For the past few years, cybersecurity experts have been ringing the alarm bells about the threat of hacking, and the need for data protection. Now, concern has trickled down to the general public and insurance companies are taking notice.
"Whenever you see a lot of news about something that is a risk, you usually see insurance companies trying to jump on that," stated Robert Hunter, director of insurance at the Consumer Federation of America.
U.S.-based insurance provider American International Group Inc (AIG) is now offering products to shield consumers from hackers and cybercriminals.
According to Reuters, AIG is releasing a new product that provides financial coverage for victims of cyberextortion (like ransomware) and online bullying. The solution is called “Family CyberEdge” and it also provides access to legal and PR services for customers. Family CyberEdge also offers at-home consultations for family electronics devices.
Business owners should take heed of this announcement.
If consumers are spending money on cybersecurity protection, every company should be following suit. It doesn’t make sense to wait until after a cyberattack to fortify your network. And as we say repeatedly, it’s not a matter of if—but when—your company will get hit with a cyberattack and so your business needs to be ready.
Here at Apex Technology Services, we can provide onsite consultations for everything from data center management to mobile device management. We can also provide cybersecurity awareness and education for employees, to help bring them up to speed about the digital threat landscape.
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