Leaderim specialises in arranging cyber insurance, providing unique tailor-made insurance solutions adapted to the risk profile and industry-specific cyber exposures of financial institutions, energy and infrastructure companies, manufacturing concerns, multi-national companies and more.
Due to the increasing need to cope with cybersecurity threats, which have become much more cunning and harmful over the last few years, and in the wake of recent changes to cyber legislation and regulation in Israel and abroad, cyber insurance has become an crucial and integral part of the risk management program of any major corporation. It can be extremely costly to cope with cybersecurity events, which can have a devastating impact on the financial situation of the company and pose a strategic threat to its future, since most losses of this type are not covered under a traditional insurance portfolio.
A cyber insurance policy is designed to provide protection against direct and indirect liability and expenditure in a cybersecurity event. The policy covers the costs involved in responding to a cybersecurity event and provides a designated crisis-management team comprised of cybersecurity and IT experts, lawyers, public relations officers and more.
In a world where every business is exposed to cybersecurity risks in one way or another, it is essential to have a contingency plan in place to ensure ongoing operation and commercial growth and cyber insurance is an effective and practical tool in the overall management of cybersecurity events. The policy also covers the loss of profits arising from a cybersecurity event and other consequential losses.
The process of arranging cyber insurance can be intricate and it is essential to obtain advice from a professional insurance broker with the expertise to analyse the exposures and the risk management program of the company including legal aspects, and tailor the insurance cover to the unique needs of the corporation.
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