Best Cybersecurity Insurances 2023
Best Cybersecurity Insurances 2023 Tecnek Cybersecurity Mapfre MGM Seguros AXA Allianz Catalana Occidente.
Tecnek Cybersecurity, Mapfre, MGM Seguros, AXA, Allianz, Catalana Occidente are some of the companies offering cybersecurity insurance in 2023 Do you want to know why it is advisable to choose a good insurance? We answer your doubts in this article. Many companies are not clear about which is the best insurance to protect their data in the most effective way. Each one of them has different needs, but what is clear is that all of them need to acquire one, since cyber-attacks have been increasing in recent years.
Every company, regardless of the sector to which it belongs, must have an insurance policy that protects it against any type of incident and with sufficient coverage to cover all the vulnerabilities it faces.
Many of these insurances provide prevention and advice, through analysis of computer systems and personalized status reports, with the aim of helping to improve information security, as is the case of Seguros AXA, Caser Seguros, Mapfre or Reale Seguros.
These insurers, generally focused on SMEs, have a wide range of coverage, including Civil Liability, adapted to each risk, to deal with third parties in cybersecurity matters.
In addition, examples such as Caser Seguros or Reale Seguros, offer adaptation to the RGPD regulations for each company and the LOPD. Reale Seguros, in particular, focuses on taking care of the administrative sanctions of the LOPD, and protects the SME against possible claims from third parties.
On the other hand, in the event that the company suffers some kind of attack, a series of services are made available with the aim of mitigating the damage that may be caused. These services focus on online reputational improvement, covering expenses, identity protection, recovery of damaged data or equipment, among others.
Mapfre, on the other hand, focuses a lot on covering own damages and Civil Liability, focused on privacy violation, data protection, cyber extortion threats.
In case of data loss, they have experts who will help restore all the information and the system to be able to work normally. These insurers have specialized personnel in the area of cybersecurity, something very important for any company that wants to protect its business, since, nowadays, there is little specialization within this sector. Because of this, hiring an insurance policy that helps protect the entire company in the hands of professionals is essential.
Since there is a wide variety of services that focus on protecting SMEs from cyber risks, companies must choose the one that best suits their needs and add more or less coverage depending on their shortcomings.
On the other hand, companies such as Tecnek Cybersecurity changes a bit the way they offer their cybersecurity insurance, as they offer solutions before an attack occurs in order to protect the company without economic or reputational losses. Within its cybersecurity insurance, different control and analysis tools are included in order to avoid hacks.
A good insurance guarantees the protection of each business and with it, that of its reputation. Nowadays, every company must be aware of the risks to which it is exposed and prevent, at all times, any cyber-attack.
To cover your company from all the risks and attacks it may suffer, the first recommendation is to contact cybersecurity companies to solve all the failures in the security of your company, but always keep in mind that the risks, although minimized, are possible. To solve information leakage, data theft, the possibility of suffering a cyber-attack, it is highly recommended to take all existing measures, an action like this can avoid future disasters in your company. That is why we recommend some of the best cybersecurity insurances in Spain.
RANKING OF THE BEST CYBERSECURITY INSURANCES 2023
Nowadays, most Spanish companies depend on new technologies to carry out their activity and, consequently, their risk increases as they are more exposed. For this reason, many of them have already been involved in cyber attacks, causing serious damage to their business reputational and economic damage.
Cybersecurity insurance policies address these risks, protecting not only the company, but also its employees and customers. That is why, below, we will present the ranking of the best cybersecurity insurances 2023 in Spain with their advantages and the coverage they offer:
TECNEK CYBERSECURITY
Tecnek Cybersecurity does not offer a cybersecurity service like other insurers. However, the company stands out for providing solutions to prevent attacks to all customers before they happen.
In this way, Tecnek Cybersecurity offers scalable and flexible solutions that adapt to the needs of each client, sector and company in order to protect their equipment, data and employees.
Among its most outstanding services included within cybersecurity we find:
Security consulting with comprehensive actions focused on protection and prevention. This service will allow to know in what state is the company and if it is exposed to any vulnerability.
Intrusion tests to check the security of the company's assets.
Monitoring and control of systems to detect any risk.
Among other services, Tecnek Cybersecurity minimizes the risks and threats of companies with a complete and quality plan. Discover all the details on their website by clicking here.
MAPFRE CYBER RISK INSURANCE MAPFRE
Offers a very complete service in cybersecurity matters, including coverage for own and third party damages, as well as technological services that are essential to be able to recover normal activity after suffering an attack. MAPFRE's Cyber Risk Insurance is designed to protect both companies and individuals of the current vulnerabilities.
Its objective is to offer complete protection against an intangible threat of this type of risk.
What coverage does this cybersecurity insurance have?
On the one hand, MAPFRE's Cyber Risks Insurance offers Civil Liability coverages where it includes:
Civil Liability for breach of privacy
Liability for multimedia and advertising
Defense expenses, bail bonds and conflicts of interest.
