The Expert Podcast

We’ve talked a lot about cyber liability insurance and how to protect yourself as a company from data losses and cyber losses by purchasing a cyber insurance policy. That certainly is the way to go — it covers a lot of different expenses. But there are also other ways to skin a cat. There may be additional coverages that you can get by using a data recovery company. Here’s an example: a company called Rubrik. We’re not associated with them, we’re not affiliated with them, and we’ve never done business with them, but this is like a lot of other tech companies where what they represent and what they offer is if you contract with them for your data warehousing — so your servers, your data, your programs — are all hosted in their data center in the cloud.

They provide security protection, cloud coverage, and if, God forbid, something happens, they have what’s called a warranty. It’s not insurance; it’s a warranty up to a five million dollar ransomware recovery warranty. It talks about what the terms and conditions are. There are probably limitations in certain areas.

But it’s another way to have protection. Presumably, if they’re putting five million of their money on the line for each client, they’re going to do a lot of things that will try to prevent that event from happening in the first place. They may have best practices internally, and they might give you some procedures to use at your facility — practices you can undertake to help protect these ransomware events from happening in the first place. So there are many layers of protection you can have. Obviously, one layer is procedures, but there’s external cost, compensation that comes from various sources. It could be insurance, it could be warranties, it could be different types of organizations that you’re already a member of that have reimbursement for losses.

So take a look at all those. Again, the cost of doing this data warehousing might be more than it’s worth to get to five million. I mean, they cover a lot of big companies — they have a list down here of, you know, Kellogg’s, Verizon, and Mazda as their clients. But presumably, if they’re hosting data for those companies, they probably know what they’re doing and may be able to help you out.