Cyber insurance: becoming insurable
In today’s digital era, companies are more reliant than ever on the protection of their IT systems. Cyber risks are an ever-growing problem that can cause both financial and reputational damage. Cyber insurance is therefore essential for companies. However, insuring IT systems is becoming increasingly difficult and expensive. In this article, we take a look at the current challenges that companies face when insuring their IT systems against cyber risks and introduce ProSmartec GmbH as your partner for improving your cyber resilience.
IT insurance challenges
Companies are struggling with less available cyber insurance, higher premiums and stricter requirements for security measures.
Resilience to cyber attacks
The development and implementation of effective security strategies helps to make companies more resistant to cyber attacks and enables better insurance conditions.
Increasing cyber resilience
Companies can improve their cyber resilience and IT security through targeted measures and strategies in order to achieve insurability.
Current challenges in the insurance of IT systems:
In recent years, cyber insurance markets have tightened. The frequency and severity of cyber-attacks is steadily increasing, leading to an increased demand for cyber insurance. This leads to a number of problems for companies trying to adequately insure their IT systems:
- Fewer insurers are offering cyber insurance: The growing number of cyber attacks and the resulting costs have led many insurers to reduce or completely discontinue their cyber insurance offerings. Companies are therefore faced with the challenge of finding an insurer that is prepared to insure their IT systems against cyber risks.
- Higher premiums: The increased demand for cyber insurance and the growing risks have caused the premiums for such insurance policies to skyrocket. Companies are therefore having to dig deeper and deeper into their pockets to protect themselves against cyber attacks.
- Stricter requirements for policyholders: Insurers expect companies to take certain security measures to minimise their risk. This can lead to companies having to rethink their IT security strategies and devote additional resources to fulfil insurers’ requirements.
How ProSmartec can help you:
ProSmartec GmbH understands the challenges organisations face when insuring their IT systems against cyber risks. As an experienced partner, we offer you customised advice and support you in implementing measures to increase your cyber resilience.
Our experts analyse your current IT security landscape, identify vulnerabilities and work with you to develop effective strategies to make your company more resistant to cyber attacks. By increasing your cyber resilience, you can not only reduce your risk of cyber attacks, but also strengthen your negotiating position with insurers and potentially achieve more favourable premiums.
Strengthening cyber resilience with ProSmartec
The insurability of IT systems is an increasingly difficult challenge in today’s world. Companies have to deal with fewer available cyber insurance policies, higher premiums and stricter requirements. Increased cyber resilience is essential to overcome these hurdles.
ProSmartec GmbH is your reliable partner to increase your organisation’s security and improve your insurability. We offer personalised advice and work with you to develop effective solutions to make your company more resilient to cyber attacks. By strengthening your cyber resilience, you can not only prevent financial and reputational damage, but also negotiate better insurance conditions.
Don’t hesitate to contact us to find out more about our services and how we can help you improve your cyber resilience. Together, we can ensure that your organisation is protected in the best possible way and that you gain valuable insights that show you that your IT systems are secure and insurable.
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