of income, and the cost of responding to a cyber attack. 
    4. Changes to exclusions and endorsements: Insurance companies have made changes to the exclusions and endorsements in their cyber liability insurance policies to better reflect the evolving nature of cyber risks. This includes exclusions for certain types of data, such as personal health information, and endorsements to cover emerging risks such as ransomware attacks. 
    5. Greater focus on risk management: Insurance companies are increasingly focusing on risk management and are requiring businesses to demonstrate that they have implemented appropriate safeguards to protect against cyber attacks. This may include the use of security technologies, employee training, and incident response planning. 

Don’t let the fear of not meeting compliance standards hold your business back. Contact us today to learn more about how we can help you become compliant and secure. Your business and your customers will thank you.