Friday, 10 June 2016

Why I Chose This Cyber Insurance Broker

I started my company in the summer of 2002 and we have had quite an amazing journey since its inception. Among the successes, we have had several setbacks that should have shaken us but we were able to recover. Although at the time I was fully aware of the cyber-attacks gaining momentum, I really did not pay much attention to it because I had invested a lot in security. With time I decided to get Cyber insurance policy just in case of any unforeseen events.

Sometime in 2011, I was awoken with a call from the head of my data security department of a possible data breach and hack. Luckily for us, we just lost a couple of data even though they were valued at about $250,000. When I contacted my cyber insurance broker, it took me almost 3 months to realize they were never actually going to pay for the damages. I too got tired with their explanations and bureaucracies and gave up. I was later introduced to the Greater National Group by a very dear friend and got the company insured in less than two weeks. Filling the paper forms was never tedious and I had a Cyber insurance professional assigned to me to answer all of my many questions.

We had a breach again around October of last year and the company sent over some professionals to assess the damage. The company paid for it all without any hassle.

No comments:

Post a Comment