Cyber Risk. Cyber Risk Insurance

Our society has evolved like never before in recent years, and this technological evolution has similarly occurred in our companies, giving rise to Cyber Risks.

Protect Your Business Against Cyber Risks with Peris

Fortunately, the insurance industry has also evolved and is now capable of offering very comprehensive insurance solutions for transmitting these risks and protecting our intangible assets.

It is important to note that these policies operate not only in response to attacks by cybercriminals but also in cases of system failures due to human error or third-party claims for virus transmissions, privacy violations, or fines from the Spanish Data Protection Agency.

Why Do We Need Cyber Risk Insurance?

What Do These Policies Cover?

Cyber risk policies cover failures and attacks on the insured’s systems and privacy and data protection violations (data protection fines, claims for privacy violations, cyber extortion or ransomware, viruses and malicious software, human errors causing system failures, etc.).

  • Response to security breaches or system failures
  • Data restoration
  • Cyber extortion
  • Loss of profits
  • Fraud and cybercrime
  • Administrative and data protection fines
  • Liability for privacy violations
  • Liability for network security
  • Liability for activities on digital media
  • Perform weekly backups.
  • Have antivirus and malware protection.
  • Frequently download updates for programs and operating systems.
  • Implement basic user and password security systems.
  • Increasingly, two-factor authentication is required, at least in remote access processes.

It is very important to rely on brokers who are experts in this type of risk. The market is becoming increasingly stringent. For medium and large companies, it is becoming more complex to obtain and maintain sufficient coverage.

At Peris, we have specialists to advise our clients on these types of protections. It is important to understand that the product does not replace the company’s IT department or provider. On the contrary, their involvement is essential to achieve and maintain coverage suited to the company’s needs.

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