Why a cyber security analysis is essential for companies and how financial experts like Vincenz Klemm from Baobab Insurance can support you.

Why a cyber security analysis is essential for companies and how financial experts like Vincenz Klemm from Baobab Insurance can support you.

According to a report by www.versicherungsbote.de, cyber security analysis is crucial for companies to protect themselves against the growing threat of cyber attacks. The analysis helps companies identify and close their security gaps to reduce the risk of a successful cyber attack. In particular, the company's insurability is directly related to the security standards determined. A well-conducted cyber security analysis can help companies find tailored cyber insurance policies that meet their individual needs.

According to current findings, the biggest problem for SMEs is ransomware attacks, which lead to business interruptions and loss of revenue. Companies therefore urgently need to create usable backups of company data and test them regularly. The frequency and usability of backups are crucial to minimizing the duration of business interruption in the event of a cyber attack.

Furthermore, many cyber insurance providers place particular emphasis on the industry in which the company operates. Some view certain industries as particularly risky. However, Baobab Insurance has developed a differentiated approach and prioritizes cyber security itself. The industry is weighted differently compared to other aspects.

Overall, a sound cyber security analysis is essential to help companies improve their cyber security and protect themselves against potential cyber threats. By identifying security vulnerabilities and prioritizing actions, companies can increase their insurability and rely on informed recommendations from insurance brokers to obtain tailored insurance coverage.