Insurance appraisals for cyber risk damages
The cyber risk damages
Cyber risk or cyber risk is the risk associated with the handling of information in a company’s computer system (database, hardware, software) that is compromised, stolen, or deleted due to random events or malicious activity (e.g., hacker attacks).
Acting as a wake-up call, the average time to detect a breach is usually very long, 200 days on average. Thus, cyber risk is a specific risk that can affect companies in different ways. Therefore, it must be addressed systematically and with a well-defined prevention and mitigation strategy.
The insurance expertise for cyber risk damages
Insurance expertise for damages resulting from the occurrence of events related to cyber risks is a very complex process involving on the one hand the verification and analysis of the damaging event, and on the other hand the analysis of the specific clauses of the insurance policy taken out by the damaged party.
Since damages on computer systems are always events involving very complex technical means and having at their base very complex actions to be analyzed, insurance appraisals for cyber risk damages almost always require highly qualified appraisers and computer technicians.
In addition, this type of expertise aims not only to quantify the damage done to data and computer systems but also to estimate the collateral damage resulting from any business disruptions that, seeing their data and computer systems compromised, are no longer able to operate.
Novires experience in insurance appraisals for cyber risk damages
Novires can handle any damage case on data and computer systems competently and quickly thanks to its team of experienced insurance adjusters and its network of skilled IT technicians.
Both the appraisers on the Novires team and the technicians they use, for cyber risk damage insurance appraisals, do continuous training to keep up with the new technological means and systems used by companies and individuals to process, store and transfer computer data.