Cyberattacks have long been part of everyday life – for large corporations as well as small and medium-sized enterprises. The damage ranges from data loss and business interruption to reputational damage. In this reality, cyber insurance offers important protection. But what do they really cover? And what should companies look out for?
What does cyber insurance cover?
Modern cyber insurance policies cover a wide range of risks – including:
- Data loss and data corruption
- Data theft and unlawful disclosure
- Denial of service attacks
- Costs for IT experts for data recovery and malware removal
- Legal costs for data protection breaches
- Informing those affected in the event of incidents
Example: The Cyber Protect insurance of Wiener Städtische offers comprehensive cover specifically for SMEs – including crisis management and 24/7 support. The Danube Insurance also offers protection against identity theft, data loss and even replacement devices in the event of irreparable damage.
What is not insured?
Despite the wide range of services, there are also limits:
- No protection in the event of intentional misconduct
- No cover for non-compliance with security requirements
- No substitute for ransom payments or cyber extortion
- No protection against infringements of licenses or copyrights
Important: Many insurers require minimum technical standards – such as regular backups, up-to-date virus protection solutions and trained employees. Without these, a company is often not insurable. Find out about our Cyber Fitness Check to meet all requirements quickly and easily.
Conclusion: protection with responsibility
Cyber insurance is not a substitute for IT security, but a useful addition. They help to cushion financial losses and offer professional support in the event of an emergency. However, if you want to protect yourself, you should also regularly review and improve your own security strategy.
🚀 Get active now – with CyRiSo
🔍 How well is your company protected against cyber risks?
Take the free, individual cyber check at https://cyriso.io – simple, fast and holistic.
📞 Would you like to improve your IT security and insurability?
Contact us directly – we will advise you individually and practically.
