Watch: The cyber insurance form. Are spending more, the same, or less than last year on cyber security?
One area that often comes up and is quite interesting on a cyber insurance application form is the question of do you intend to spend more, the same, or less this year on cybersecurity?
This is a really interesting question for a smaller business, because having a separate budget to your IT support for cybersecurity is a really important first step to tracking return on investment and how effective your cybersecurity is when it comes to spending money.
Knowing what you're spending and what it will do for you is a really, really key area on cyber as opposed to throwing money into a big black hole or even worse, having IT support and services getting blended and muddled up together.
What's really interesting that the insurance companies are using this question, 'are you spending more, the same or less' as one of the key metrics to determine how secure you are as a business and how secure you're going to be.
When it comes to that cyber insurance form, something we help our clients with is understanding what those questions really mean and how they might apply to you.
If you want to have a no obligation chat about your business security risks, get in touch below.