Aston Charles Ltd’s Post

The "better" actuaries and underwriters will tell their management that because there is not enough credible data, the insurance product should not come to market. At all. (Re)insurers and brokers have been enjoying the safety of the insurance industry generating profit from the sales of cyber insurance over the last 20+ years. That situation will soon come to an end as cyber risks become more complex (and maximum probable losses either hard to estimate or have estimates that result in combined ratios over 100%) and systemic cyber attacks become the norm. Think CrowdStrike on steroids ... #cyber #cyberrisks #systemiccyberattacksthenorm #crowdstrikeonsteroids

Only the big ones make the news. Although you don't see them in the headlines, small businesses are the frequent target of cybercrime. Even though any form of successful cyber attack would be detrimental to your business, having the right kind of cyber and professional insurance can go a long way in getting you back on your feet. If you aren't sure that your business has the coverage it needs to get you and your employees working again after a breach- contact us at Synergy and let one of our professionals help get you the protection you need.

Thanks to the almost 500 Brokers who registered for our most recent webinar! During the event, Neal Jardine shared gripping narratives of cyber breaches and the deceiving tactics used by hackers, and how cyber insurance can help small businesses mitigate financial losses. Here’s what was discussed: ✔️ Tech support and fraudulent help desk claims are on the rise. It's crucial to remind clients that personal cyber protection is available, which includes coverage for online fraud incidents. ✔️ Social Engineering, including invoice fraud, remains the most common and popular cyber attack. ✔️ Whether you're buying or selling online, it's essential to get protected. Criminals are actively targeting SME businesses. ✔️ In today's digital age, all businesses run on or rely on cloud systems. Cyber protection is your safety net for when others let you down. Watch the recap here: https://hubs.la/Q02wg82P0

65% of law firms have been a victim of a cyber incident. That's more than a little unsettling isn't it. And if that's not enough, the insurance industry is having a field day at our expense, with the value of global cyber insurance premiums quadrupling in five years. It's becoming increasingly easier for our personal data and security to be compromised. It's simply not enough nowadays to sit back and hope it won't happen to you. There's some great resources highlighted by Graham Murphy that give guidance on how you can reduce the risk of it happening to you. So, do you feel lucky, or is it time to make sure your cyber defence is up to scratch? https://lnkd.in/eDHaKZDN The Law Society #prosperitylaw #cybercrime

Having worked in both industries, I am seeing some similarities between #security and #cyberinsurance.   Both tend to be an afterthought.   In some cases, security and cyber insurance are only considered after a business has suffered a security incident.    So why is it that the importance of both is disregarded by businesses?   I speculate the reason is the benefits of either are not fully understood.       Or possibly, businesses do not see themselves as needing it or perceive it as a bad investment.    Unfortunately, the value in both is typically not grasped until a loss is experienced. Hopefully when this occurs, protection is adequate and if not, adequate insurance is in place to help the business respond and recover efficiently.   A strong business case needs to be made for both.   

🔑 Surprising fact: 48% of companies with insurance didn't purchase it until after an attack. Don't wait for a cyber incident to occur before securing protection for your business. Act now to safeguard your business's future. Contact us today! #CyberInsurance #SmallBusiness #RiskManagement #DataProtection #BusinessSecurity #CyberThreats #ProtectYourBusiness #FinancialSafety #CyberDefense #BusinessContinuity

🔑 Surprising fact: 48% of companies with insurance didn't purchase it until after an attack. Don't wait for a cyber incident to occur before securing protection for your business. Act now to safeguard your business's future. Contact us today! #CyberInsurance #SmallBusiness #RiskManagement #DataProtection #BusinessSecurity #CyberThreats #ProtectYourBusiness #FinancialSafety #CyberDefense #BusinessContinuity

In 2023, cyber attacks have become a significant concern in the digital world. Businesses and organizations are not only facing financial losses but also dealing with reputational damage and legal consequences. The cost of recovering from a cyber attack can be overwhelming, leading to long-term financial repercussions. Contact us to see how Cyber Insurance can help to mitigate these costs. #CyberInsurance #CyberAwareness #AskAebly

Are you an insurance agent worried about IT issues disrupting your operations, especially with the 4th of July holiday coming up? 🎆 This week's #TechTipTuesday is for you! Learn how Archway Computer's 24/7 Help Desk can ensure quick resolution of IT problems, minimizing downtime and keeping your agency running smoothly, even during holidays. Watch the video to find out how our round-the-clock support can protect your agency from unexpected cyber events and more. 🎥 #Insurance #ITSupport #ArchwayComputer #247Support

#ALIGNEDInsurance emphasizes the importance of #CyberLiabilityInsurance in protecting against digital threats and their impacts on #Businesses. They offer tailored solutions to address unique #Cyber risks, focusing on comprehensive coverage for data breaches, third-party system damages, data/code loss, and cyber extortion. Their policies cover direct and indirect consequences of cyber incidents, including lost income, operational expenses, and reputational damage. ALIGNED's approach caters to businesses of all sizes, ensuring financial security and peace of mind in the digital era. https://bit.ly/43qxjle #LiabilityInsurance #Insurance #InsuranceBroker #InsurancePolicies #Insurance #CyberLiabilityCoverage