Cyber insurance has dramatically evolved since the first coverages were added to other policy forms in the 1990s. Traditionally, cyber coverages were only considered necessary in the technology industry — or for those providing technology-related professional services. It was the dawn of the digital age and growing cyber risk exposures across all industry classes that [...]
In business, a tailored solution is important. One size doesn’t fit all — whether you’re talking about conference attire or managing business risks. Cyber insurance is one area where the wrong fit can be particularly risky. Different industries face different risks, so it's important to choose protection that's tailored to your business needs. The same [...]
As the administrator of the CyberLock Defense Insurance program, Lockton Affinity is always on the lookout for new resources that may help businesses reduce their risk of wire fraud. Wire fraud is a significant cyber risk for business, because it can harm relationships with clients and customers and impact your insurability. Protecting against wire fraud [...]
One way to mitigate the increased risk of cyber attacks is to look to low-cost and no-cost solutions that can offer an immediate risk management benefit without added expense or complexity. CyberLock Defense has prepared this list of 12 low cost and no cost ways to help prevent cyber attacks on your business. 1. Identify [...]
News about the outbreak and spread of Covid-19 dominated headlines in 2020. Yet for many law firms, Covid-19 has not been the only kind of virus threatening their businesses. In the past year, there has been a massive surge in ransomware attacks targeting law firms, costing law firms hundreds of millions of dollars, exposing sensitive client [...]
Cyber attacks are common and damaging for businesses. Yet many businesses do not have a sufficient cyber attack response plan in the event of a cyber attack. Even with the increasing frequency and cost of cyber incidents, as many as 34% of businesses don't have a formal cybersecurity incident response plan applied uniformly across their [...]
The right expertise can make all the difference in a cyber security breach, which is why we assembled the CyberLock Defense HDI Panel to provide a full range of cyber specialist resources for policy holders. Cyber-related claims are increasing. Cyber attack losses to businesses almost doubled between 2017 and 2018, from $1.4 billion to $2.7 [...]
Cybersecurity is an area today's organizations can't afford to ignore. According to cybersecurity experts, system access, customer data, business credentials and communications are all vulnerable. Plus, an attack can damage trust and harm your business. Explore these real cyber attack claims CyberLock Defense has covered: Cyber Attack Claim #1—Ransomware attack A mid-sized hospital network was [...]