Are you ready for your company’s cyber doomsday?
Are you ready for your company’s cyber doomsday?
Last week, an insurance industry executive testifying before the Senate Committee on Commerce, Science & Transportation at a hearing on “Protecting Personal Consumer Information from Cyber Attacks and Data Breaches,” reported that clients purchasing stand-alone cyber insurance increased by more than 20% in the past year.
His appearance followed by one day Senator Jay Rockefeller’s release of a report stating Target “possibly failed” to take advantage of multiple opportunities to prevent the data breach late last year when cyber criminals stole the financial and personal information of up to 110 million consumers.
FTC chairwoman Edith Ramirez used the hearing to reiterate the agency’s call for a strong federal data security and breach notification law. “Never has the need for legislation been greater,” she stated.
As targeted network attacks continue and governmental agencies increasingly regulate the cyber environment, forward thinking organizations are transferring their risk to cyber insurance products. Contact your KMRD Partners relationship manager to review your organization’s cyber insurance needs before one minute from normal.
KMRD reduces the overall cost of risk for clients by producing a greater value for each insurance dollar spent, while utilizing an enterprise risk management approach to engineer the optimal solution. The firm’s diagnostic process is supported by its unique collaborative technology, KMRD XCHANGE ®
We are dedicated to anticipating risk and helping firms recover from unplanned events that wait on the other side of one minute from normal.
To identify and correct coverage and service gaps in your business insurance risk profile contact us at contactus@kmrdpartners.com before one minute from normal strikes.
