Many businesses assume that they have transferred their liabilities and risk when their data is in a cloud provider hands. This may not be the case and you may not be able to rely on any protection in terms of liability with your cloud providers
In a recent webinar we hosted, a question was raised to mitigate the need for some cyber protections and consequence of an attack due to cloud based services being purchased. Provided that you have systems, policies and procedures in place to keep data secure, using the cloud as a backup option is suitable and provides benefits to re-instate data and potentially defeat ransomware demands, which are increasing.
Certain things that you may need to consider when using a cloud-based service include:
Such steps should assist to mitigate the risk of ransomware and other cyber-attacks. It is essential that you manage data as securely and as closely as you would if this was stored on your own systems. There are also information commissioner and GDPR issues around data that is sensitive or personal that is then made public, this is still your risk and liability.
Cyber insurance can help protect your business against a range of cyber threats and exposures, including cybercrime, data breaches and system interruption.
Top activity areas for cyber-criminal include:
Cover can now be purchased as part of a cyber protection policy to protect against attacks on customer data that cause you to breach GDPR.
Towergate Insurance are partners with Care England, NCF, Homecare Association and a number of regional associations and are actively engaging with insurers and our clients to obtain cyber protection for businesses of all sizes, to protect against the very real and growing threats of the digital age. We can offer cyber insurance for care businesses to help protect you should the worst happen.
Carolyn Baker-Mellor is a respected industry leader with over 35 years' experience within the care insurance sector. She works across a wide spectrum of insurance product and policy development, delivery and optimisation for care industry clients, including managing global corporate accounts, working closely with trade associations, and helping clients in protecting their businesses and personal assets.
Date: July 31, 2020
Category: Care and Medical