KnowTechTalk · 2024-04-23 · 19 min
A ransomware attack occurs every 14 seconds. Cyber attacks occur once every 39 seconds. The average ransomware attack costs a company $170,000! Does your business need cyber insurance? Is cyber insurance really worth the investment? What is a cyber warranty? Barb speaks with Nick Wolf, part of Cork's Leadership Team about Cyber Warranties. 0:00 - Barb's Introduction 1:21 - Who are Nick Wolf and Cork ? 2:05 - Why would a business need supplemental cyber insurance coverage, as opposed to regular cyber insurance? 4:50 - What gaps does the cyber warranty fill in for an MSP's customers? 5:22 - Since there is no software or hardware to install, what are the requirements for coverage? 10:27 - How does a payout impact an MSP's premium, or is each MSP's customer's premium calculated independently? 11:07 - What does the payout cover if there is a request for compensation following a breach, fraud or cyber crime? 12:33 - Do businesses need cyber insurance if they have an incredibly awesome MSP taking care of their networks, and have a cyber warranty in place? 14:14 - What is the most important thing Nick has ever learned? This podcast has been
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