Doing nothing is not an option
Cyber risks are no longer new, just like IT is not. However, many organizations are reluctant to act on control measures regarding cyber risks. As long as nothing has happened to them, the consequences of a cyber-attack or system failure is often unclear. However, since we are all increasingly dependent on IT processes, it’s unwise to do nothing. Cyber risks are here to stay.
Cyber risks? Minimize them!
DIRECT CYBER RISK
- Company downtime
- Repair costs
- Fines and claims from third parties
AVOIDABLE RISK
- Not being able to respond promptly and/or competently to an incident
- Unnecessary escalation of an incident
INDIRECT CYBER RISK
-
Reputational damage
- Loss of clients
- Bankruptcy
ACCEPTABLE RESIDUAL RISK
- You bear this risk
Get to work!
Fortunately, the right partners and solutions are available for many aspects of cyber risks. The checklist below will help you gain better insight and limit your cyber risk.
De information
/Stay in control
Cyber risks are constantly evolving. Meijers knows the way in this turbulent world which is a reassuring thought for an entrepreneur. In addition to knowledge about insuring cyber risks, we have a great deal of expertise about preventing cyber incidents and good risk management.
We would like to know more about what information you need so that you remain in control.
The attack
/Know the enemy
A common pitfall is the desire for airtight protection. That is neither possible nor necessary. It’s smarter (and cheaper) to become and to stay informed of the so-called “attack landscape”. Attack is a broad concept: it can be an error resulting in an ICT shutdown, a sudden ICT failure, an untargeted attack by a bored teenager or a targeted attack by a professional criminal organization. Additionally, you must continue to comply with laws and regulations to prevent low client confidence, damage to your image, and fines.
We are happy to talk to you about mapping out the threats specific to you so that you can take the necessary cost-effective measures.
The defence
/Make it difficult for them
Running software updates, recognizing suspicious emails or password management; these actions really make a difference. You can do a lot yourself – not only what is technical in nature. Behaviour, knowledge and adapted processes also make a major contribution. The trick is to increase your cyber security at the lowest cost possible.
Meijers has the knowledge and a large network of cyber specialists who can assist you further. We are happy to help you on your way by discussing your specific situation. Do you need a consultation?
The risk
/Insure what you can’t manage
It’s very common to shift part of the cyber risk. For example, direct damages and claims can be insured in the event of an incident. In addition, almost all insurers have a team of specialists ready to help you with the essential initial response of an incident.
We are happy to discuss your specific situation in order to make the best possible match. There is plenty to choose from a range of insurers.
The recognition
/Have an expert team ready
Quickly recognizing a cyber incident is important because it saves you time. The faster you are, the less likely the situation will escalate. The crux is finding the right balance: investing in detection options that reduce cyber risk. This consideration is not an exact science and varies from situation to situation.
We are happy to discuss your level of alertness within your organization.
The response
/Have an expert team ready
Okay, you've been hacked. It happened… Very annoying. What now? Skilful and timely intervention with a cyber incident can prevent a lot of damage. It’s a reassuring idea that you can just call a number. That is perhaps the greatest value of cyber insurance.
We know the possibilities and have personal relationships with many cyber companies in the Netherlands. We are happy to discuss your specific situation to make the best match with suitable specialists.
Tom Rijgersberg, Practice Leader Cyber (EN)
In my 25 years of ICT, nine were in cyber consultancy. I have asked myself whether you should insure cyber risks because prevention is always better than a cure. But if things do go wrong there is a standstill, and possible claims from third parties. The organization must then jump into action mode as soon as possible. Can you manage that damage yourself? Who do you need to call? What should you do? I believe in a complete solution: prevention, detection and response – supplemented with damage insurance and a team of First Response experts. If Meijers cannot offer the solution, then I would like to refer you to someone else. Transparency, commitment and expertise are essential in cooperation. We’re not pulling a fast one here, and we don't make it more attractive than it is.
Tom Rijgersberg, t.rijgersberg@meijers.nl +31 (0) 6 386 756 13
Frank Oostrum, Account manager (EN)
Getting hit without knowing who's delivering the blow. Critical response time. Preventative measures can have financial consequences, rising rapidly. Desperation. To protect the "crown jewels" I must understand the company’s character. The stories make my work enjoyable. If you want to transfer cyber risks to an insurer, I advise and mediate when the insurance needs are complex. We view an insurance product as part of the solution. The starting point in discussions is a combination of prevention, safeguarding continuity & risk management, with insurance for residual risk as the final piece. That is why Meijers invests in high level expertise and knowledge in the field of cyber risk. We are at your service with a strong team. It starts with a good conversation. You may invite me for that.
Frank Oostrum, f.oostrum@meijers.nl +31 (0) 6 386 756 10
Robert Ockhuizen, Senior Specialist Non-Life Insurance (EN)
I have been a specialist in liability insurance for more than 15 years. In between I was also an English teacher. I love to get to the bottom of things – a real specialist. I find professional liability and cyber interesting. You first need to understand ICT companies technically to be able to make a good risk analysis. The trick is to understand how processes work and to provide insight into the associated risks. That means continuously learning as every company is different and works with different systems. It’s precisely this breadth of ICT that I enjoy. The short lines of communication and the body of knowledge is the reason why clients choose Meijers. I have considerable client contact in which I explain complex matters in regular and easy to understand language. That's the teacher in me!
Rob van Leyen, Senior Account Specialist Liability (EN)
“Many food companies have traditional liability insurance. They often underestimate their own needs. You also want to cover risks that, for example, relate to food safety, right? Or a recall? It’s precisely for these specific ‘food risks’ that few providers can be found in the insurance market. It’s our job to search carefully, to be open to new integrated options and to negotiate them well. At Meijers we like to come up with a complete and preventive solution. What I enjoy most is to draw up a broad risk advice together with our partners. Then we brainstorm about the business processes and a suitable insurance package. I want to know what keeps the client awake because that is when I arrive at the most appropriate advice. As an old hand in the profession (25+ years) I know that this approach works and that it leads to a lasting relationship. Clients feel Meijers’ enthusiasm and the personal approach. That makes my work fun.”
In the news:
Cyber experts have their say
'Internationally, we see that 1 in 5 SMEs is a victim of ransomware ...'