One of the main current vulnerabilities for companies are cyber attacks. No company is exempt from suffering a cyber attack. At Canarisk, we have the best cyber risk insurance to protect Canarian companies against cybercrime.
What is a cyber attack?
Cyber attacks are actions to access or damage a computer system or networks. Cyber attacks can result in loss of money or theft of personal or financial information. These attacks can affect a company's or personal reputation and security.
What consequences can a cyber attack have for a company?
Currently, cyber attacks are a threat to companies in the Canary Islands. Cybercrime can lead to serious economic losses for companies in the Canary Islands. Among the main consequences of a cyber attack we highlight:
- Damage to computer equipment
- Data loss
- reputational damage
- Civil liability against injured third parties
- Economic loss
What economic consequences does a cyberattack have for a company?
A cyber attack can jeopardize the continuity of the company. Economic losses can be substantial as a result of:
- Expenses for extortion
- Sanctions for non-compliance with the protection of personal data of clients or employees
- Lawsuits and legal defense expenses
- recovery expenses
What does cyber risk insurance cover?
Fundamentally, The cyber risk insurance will compensate the company for the costs that it has to assume as a result of a cyber attack: sanctions, extortion expenses, data recovery expenses, legal defense, etc. In addition, we also highlight other coverage:
- Team of experts that will control and resolve the situation in the face of a cyber attack.
- Technical support for data and equipment recovery.
- Advice and consultancy against reputational damage
- Loss of profit due to business interruption.
Is it necessary to take out cyber risk insurance for companies in the Canary Islands?
If we take into account the study carried out by Deloitte, 94% of Spanish companies suffered a cyber attack in 2021. In addition, one in two companies in the Canary Islands has suffered a cyber attack. Therefore, if It is necessary and highly recommended that companies in the Canary Islands take out cyber risk insurance.
How much does cyber risk insurance cost in the Canary Islands?
Un cyber risk insurance in the Canary Islands It is not expensive if we compare it with the economic losses that it will avoid us in case of suffering a serious cyberattack. to know the price of cyber risk insurance in Tenerife or Las Palmas, it is necessary to know the activity of the company and its annual turnover. If you want, Contact our insurance brokers in the Canary Islands now and they will advise you to protect your company from cybercrime.
