As independent agents , and advocates for our customers , we can combine our cybersecurity knowledge with our risk management expertise . This will serve to help protect our customers from the financial consequences of a cyber-attack , just like we do for all of the other risks they face . •
FROM THE PRESIDENT
PROTECTING CLIENTS IN THE FACE OF EVOLVING TECH written by Kevin J . O ’ Brien , KAIA President , The Reilly Co .
There ’ s no question that technology has transformed every aspect of human life from communication and healthcare to commerce and entertainment . Over the past few years , there ’ s been a rapid evolution of technology that businesses are becoming more dependent upon . The Internet of Things , Artificial Intelligence , and cloud technology bring remarkable benefits that help businesses increase marketing efforts , attract customers and improve efficiency in their operations . But these advances also create more risk and uncertainty for everyone .
Furthermore , the advancing sophistication of cyber criminals and the changing geopolitical landscape with multiple targets pose threats to organizations all around the world . Because of this , organizations are even more vulnerable to cyber-attack , making cybersecurity an ever more pressing issue . That ’ s where we come in . from the insurer , can provide valuable pre-loss recommendations such as ; improving encryption of data , implementing multi-factor authentication , downloading regular software updates , and promoting employee cybersecurity training . We can also , and most importantly , provide post-loss help with navigating the claims process for these cyber policies , helping our customers as they deal with the aftermath of an attack .
As independent agents , and advocates for our customers , we can combine our cybersecurity knowledge with our risk management expertise . This will serve to help protect our customers from the financial consequences of a cyber-attack , just like we do for all of the other risks they face . •
Most of us have certainly read about , if not seen firsthand , the threats to our customers like data breaches , malware including ransomware , social engineering , denial of service , and phishing attacks . To combat these risks , we can play a critical role in helping our customers understand , manage , and mitigate risks related to these threats .
Just as we do for other exposures our clients face , we ’ re able to offer an effective solution through cyber insurance policies that can provide coverage for losses resulting from cyber-attacks . Coverage can include data recovery costs , legal fees , liability from data breaches , business interruption , and even contingent business interruption ( which addressed the recent CrowdStrike outage affecting many businesses ). These policies also usually come with cybersecurity assistance from the insurer . So , we , with assistance
36 KANSAS INSURANCE AGENT & BROKER