If your organisation has a website, stores customer or staff data or finances, cyber insurance is no longer a luxury, but a necessity. It’s essential to realise that simply having a cyber insurance policy isn't a golden shield. To fully validate certain policies and reduce potential for claim refusal, Security Awareness Training (SAT) is critical. It's not just about having a safety net; it's about making that safety net stronger and more efficient.
“Cyber security standards are the digital locks to your organisation's data. Just as home insurance won't cover a theft with an unlocked door or substandard locks, your cyber insurance may fall short if your cybersecurity practices aren't up to par.”
If you think that cyber insurance is exclusive to tech giants or IT businesses, think again. Any organisation that utilises digital tools and has an online presence — which let’s face it, is virtually every organisation — stands to benefit from cyber insurance. From small businesses to multinational corporations, non-profits to government entities, cyber insurance is a critical investment for any organisation that values its digital safety and reputation. No organisation is too big or small to be a target for cyber criminals, and with all the recent high profile breaches, being a large company with a dedicated IT and security department is still not enough.
Cyber insurance doesn't just cover the cost of data breaches*. It can protect against a wide range of cyber incidents, including ransomware attacks, business interruption, data loss and recovery, privacy liability, and more. Some policies also offer coverage for the costs related to legal consultations, public relations campaigns, and notifying affected parties — all necessary steps following a major cyber incident. But to ensure this coverage holds strong, Security Awareness Training is key.
“Remember that cyber insurance isn’t a substitute for cyber defences and training, it’s complimentary to it.”
Low cyber hygiene isn't just a bad habit — it's a high-stakes gamble. Poor cyber hygiene can lead to policy refusals, higher premiums, and worst of all, devastating data breaches that can damage your organisation's reputation and bottom line. Security Awareness Training, therefore, isn't an option — it's a necessity. The great thing about investing in cyber awareness training is that by empowering your team with the knowledge and skills to navigate the digital world safely, you're not just strengthening your defence — you're protecting your organisation's future and instilling a culture of security.
*Not all policies are the same, and not all policies claim procedures are the same. Please read and understand your individual policy to understand what your obligations are.