Cyber insurance for companies: only to be taken out against proof?
Humans are considered to be the greatest weak point and are not infrequently the reason why criminals can even break into a network. Cyber insurance should cover the most important risks. Now the first providers are thinking about offering this insurance only if the company can provide evidence of training on cybersecurity.
Human weakness: The greatest gateway for criminals is the user himself
Often it is a question of the fact that a network or a computer is supposedly not secure enough. But technology is rarely to blame for hacker attacks! Usually it is the person who sits in front of the computer who opens the door to the criminals. Passwords that are particularly easy to crack are a common problem, another is confirmed confirmations that lead to fake pages. Especially now that many people are sitting in the home office instead of in the office, companies are increasingly exposed to attacks by cyber criminals. Safety regulations are apparently less well observed at home.
The consequences can be serious: loss of reputation and damage to the image of customers and business partners, financial losses due to unauthorized bookings and the paralyzing of an entire company with the problem of ransom payments being resolved are just three examples of this.
Training of employees as the most important measure
In order to protect companies from attacks by cyber criminals, employee training is important. You need to know how the IT system works and what protective measures are possible. At the same time, they should know any weak points so that they can pay particular attention to them. It should be clear that a firewall is important because there is no need to invest a lot of money in back-up software if the firewall is left open. Infiltration of the system is then only a matter of time and could have been prevented by simple means. If these means are known! It is not for nothing that more and more cyber insurance providers are trying to protect themselves against ignorance. You now only want to offer insurance if the company making the request provides evidence that the employees have participated in appropriate safety training.
However, two thirds of Swiss companies cannot provide such training and therefore have to live with the fact that the company is repeatedly attacked by hackers. However, awareness training is important so that employees know what is important and what are the signs of a possible attack. You also need to know where the limits are and when they are all important, because you are the only one standing between the company and the attacking person. In training courses, it must therefore become clear which goals possible attackers are pursuing and how the individual cases must be reacted to. It should also be explained that attack strategies can change and that criminals are becoming more and more brilliant at concocting new attack scenarios.
Conclusion: Cyber insurance only as a supplement to training
There is no question that cyber insurance is important in order to prevent or regulate damage to the company from hackers. But employee training is just as important. Leading providers of such insurance provide that insurance is no longer possible without training or that only very expensive insurance solutions are offered. In the meantime, a company that does not offer any training courses can no longer take out cyber insurance. It is therefore in the interest of all parties involved to conduct appropriate training and thus protect the company as best as possible (also in terms of insurance).
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