This archive report was first published on 29 September 2019.
Published on September 29, 2019, by SAM WAMBUGU, a renowned author.
With the rapid growth of technology and data, insuring digital assets has become a crucial strategy for businesses.
Loss of data due to server outages, fires, or cyber attacks can cripple a business, leading to significant losses and reputational damage.
Insurance covers can provide a safety net, helping businesses recover from losses and maintain productivity.
Cyber insurance policies can also offer access to qualified recovery specialists, who can aid in the recovery process.
However, setting up a cyber liability cover can be a complex process, requiring the insurer to assess the organisation's risk management plan, technology age, data access practices, and staff training.
Good digital data hygiene practices, such as backing up data, storing sensitive information securely, and using cloud-based backup services, are also essential.
Organisations should invest in insurance covers and spare no effort to protect their data, as the confluence of technology and data makes it the new centre of gravity for many businesses.
