Is your Cyber Insurance good enough?
We are the only cyber hub that uses a visionary methodology incorporating global experts and cyber insurance to improve cyber posture.
Demystifying the complexities of Cyber Insurance
Lockdown understands that Insurance and financial redress is a key service in safeguarding against digital risk. All too often, insurance policies can use ambiguous wording, lack true coverage and are unfit to cope with the large costs inherent from recovery from a Cyber breach. That’s why Lockdown Cyber Security have partnered with well-established Insurance Brokers and Underwriters; to provide our clients with an Insurance policy that they understand and can rely on, in their time of need.
Through the Lockdown process, organizations will be offered extended Cyber Security coverage, bespoke to the organization, providing a more robust and commercially focused insurance product.
With increased cyber risk, the need for cyber insurance in the UK will become even more important. Organisations don’t always understand the importance of cyber insurance as a separate stand alone policy to reduce potential financial exposure. This problem is evidenced by the fact that only circa 11% of UK organisations currently have cyber insurance in place.
Reducing our customer’s cyber risk
Lockdown acts as an intermediary helping organisations obtain the right level of cyber insurance cover (which will offer wider protection with higher limits). Although paying the right price is an important factor for any organisation, it’s what is included in the insurance policy that’s more important, rather than any discount.
We want to reduce some of our customers pain in obtaining cyber insurance, making it easier and less of a burden to obtain. Insurance application forms are not always straight forward and organisations find renewals an arduous
exercise. With the CFO, Head of Compliance or CISO who often together complete such forms, but may not always readily know the answers, what to include what not, which could result in the wrong answers being entered and sometimes insurance cover being invalidated.
Further, using our security awareness training, CISO training and executive training we want to reduce the likelihood of an attack or incident, which is both good for the insurer risk and the business. Once an organisation has experienced an attack, it has showed vulnerability and the likelihood is that post-event cyber insurance renewals will be more difficult to obtain and definitely more expensive.
Get in touch
We know this is a complicated topic and we fully expect you to have a bunch of questions that you need answers for.
We’re here to help.