Cyber Insurance
"Cyber incidents, including data breaches and ransomware attacks, are currently ranked as the top global business risk", according to the Allianz Risk Barometer. This means they pose a greater threat to businesses than other types of losses, such as natural disasters or business interruptions. In today’s increasingly digital landscape, even traditional industries like brewing are becoming more reliant on technology. From automated brewing systems and supply chain management tools to e-commerce platforms and customer loyalty programs, breweries—large and small—are integrating digital tools into their operations. With this integration comes a growing exposure to cyber risks.
What We Offer
Data Restoration
Data restoration is a critical step in recovering from a cyber attack. It involves identifying, cleaning, and reinstating lost or compromised data from secure backups. The process begins with assessing the extent of damage, isolating affected systems, and ensuring the threat has been removed. Once secure, backup data—ideally stored offsite or in the cloud—is used to restore systems to their pre-attack state. Timely and effective data restoration minimizes downtime, helps resume operations quickly, and protects the integrity of business information. Regular backups and a well-defined recovery plan are essential to ensure successful restoration.
Legal Fees
Legal fees associated with cyber attacks can be substantial, as businesses often face regulatory investigations, lawsuits, and compliance obligations in the aftermath of a breach. These costs may include hiring legal counsel to navigate data privacy laws, respond to government inquiries, and defend against class-action lawsuits from affected customers or partners. Additionally, businesses may need legal assistance in managing contractual obligations, notifying stakeholders, and negotiating with cybercriminals if ransom demands are involved. Cyber insurance can help cover these legal expenses, providing crucial financial protection during a crisis.
Business Interuption
Business interruption is a major consequence of cyber attacks, often resulting in halted operations, lost revenue, and disrupted supply chains. Whether due to ransomware locking down systems or a data breach forcing a shutdown for investigation, the downtime can be costly—especially for small and mid-sized businesses. Cyber insurance often includes coverage for business interruption, helping companies recover lost income and cover ongoing expenses while systems are restored. This financial support is critical for maintaining stability and ensuring a quicker return to normal operations after an attack.
Customer Notifiction
Customer notification is a crucial and often legally required step following a cyber attack, especially when personal or financial data has been compromised. Businesses must promptly inform affected individuals about the breach, detail the type of data exposed, and provide guidance on steps to protect against potential identity theft or fraud. This process can be complex and costly, involving legal consultation, communication planning, and sometimes credit monitoring services. Cyber insurance can help cover these expenses, ensuring compliance with data protection laws and helping preserve customer trust during a challenging time.
Public Relations
Public relations play a vital role in managing the fallout of a cyber attack. A swift, transparent, and strategic PR response helps protect a company’s reputation, reassure stakeholders, and maintain customer trust. Effective communication includes acknowledging the breach, explaining what actions are being taken, and outlining steps to prevent future incidents. Mishandling the narrative can lead to long-term reputational damage and loss of business. Cyber insurance policies often include coverage for public relations support, providing expert guidance to manage messaging and media relations during and after a cyber crisis.
Ransom Payment Coverage
Insurance coverage for ransom payments in cyber attacks is an important component of many cyber insurance policies. When a business is hit with ransomware, attackers may demand a ransom to unlock encrypted data or stop the release of sensitive information. Cyber insurance can help cover the cost of the ransom, as well as expenses related to negotiating with attackers, legal consultation, and restoring systems. While paying a ransom is a difficult decision and not always recommended, having insurance provides critical financial and expert support to guide businesses through the crisis and minimize operational and reputational damage.
