Cyber insurance loopholes leaving your businesses exposed

A recent article I read may be of interest to you. It says you may not be able to claim against a cyber security insurance policy when your software is not up to date.

You have out of date software if you see either of the two icons below, but there are many other software packages without obvious signs to look for.

Fortunately this is not a problem for my customers as we bundle Ninite Pro with our maintenance service.

Ninite is used to patch and secure the software of Pepsi, NASA, Sony, Harvard Business School, the City of Melbourne, Lockheed Martin and thousands of other organizations, including ours.

If you provide us a list of all software and versions on your computers, we will reply with a confidential, no obligation list of problems that may prevent you from claiming against your insurance.

If you are unable to get that list, unfortunately that’s an entirely different problem and almost a guarantee any cyber insurance you have is worthless.

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Earler this week, Levitas Captial was forced to close following a major cyber attack, resulting in their major client withdrawing their funds.

This should stress to all businesses out there that an antivirus and a firewall is not sufficient against cybercrime. Appropriate funds transfer protocols, incident response plans and cybersecurity awareness training should be at the top of every businesses list for this coming 2021.

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