Is an Ethical Hacker Better than Cybersecurity Insurance?

Prevent cyber-attacks before they happen

Over the last twenty years, the number of cyber-assaults has soared sky-high. A cybersecurity breach is one of the biggest scares for businesses today.

The Covid19 pandemic, starting in November 2019, drastically affected cybersecurity for the worse. The current pandemic has lead to a critical change in most organizations. Government restrictions imply enormous amounts of employees and students must work remotely from home. In the long term, businesses across every sector have to adapt to the onslaught of the coronavirus.

The coronavirus has created a potential for an assortment of security issues. For one, accessing work files and completing tasks on personal devices or home networks can be a gamble.

Alternately, staff working remotely from home will use corporate gadgets to do personal activities such as shopping online and doing other transactions. The new normal on online workspaces allow a playing field for criminal hackers to attack and exploit unsuspecting victims.

Many businesses considered investing in cyber insurance because of the heightened amount of cyberattacks brought on by the coronavirus pandemic.

There is a wide range of cybersecurity offerings for organizations to put in place to shield themselves from cybercriminals. However, Cyber insurance is one of the lesser-known and underrated solutions on the market. For instance, in 2019, only 11% of companies purchased cyber insurance policies.

Cybersecurity policies typically cover a business or individual against a particular data breach or hacking attack. These insurance policies categorized as first-party and third-party losses include customers that suffered from the cyber-attack.

The Merck cybersecurity insurance denial has been a deterrence for businesses to purchase cyber-security insurance. Merck billion dollars protection denial after a significant cyber-attack in 2017 still has a negative impact. The breach took down over 30,000 computers and 7,500 servers. Thus, the corporation suffered heavy downtime that impacts future revenue. Nonetheless, the insurance agency managed to avoid paying the claim, citing a breach of the ‘acts of war’ clause.

Additionally, the Merck fiasco highlights the significance of futuristic cyber-attacks a business is likely to experience to ascertain the cyber-insurance policy. Unfortunately, the capabilities of criminal hackers have grown almost immeasurably over the past few years. The dark web provides a haven for cybercriminals to share and access more complex tools and malware, resulting in a multifaceted variety of scams reported each year.

Cybersecurity that prevents hacking has its pros and cons. Without it, companies risk reputational damage when hacking breaches occurred causing customers to lose confidence.

Cybersecurity insurance may be a legitimate contention for cyber-hacking protection; however, a much better and less costly solution is available. Sure, cybersecurity measures can include cyber insurance as an essential part of an integrated security approach. However, it shouldn’t stand alone but used with other integral cyber-security safety systems.

Online businesses have the option of hiring an ethical hacker to prevent a cyber attack from infiltrating their database. Working with a cybersecurity company can create preventative measures that regularly check for security breaches and quickly plug them.

For businesses to be as safe online an ethical hacker is their best solution. Ethical hackers are trained and certified to ward off the attacks of criminal hackers, before they get the chance to cause severe damages to any corporation.

Website owners must change their views of ethical hackers when cybersecurity for their organization is at risk.

No doubt, cyberattacks will massively increase in 2021. The Covid19 pandemic makes an attack a daunting reality that can happen at any minute.

For your business’s prosperity, hiring a certified ethical hacker will make the vast difference of surviving a crippling cyber-attack.