Believe it or not, every marketing decision today is driven by data. Having said that, we mean, businesses today cannot run without their database as they have shifted from offline to the online model of business. It applies to industries on a holistic basis. As a matter of fact, hackers have become more aggressive and active than ever before aiming the financial assets as well as the personal data of people of all age groups. The latest ransomware attacks worldwide are the glaring examples of this new phenomenon. Therefore, you need a stronger push towards encryption such as the encrypted vaults. Continue reading “Significance Of Encrypted Vaults To Organize Your Important Information”
Much water has flowed under the bridge since the launch of cryptocurrency. It is palpably the New Age currency with an improved security feature. But, the crux is that cryptocurrency has now been the hot target of hackers and robbers worldwide. Even in the US, many people have suffered due to the explicit crypto wealth that they disclosed knowingly or unknowingly. Having said that, we mean, the disclosure of your crypto assets can potentially put you in trouble. Cases like abduction for ransom and cryptocurrency robbery at gunpoint have been reported. Therefore, the real challenge now is to safeguard the cryptocurrency wallet. Continue reading “Is Cryptocurrency The New Malady Or A Boon?”
Cybersecurity is a matter of grave concern in the present era. It has gained a substantial attention and investments both from the private and government sectors, especially in view of the languishing pains they have been subjected to in the recent times. Ransomware attacks, for instance, took away the happiness of the cybersecurity experts all over the world including some of the most advanced countries in the world such as the US and the UK. Having said that, we mean cyber protection is a matter of common concern to all. Therefore, the challenge ahead is twofold to all businesses that have an online presence namely protecting legacy and minimizing the loss in the event of a security breach. Continue reading “Is Cybersecurity Insurance A Fad? Key Things You Must Know”
Cybersecurity breaches have become one of the most predictable parts of every business. Almost every year, many companies are losing hundreds of billions which is more than the amount spends on recovering from hurricanes. In addition to that when the information like social security numbers and other sensitive data are stolen and it breaks into digital systems. Continue reading “Is Cybersecurity Insurance A Smart Investment For Your Business?”
Though cryptocurrency is an encrypted digital currency and it is distributed on the blockchain, the concern for a security breach cannot be ruled out here. Having said that, we mean, there are two critical components in the use of cryptocurrency that you must not overlook namely the security of your access credentials and the devices that you use to access the cryptocurrency wallet. In other words, security of your wallet is a shared responsibility involving you and your security service provider. However, companies like LegacyArmour have developed encrypted e-vaults that protect your currency wallet with a hundred percent infallibility. Continue reading “Store Your Cryptocurrency With LegacyArmour Vaults”
For the past few years, cybersecurity industry has been experiencing a rapid increase in cyber crimes and this not only has affected the business but your daily life as well. If we analyze the figures and facts of cybercrime and cybersecurity, we will see that cyber crime possess the ability to cripple your legacy by damaging your business overnight. So before you start securing your personal details and business transactions as digital assets with Legacyarmour to avoid unclaimed benefits and to plan your succession strategically, take a look at how cybercrime can create havoc influence the economy in the next 5 years. Continue reading “5 Facts Of Cybercrime & Cybersecurity With Statistical Figures”
Our regular life, national security, and economic vitality are all dependent on a safe, resilient and stable cyberspace. Cybersecurity along with its varied underlying infrastructures tend to be susceptible to great risk that seems to stem across cyber and physical hazards and threats. Complicated nation-states and cyber actors are found exploiting these vulnerabilities for stealing money and information. This way they are into creating capabilities for destroying, threatening and disrupting the delivery of important services. Continue reading “Insurtech And Its Influence On United States Cybersecurity Laws”
Internet and technology have their own roles to play in any types of businesses or even other professions. The entire work is paced up with the use of technology and internet. At the same time, it is also true that cybersecurity is also at risk due to increase in crime rate in the online world. That is why most business owners or other people in the online world are looking forward to services of Cybersecurity Insurance to protect their business. Cybersecurity insurance helps in prevention of the data breaches so that the concerned owners may remain assured about the total safety of their data. Here are some of the most important things that you need to know about cybersecurity insurance. Have a look.
What is cybersecurity insurance meant for?
Also known as Cyber liability or data breaches liability insurance, cybersecurity insurance as made available by legacyarmour is basically a type of impartial coverage. It means this type of insurance allows you to recover from data loss. The data loss may be caused due to the security breach or such other events. The concerned owners are able to recover their data completely.
Coverage of part of financial risk
Unlike other types of insurance, cybersecurity insurance covers only part of the financial risks involved in cyber crimes. It means you can get compensation from the relevant insurers to some extent. Also, they are not liable for any reputation damage or business recession caused due to the security breach in your legacy system. Depending upon the type of insurance cover opted for by the business owners, cybersecurity insurance offers benefits and compensations accordingly.
Know what is being actually covered
While getting any cybersecurity insurance cover for legacy systems or even other types of systems, it is very much important to know what exactly is being covered under the given insurance. For this, you need to get everything stated in the insurance cover in clear wording. The given insurance plan must be able to cover multiple aspects of your business or other types of organizations. This, in turn, helps you to get maximum compensations by making claims on the basis of your policy.
