6 Reasons Why Insurance Premiums Have Increased

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Find out what’s impacting your organizations insurance premiums

With the average amount paid following a ransomware attack now averaging $84,000, the cost of cyber insurance is on the rise. The combined impact of the costs of recovering from a data breach, a lack of incident response plan, and several other factors all affect the price you pay for your policy.

What do I need to know?

In summary, you need to know what security best practices your insurance provider requires your business to have in place in order to provide cover, and you need this to be put in place by a specialist cybersecurity company – not your IT departmen

  • Ransomware
  • Response costs
  • Replacement costs
  • Lack of cybersecurity hygiene
  • Lack of incident response plan
  • Business interruption costs

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