There is no reason why your business can’t invest in both, says Richard Frost, head of consulting at Armata Cyber Security.
Protecting the organisation from cyber risk goes beyond the digital walls surrounding it – companies need a multi-pronged approach to ensure resilience and reduce risk, explains Richard Frost , Head of Consulting at Armata Cyber Security . Richard Frost , Head of Consulting at Armata. describes an organisation’s active commitment to securing both its digital perimeter and financial assets as fundamental to reducing risk to company solvency.
In most cases, cyber insurance not only covers the actual claim for restoring or remediating the actual threat, but the legal costs which can be invaluable for companies that deal with highly-confidential data or operate in highly-regulated sectors. If your business can prove it has done everything possible to mitigate risk prior to an attack, then this insurance will have your back.
Another option is the cyber warranty, a product that will pay the business a set amount in the event of an incident and covers the gaps that cyber insurance leaves behind. Often, managed security services companies will offer a cyber warranty alongside their products as a mark of faith in their own solutions. That said, if your company invests in a cyber warranty this doesn’t exclude you from meeting specific requirements around security standards or products.
Richard Frost Cyber Risk Cyber Security Cyber Insurance Cyber Security Insurance Cyber Security Warranty
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