The recent increase in remote working and online engagement has brought new cyber business risks to the fore, with various attacks from ransomware to malicious websites, scams, and attacks targeting commonly used platforms highlighted in the news.
Barker Commercial Cyber Insurance, underwritten by iTOO, provides our business clients with access to expert knowledge and resources to effectively manage and recover from potential malicious cyber-attack incidents.
This cyber insurance offering ensures you and your business are covered in this constantly evolving, and tech-reliant world. As part of our offering, we are able to provide the following cyber security services to our clients:
- Conduct an online cyber session with key clients, which may include clients who already have other lines placed with iTOO.
- Conduct one-on-one sessions with clients to discuss the merits and facts around cyber insurance, as it pertains to their unique business.
- Perform cyber risk assessments.
- Staff training on cyber insurance, including general cyber risk awareness.
- Assist with other initiatives you believe would be of value.
iTOO’s policy extends to cover numerous incidents including, but not limited to:
- cyber extortion and malware (viruses, ransomware, or publishing of stolen data),
- denial of service (disruption to operations),
- downstream attack (a compromise of your environment, resulting in damages to others),
- hacking,
- insider and privilege misuse (unauthorised access and use of systems and data by employees and service providers),
- physical theft and loss (both devices and physical hard copy data),
- threats posed by third party access into a client environment.
In addition, iTOO’s cyber insurance offering includes a defined incident response process, incorporating an extensive scope of experienced specialists with a local presence, as well as global expertise, spanning the following areas:
- IT response costs to understand, mitigate and recover from the incident.
- Crisis communications and public relations costs, to reduce potential reputational damage and customer churn.
- Notification and remediation services, to prevent affected parties from suffering further damages.
Essentially, cyber insurance transfers some of the risks of a possible security breach to your insurance provider. It can assist with the timely remediation of cyber incidents and may be the provision your business requires to weather these precarious times.