Opt for insurance according to your needs
Since every business or organization has its own requirements as far as cybersecurity is concerned therefore the insurance covers also vary accordingly. By taking help from professionals, you first need to decision on the specific type of insurance to be required by you and then choose one that best suits your needs. There are first-party insurance, third party insurance and such other insurance covers. You need to choose one very diligently depending on your unique needs.
Get insurance policies at best prices
Definitely, you have to pay premiums in order to get cybersecurity insurance policy for your business or organizations. For this, you need to opt for the best security policies for your business. Also, you need to develop a hearty recovery plan so that you may opt for such an insurance policy that charges reasonably based on the security features of your business.
By knowing these essential things about cybersecurity, you may successfully get one that is most reasonable and suitable for your business needs.
The increasing pace of digitization and malware attacks worldwide has stirred the cybersecurity industry. It is now an open secret that all hell will break loose anytime soon provided remedial measures aren’t initiated well in advance. Hence, you cannot ignore the importance of managing the digital assets as an individual or a company. In fact, Equifax debacle and the ransomware attacks in 2017 have repeatedly shown how poor is the present cyber protection system of a number of companies even in the US. Therefore, it would be a fair assumption that you and your business too will by default be a victim here.
Therefore, you need a foolproof digital asset management system that can potentially avert data breach and protect the legacy. However, things like cybersecurity insurance have done a justice here by lending an additional security cover to the end users through their security agencies. As such, working with a company like Legacy Armour will always be beneficial for you as an individual and an enterprise both in the short-run and the long-run. The best part here is that the end users do not need to share any cost burden for this extra layer of security. It is their partner companies that bear the cost and it’s up to you to select the partner for cyber protection.
However, to promote this insurance further, prestigious awards like Cybersecurity InsurTech have been instituted in the recent times in the US. You will be happy to know that Legacy Armour is the recipient of the Top 10 InsurTech Award 2017. However, the take away from here is that unless you secure your digital assets in the right hands, some hackers will screw up your happiness for sure that will result in colossal losses both in terms of money and legacy
However, to keep things in the right perspective, it is important to mention that your legacy isn’t confined to the digitized financial documents. It is a sum total of many things such as your address, social security number, date of birth, digitized financial documents, health information, family photographs and video clips to name a few here. Hence, you must know how to keep them secure online. Here is a list of a few things to follow for the purpose.
- E-vaults: Hiring encrypted e-vaults, you can actually avert many lapses here.
- Choice of the delivery method: Preselection of the delivery method, date, and timing to despatch the digitized assets to the designated recipients is important.
- Preselection of recipients: You must name the legal heirs who would receive the assets.
- Preselection of collaborators: Your physician, for instance, might need to access your medical history. In such a case, you have to specially instruct how far the physician can go.
- Working in a secure environment: Always work in a secure environment especially when you are uploading data.
- Demand for insurance: Demand for working with an agent who has the cybersecurity insurance.
In short,cyber protection is a complex process that involves a lot of precautions and security measures at every step. In the end, your digital assets are well managed and stay protected.
With the growing need for online safety in the face of the malware attacks, you will find advice from all and sundry. But, listening from the horse’s mouth always pays. Having said that, we mean, it is the real world and thus, experts advising on how to secure your life, estate, or life insurance must be genuine. That’s where companies like LegacyArmour have carved a niche. This is no jargon. You too would agree when you talk to the people there. Sahar M. Ismail, for instance, is the CEO of LegacyArmour. She has more two decades of hands-on experience and expertise in cyber protection while managed clients’ assets worth billions.
A token of appreciation here is the 2017 InsurTech Top 10 award to LegacyArmour for its outstanding contribution protecting the legacy of millions worldwide. However, to put things in the right perspective, it is important to mention that securing your personal assets is a conscious choice you make at the time of hiring advisors. For instance, when you hire the services of an advisor to do the financial, estate, or the life insurance planning, you must not forget to ask how he would bring cybersecurity insurance in your favour. The onus to mention that this insurance is one of the most trusted mechanism to date to secure digital assets.
Why insurance on cybersecurity?
This is a very rational question here, especially for the Gen Y who would soon join the workforce contributing to the development of their country or their employer organizations. In return, they will earn handsome money. At the same time, they would need to plan in advance about their future such as the family, retirement etc. Here is a list of few points that will urge Gen Y and the people belonging to the old school of thought to go for further protection from the Cybersecurity Insurtech companies.
- Free to the end users: This may be surprising but true that this insurance comes free of cost to the end users like you. Having said that, we mean, when your advisor works with a company that has this insurance on its side, you get automatically covered.
- Additional cover: Despite using the highest grade encryption and the encrypted e-vaults, the possibility of an online security breach cannot be ruled out completely. After all, data upload starts with you and how secure is the environment where you work will decide the future of your cybersecurity.
- Protecting legacy: With an insurance against the financial losses, your lifelong savings and inheritances stand completely protected here.
- Freedom from worries: Since you get the extra cover of an insurance here, you feel free to live on your own terms without worrying about the future or the legacy.
The increased pace of digitization for all types of assets worldwide has set the ball rolling in favour of the cybersecurity insurance. Therefore, it is the high time that you ask your advisors with a mandate to ensure compliance here on your estate, life insurance, and the financial assets. Act smart and stay blessed on the journey called life.