The Expert Podcast

Look if you're a business or enterprise and you're looking to get cyber liability insurance , what you may want to do is make sure that your company . Has very good technical What they call cyber hygiene . And why is that ? Well cyber coverage is determined in part by an organization overall cyber hygiene . This comes from the insurance market . And they're talking to agents about how to . Better underwrite side . insurance . The most important thing is making sure your client . If you're an insurance company He has good best practices in place for technology It doesn't have to be anything advanced You don't have to have a full-time it person . But just make sure you're using basic practices Well what are those practices ? They change all the time . If you're looking to get cyber insurance what you probably want to do is contact your insurance agent . Ask them What are the general requirements for the different carriers that they have . Have them give you a checklist . Put those policies in place first before you try to apply for insurance , then when you apply you can show your carrier . That you have a tight ship . And you're . Probably more likely to get not only coverage , but a better premium quote . And better options You may be able to choose from multiple companies . If you don't have good policies in place you might not be able to . an insurance policy . What are the odds it's going to happen while according to the article within the next few years nearly half of companies worldwide will experience cyber attacks . On their software supply chains . Think about it . You have fire insurance on your business Half of companies don't have a fire in their business You probably have . Slip and fall insurance for your retail location Half of companies don't have personal injuries on their premises . Many companies do not have cyber . But half of companies are going to have an attack . So it's very important to get it And the coverage is relatively cheap As long as you have good policies in place procedures in place for your company . Before you start looking for insurance . So find out what the checklist is from your agent And put those . Best practices in place . So you can get a good . Package of coverage from your underwriter .