Arguably, there is no greater risk to a firm than a crippling cyberattack that can have long-lasting impacts on business operations and damage its reputation. In an article published on 4/27, Heather Oden, our firm’s COO, provides insight on what firms should consider in light of the high risk of cyberattacks in today’s world.
“Unfortunately, this is the world we live in, and firms will experience an increased pressure to gather all the information, uncover the root of the issue, and respond in a meaningful way without elevating the crisis,” says Heather. “We must be proactive as cyberattacks continue to cause widespread disruptions in business.”
Cyber insurance has become one avenue firms can use to transfer some risk. While it won’t prevent a cyberattack, it provides a mechanism for firms to recover the costs of responding to such an attack.
“Cyber breaches continue to happen at an alarming rate, and we must be prepared,” says Heather. “While we can’t expect cyber insurance to fix all our issues, it does help provide an offset of the costs to respond if you are a victim of an attack; this is another tool to help us protect our firms.”
To read the story in full, click here.