Cyber Insurance

A dramatic uptick in cyber attacks.

Recently, there has been a dramatic uptick in cyber attacks both nationally and on local Wisconsin businesses. This affects businesses large and small. The hackers do not distinguish who they attack - and the impacts are devastating organizations.

And there's more at stake than just the initial breach. The downstream ramifications can be costly! The hackers could now have access to any individual, vendor or firm that is in your system. Learn how our cyber experts can help your business understand your cyber risk and start creating an action plan for those risks.

Business Cyber Threats

Viruses & Malware: A computer program implemented by threat actors to gain unauthorized access, steal data, or cause damage to computers, computer networks, or other computing systems.
Cyber Extortion & Ransom: An event where cybercriminals lock, disable, or compromise the operations or data of an organization and their systems, and subsequently request payment to reverse the effects of their actions.
Data Breach: A security violation in which sensitive, protected, or confidential data is copied, transmitted, viewed, stolen, and/or used by an individual that is unauthorized to do so.
Identity Theft & Social Engineering: Fraudulent activities such as theft, deception, and manipulation that result in access to sensitive information, impact to credit history, even significant financial damage and loss.
Invoice Manipulation / Misdirected Payment Fraud: One of the most effective cyber attacks organizations face is receiving an electronic bill or request for payment change from a known vendor with payment details to a fraudulent account. The payment is made and the attack isn't discovered for weeks.
Social Media Attacks: The use of social media to attack, disparage, and/or harm an organization by releasing sensitive information, creating fake accounts, sharing doctored images, and more, with the intent of causing reputational damage.

R&R's Two Step Approach

Sharing cyber security Best Practices is a given for the R&R team, but our unique value is to build or assist in developing your organization's Cyber Continuity Plan and back it up by going to market for Cyber Insurance.

Customize your organization's Cyber Continuity Plan: If your organization were hit by a cyber attack, who would you call first? Having a plan means you've defined the role of vendors, trained staff on best practices, conducted mock attack tests, held regular meetings with your IT team among many other best practices. R&R will work with your team to ensure the right plan for your organization is in place.

Back up your defense with Cyber Insurance: R&R Insurance began seriously developing its Cyber Division in 2018. The foundation of this division was solid relationships with the top cyber insurance carriers. Rapidly rising costs and a growing list of exclusions means organizations need a well informed agency to find the right coverage.

The total average cost to recover from a ransomware attack was $1.85 million in 2021. Besides the actual ransom request, reputational and internal costs can be just as relevant.

A dramatic uptick in cyber attacks.

Business Cyber Threats

R&R's Two Step Approach

Have Additional Questions on Cyber Insurance?