The Dark World of Cyber Risks

The Dark World of Cyber Risks

June 21, 2019 7:07 AM

Many businesses today, are keeping up with the vast changes in technology. As a business owner you want to advance your company and its operations through the use of technology, social media and transactions over the internet. This also plays a key role in how most organizations conduct business and reach out to prospective customers.

However, there is a downside whereas; those vehicles can serve as a gateway to the “dark world of cyber risks”. The sad truth is that your business is at risk of being targeted and taken down by hackers; business interruption, data loss/destruction, computer fraud and/or cyber extortion; dark world indeed, right?

Fret not thyself, Marathon Insurance Brokers can keep your business on stable financial ground should a significant security event occur; what you need is cyber risk insurance! But what is cyber risk insurance? In case you are overwhelmed with curiosity, cyber risk insurance is also referred to as cyber insurance policy or cyber liability insurance coverage. It is designed to help an organization mitigate risk exposure by offsetting costs involved with recovery after a cyber-related security breach or similar event. Many policies include both first-party and third-party coverage. First-party coverage applies to losses sustained by your company directly. Third-party coverage applies to claims against your firm by people who have been injured as a result of your actions or failure to act.

It is important to note that as part of a risk management plan, organizations must decide which risks to avoid, accept, control or transfer. Transferring risk is where Marathon comes into play. We will help you in getting the best cyber insurance policy for your company. It’s a “dark world” so let us help you secure tomorrow, today.

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