November 21, 2019 @ 8:30 by Steven Hugill
An insurance broker says it has unveiled a pioneering product to support businesses during a cyber-crime attack.
Erimus has developed ProCyber alongside insurance provider Hiscox.
Bosses say the apparatus is capable of protecting businesses of any size that experience a data breach or malicious hack.
Developed to improve processes and systems for clients, officials say it is pioneering in its use of technology in the insurance market.
Organisations are provided with IT forensic consultants to lock down a breach and prevent any further losses, and a legal team to manage any breach notifications.
Furthermore, a PR team manages publicity surrounding an incident, in addition to the cost of any lost earnings due to system downtime.
ProCyber also offers access to Hiscox’s CyberClear Academy, an online training platform that allows businesses to ensure all members of staff are ‘cyber aware.’
Ian Miller, sales director at Teesside-based Erimus, said: “We were delighted to work with Hiscox on this product, which is something more and more businesses require in this ever more digital era.
“Cyber criminals are opportunistic and persistent, continually looking for the chink in your virtual armour.
“Without this type of insurance, businesses suffer significant costs arising from data breach, including lost business, regulatory investigations, customer communication, data asset losses, court fees and settlements,” added Ian.
“Unfortunately, even the most diligent of employees can be duped into clicking or downloading malware or paying bogus invoices.
“If a breach does occur the only option is an expensive team of private consultants.
“ProCyber offers a high level of reassurance for businesses, ensuring that a customer is supported from the moment a breach occurs through our team of experts and helping to prevent these types of attacks from taking place.”