Contact DEFENCY
Do you have any questions, suggestions or simply need technical expertise in the field of cyber? Then don't hesitate to contact DEFENCY! We're happy to help.
Some risks (so-called residual risks) cannot be managed or controlled.
You can chalk it up to "entrepreneurial risk" or find a way to "pass on" these risks.
Over the past seven years, cyber insurance has evolved from “possible” insurance to “crucial” insurance. It protects the TOP risk for companies worldwide, and is becoming evermore relevant. It should not be missing from any insurance portfolio.
Finding the right product that fits your company's needs without interfering with operational processes is a tricky undertaking if you don't have professional support. Here, it's necessary to think "outside of the box" and to break new ground in order to support companies in the best possible way. The theory and practice of digital risks rarely match the often very conservative insurance industry. In addition, the cyber insurance market remains quite inexperienced and inconsistent. Due to the frequency of claims and the threat situation, insurers act extremely dynamically and often not in the interests of the customers.
We can help you with the biggest challenges in this area.
- Is your company over- or under-insured?Choosing the total amount insured is often a major challenge for companies. "As much as possible, and as cheaply as possible" are the specifications of most insurance brokers and insurers. A shortfall in the event of a claim (since risks have not been fully or correctly determined) can range from being simply annoying, to threatening the company's very existence. Through a business impact analysis (BIA) and the determination of residual risks, the insurance sum actually required can be purchased in a more targeted manner. Cover according to the motto of "a lot helps a lot" leads to a higher premium when this money would be better invested in additional IT security measures.
- Examining existing systemsIf you already have a cyber insurance product, it's time to put it through its paces. Hardly any insurance segment is as dynamic as the information security and cyber insurance market. During and after a debilitating cyber crisis, there should be no discussions with insurers about claims payments. This requires a common understanding of the insurance conditions. We can help you with that.
- Support in purchasing your cyber insuranceThe choice of the right cyber insurance shouldn't be a marathon, but often that's the case: exclusions, obligations, exclusions in inclusions as well as legally undefined definitions can quickly make you lose track of the services offered and - above all - the effectiveness in the event of damage. We have been experience since the first developments in cyber insurance and are happy to contribute our knowledge to support your company in finding and adapting insurance coverage.
CYBER INSURANCE EXPERIENCE SINCE 2013
Detailed examination of contract content:
Do the insurance conditions conflict with the policy holder's operational processes?
How does the policy holder ensure that they don't risk their insurance cover in the event of a claim?
Is there critical potential for discussion with the insurer?
Is a smooth settlement by the insurer possible?
Are special clauses or adjustments with the insurer necessary?
Does cyber insurance conflict with other forms of insurance?
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