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Volume 31, Issue 1

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Wednesday, 03 January 2018 14:55

Cybersecurity Insurance: Breaking Down The Benefits

An Effective Risk Management Tool for Your Business

Corporate data breaches are on the rise and many businesses are rethinking their security strategies and plans for risk management. This piece discusses how these repercussions are causing business leaders to implement more holistic approaches to security that include preventative measures in addition to attack response plans that includes cybersecurity insurance.

With corporate data breaches on the rise, many businesses are rethinking their security strategies and plans for risk management. Hacks, breaches and outages are proving to be more than just technical issues. Instead, they’re leading to larger potential fines in countries within the EU, loss of customers and not just potential negative reputation for affected companies, but the potential for actual physical harm caused to employees or customers in certain verticals.

These repercussions are causing business leaders to implement more holistic approaches to security that include preventative measures in addition to attack response plans. Preventative measures serve to better network defenses and implement best security practices. Response plans should include cybersecurity insurance, a coverage plan designed to be implemented when an attack occurs.

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http://www.corporatecomplianceinsights.com/cybersecurity-insurance-breaking-down-the-benefits/