On the other hand, it offers coverage for own damages:
Damage to the insured's computer systems
Business interruption coverage
Cyber Extortion Threat Warranty
Data protection guarantee
Preventive technology services include:
Antivirus + Antiransomware
Data protection consulting
Network vulnerability analysis
CYBERSECURITY INSURANCE FROM MGS SEGUROS
The cyber-risk insurance offered by MGS Seguros is designed for small and medium-sized companies, offering a set of solutions that promote cybersecurity and reduce existing risks. This cybersecurity insurance includes both the prevention of attacks and compensation guarantees in case one happens.
What is the coverage of this cybersecurity insurance?
First of all, it is a comprehensive solution that is composed of a basic first level coverage, within it is included:
Specialist services in the event of an incident for its management.
Digital content that promotes cybersecurity awareness in the company.
Computer protection and monitoring
Identification of vulnerabilities in the web with technical report of the same, by means of the Cyberprotection Guarantee.
In addition, optional coverage can be included to reduce the risk of the economic impact of the insured company in the event of a cyber-attack:
- Legal Services
- Image Restitution
- Notification expenses
- Data protection obligations
- Liability for use and processing of information
- Digital media activities
- Cyber Extortion
- Network disruption
- External service provider
CYBERSECURITY INSURANCE FROM AXA
Cyber risk insurance aims at prevention and information in order to avoid any vulnerability that puts the business at risk. For this reason, its cybersecurity insurance offers:
Personalized analysis to improve information security.
Unlimited technical assistance from cybersecurity experts 24 hours a day.
In the event of a cyber-attack, it has damage and civil liability coverage adapted to this risk.
Forensic service, system restoration, equipment recovery, virus decontamination...
What coverage does this cybersecurity insurance have?
First of all, this insurance has Cyber protection, where the following services are included:
Protection and assistance in case of damage or loss of data, data theft and denial of service.
Action in case of malware, acts of third parties, human error or employee infidelity.
If the cyber-attack is caused by a third party, they cover claims and penalties you may suffer.
To mitigate the damage suffered, AXA's cybersecurity insurance offers services provided by specialists in cybersecurity attacks to improve reputational damage, identity protection on the Internet and the costs of notifying those affected.
On the other hand, AXA offers optional guarantees that companies can take out in addition. These guarantees are focused on business interruption in the event of a cyber-attack.
ALLIANZ CYBER-SECURITY INSURANCE
Focuses its solutions on the specific needs of each company, regardless of their size and characteristics, offering customized cybersecurity insurance. Their goal is to help prevent cyber-attacks through IT assistance and backups. In case the attack has occurred, they have legal assistance services and recovery of lost data.
What coverage does this cybersecurity insurance have?
Among the most basic coverages we find:
Civil Liability coverage towards third parties where claims for data breach, damages for acts in the media, sanctions on data protection and loss of profits due to business paralysis are included.
Post-attack assistance with legal and IT assistance, availability of IT experts, recovery of accounts and data, restoration of backups.
Risk prevention with IT assistance, cloud backups, data protection adequacy and anti-hijacking application.
CYBERSECURITY INSURANCE FROM CATALANA OCCIDENTE
The cyber-risk insurance offered by Catalana Occidente is designed to deal with the consequences of suffering a cyber-attack. The advantages that we find in this insurance are:
Damages covered, where the necessary expenses for crisis management as a result of the cyber-attack and the necessary communication campaigns to counteract the reputational damage are included.
Professional advice
Preventive services included to minimize the chances of cyber-attacks and improve the security of the company's systems.
Adaptation of the company to the obligations established by the RGPD.
What coverage does this cybersecurity insurance have?
Within the coverage offered by Catalana Occidente we can find the following:
Data coverage: Alteration, loss or theft of data.
Privacy breach
Data security in the payment card industry.
Liability coverage for breach of confidentiality and privacy.
Business interruption covering derived overhead and gross profit.
Cyber extortion and reputational risks.
WHY SHOULD YOU TAKE OUT CYBERSECURITY INSURANCE IN 2023?
Companies must be prepared for all existing risks and vulnerabilities. Throughout 2021, more than 50% of Spanish companies suffered a cyberattack due to little or no cybersecurity measures. Cyberattacks have become complex and difficult to detect. Therefore, it is necessary to have a cybersecurity insurance that protects you from all its consequences.
WHAT SHOULD YOU TAKE INTO ACCOUNT WHEN BUYING THE BEST CYBERSECURITY INSURANCE IN 2023?
When you search the Internet, you can find an infinite number of options and insurers offering cybersecurity insurance. However, before contracting, we must consider the impact that an attack can have on our business and how it can be mitigated thanks to a cybersecurity insurance. It is very important to identify the sources of risk and ask about the coverage of each insurer. In addition, it is important to know the security measures we have in place and to know the degree of awareness among employees. It is very important to anticipate a cyber-attack, preventive measures are key in all companies.
