In this video we will uncover a common cybersecurity misconception I hear when I speak to Small Business Owners.
"Number 3 - Darryl - I have Cyberinsurance so if anything happens im protected"
"But you see, that just isn't the truth. The TRUTH IS, having Cybersecurity insurance and actually being able to use it in a worst case scenario are two VERY different things.
You see, in order to qualify for cyber insurance in the first place, you would have completed a detailed questionnaire about the security practices you currently have in place within in your organization.
Now, Unless if your in the business of donating money to your insurance company, you’ll want to ensure that in a worst case scenario you can actually use your cyber insurance.
For this to happen, your insurance company is going to expect that you are infact doing all the things you said you were on doing on your application when you applied for the policy.
Take this real world example. Last year I spoke with a SMB located in Richmond Hill who had cyber insurance, and fell victim to a cyberattack.
Naturally when they tried to use their cyber insurance, the insurance company did their due diligence.
After the forensics team was done, they determined the source of the breach was an end-of-life computer running Windows 7.
Since this company confirmed on their application they were not using end of life software, the claim was denied.
Folks, there is no point having cyber insurance if you cannot use it. Don’t fall victim to this same scenario.
For more cybersecurity tips and best practices, visit our website at mydware.com or contact us today for your complimentary cybersecurity risk assessment.
