Considering the amount of data containing confidential or sensitive information that businesses store digitally, cyber liability insurance becomes more and more important every day. This kind of insurance is necessary not only for protecting businesses from data breaches but also for remaining compliant with all relevant legal and industry-specific regulations. From global standards set by regulatory bodies like the European Union to mandates in US federal law, ARCON products can help your business meet the compliance requirements set by a variety of regulatory entities. Implementing the proper technology, such as ARCON’s solutions, can reduce insurance premiums, and some companies may not even insure your cyber security without proper protection in place.
Cyber risks businesses face
Businesses face a variety of cyber risks every day, including network failures, malware infections, cyber extortion demands, ransomware, and data breaches. Digital identities are the most common attack vector, but many businesses are unaware of just how vulnerable their many unique digital identities are. Some cyber insurance companies have even mandated Privileged Access Management (PAM) technology to obtain cyber insurance.
Cyber liability insurance can include identity protection, but there are more steps businesses can take to protect the digital identities of their employees and devices. ARCON’s solutions create a digital fence around your core digital infrastructure to protect these digital identities and secure your digital assets. The cost of cyber insurance can be significantly reduced if they have ARCON’s technology deployed. We can also provide extensive insight into your data so you know what you have, what is important, where it lives, and when it moves. This ensures you’re always protecting the most contextually important pieces of information and can follow its trail should it ever move.
These threats businesses face become more complex and sophisticated by the day, making it not a question of if your organization will be threatened or suffer a breach but when. This fact highlights the need for cyber security insurance that protects against these evolving threats. Combined with cyber liability insurance, a comprehensive plan and secure identity management solutions from ARCON allows businesses of any size and in any industry to mitigate cyber risk and achieve security compliance. In addition to increasing security, these measures can also increase productivity.
Protect your business with ARCON solutions
While it’s true that larger corporations face more risk and have more areas of vulnerability, cyber insurance for small businesses – even mom and pop shops – is still important. ARCON understands the complexity of cyber threats facing businesses small and large, and we have the solutions that help ensure data and other important business assets are protected.
Request a demo today to see our privileged access management solutions in action!