One Cyber Endorsement Does Not Cover All

Posted by Albert Sica on Feb 13, 2013 2:04:17 PM

Cyber Insurance providers’ policies need to be tailored and adapted to the particular risks of the insured. The market can be sculpted to meet the specific risks your particular company faces every day. Cyber risks are becoming more and more apparent, with weekly headlines of major corporations coming under attack.  You can no longer sit on the sidelines and hope you are covered when it comes to cyber liability issues.

It is hard to understand what your current policy may or may not cover when it comes to cyber issues.  If we were to identify your current cyber liability risks, the unprotected areas within your company would be exposed and analyzed. Having an independent advisor conduct a Risk Management Assessment (RMA) of your organization’s insurance and risk mitigation strategies will identify and analyze all operational exposures and provide Senior Leadership with a transparency they need to address potential breaches and gaps in coverage. Identifying and taking steps to prevent risks, including risk of cyber breach, will help your organization lower your Total Cost of Risk (TCoR), which will, in turn, improve your company’s bottom line.

If you would like more information about conducting an RMA to help identify your company’s risks, including cyber risks please feel free to contact Albert Sica at 732-395-4251 or at asica@thealsgroup.com.

Topics: Cyber Risk, Cyber Security, Risk Management Assessment, Risk Management Blog, Strategic Risk Management, TCoR, Total Cost of Risk, Total Cost of Risk (TCoR)

The ALS Group

Risk Management Blog

We manage more than a quarter billion dollars of premiums for a diverse range of clients around the globe. 

Our areas of expertise include:

  • Enterprise Risk Management (ERM)
  • Cyber Security & Cyber Liability Insurance
  • Construction Management
  • Customized Risk Management Assessments (RMAs)

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