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Are you certain your organization is getting the best deal when it comes to cyber insurance?

The expense of remediating a cyber breach has become an increasing concern for organizations as hackers take aim at financial data and critical systems. Hence the rise of cybersecurity insurance. But, in today’s world, receiving superior cyber protection can be costly, and if your organization is entrenched in other capital-intensive projects, insurance might be out of the question. So what can you do?

In February of this year, Cisco teamed up with insurance firm Allianz to provide discounted cybersecurity insurance coverage to customers using Cisco Ransomware Defense. As your organization continues to develop its security strategies, it is important to remain layered, or holistic, in your security approach. There is no one solution that can prevent a cyberattack. Purchasing cyber insurance helps add another layer of security to your organization.

At this point, you might be thinking, “What are the odds my company is breached?”, and “How costly could an attack on my organization be?”.

In a recent study, CSO Online discovered that in the U.S. the average cost of a cyberattack grew to $1.3 million for enterprises and $120,000 for small and medium businesses in 2017. By 2021, cybercrime damage cost totals are estimated to top $6 trillion annually.

Cybercrime isn’t going away and will continue to be a top priority for organizations through 2018. This partnership between Cisco and Allianz will allow organizations to more affordably protect themselves from the increasing threat and devastating cost of cyber-attacks.

To learn more about the Cisco Ransomware Defense package, contact us today.