The Russian invasion of Ukraine will bring economic and social consequences of dimensions unknown to Europe. Added to this is the increase in cyber attacks, which will not be unrelated to Canarian companies. We tell you how to protect your company with the best cyber risk insurance in the Canary Islands!
In Spain, and also in the Canary Islands, public administrations have begun to suffer cyber attacks on their computer systems, whose mission is to block information and then ask for millionaire ransoms. The situation is so serious that the Department of Information and Communication Technologies of the Congress of Deputies reported on February 25, just after the beginning of the Russian invasion of Ukraine, an alert on computer security. The deputies and staff of the institution were asked to take extreme precautions on their devices due to the increase in cyber attacks.
In the Canary Islands, cyberattacks from the conflict zone have also been detected, to the point that The Cabildo de Tenerife has decided to suspend connections with servers in Russia and Ukraine.
Can cyberattacks affect companies in the Canary Islands?
The reality is that even before the conflict in Ukraine, cybercrime had experienced a notable increase on the islands. According to the Santa Cruz de Tenerife Chamber of Commerce, one in three Canarian companies has suffered a cyber attack. With the risks posed by the current war between Russia and Ukraine, it can be expected that companies and SMEs in the Canary Islands will be affected by cybercrime.
How does a cyber attack affect a company?
A cyber attack can block a company's computer systems, even paralyzing production. In the face of a cyberattack, it is impossible to maintain the normal operation of the company, with the consequent economic losses that this would entail. In addition to the company's own damage, there are the damages that may be caused to customers and suppliers, such as the loss of personal and confidential information, and its legal consequences. Last but not least, there is the damage to the company's reputation after a cyber attack.
How can you protect your company from a cyber attack?
The best way to prepare and protect the company from a cyber attack is to have cyber risk insurance. in our post «How to protect my company from a cyber attack?» We extend information about the cyber risk insurance in the Canary Islands and its covers, of which we mainly highlight:
- Crisis control and management expenses
- Expenses of extortion to recover the information
- Civil liability against third parties
Do you want to protect your company with the best cyber risk insurance in the Canary Islands? Contact our insurance brokers in Tenerife and Las Palmas now, they will be happy to advise you!
Concentrate your insurance with Canarisk
Concentrate all your insurance in Canarisk and obtain numerous advantages and benefits. Hiring all your insurance in our Insurance Brokerage in Tenerife and Las
We got the best medical insurance in the Canary Islands for you!
If you are looking for private health insurance in Tenerife and Las Palmas, you have come to the right place. Our knowledge of the local market allows us to always offer you,
Guaranteed improvement of your insurance
At Canarisk we are committed to improving any insurance you bring from the competition, under equal conditions and coverage. Your trust in our management deserves this