Companies have a wide audience of the risks they face in their entrepreneurial action, but not all are subject to insurance coverage.
Companies more structured sized and have within them a figure in sharp rise in recent times, the risk manager, whose task is to identify and analyze potential risks they may run the company and establish response strategies. The areas of risk can be physical or legal nature and range from safety at the workplace to compliance with the supervisory rules which subjected the company.
A new branch of risk management is information security, today being the hacker attacks among the most common and widespread threats. The insurance industry has established the policies of cyber security, insurance coverage, for example, help the company victim to bear any damage caused to third parties for which it is civilly liable. This may be legal costs, costs to notify consumers about data breaches that led to the release of private information, costs of replacement of pre-attack situations or to provide credit monitoring services, for costs public relations and advertising campaigns to rebuild the company’s reputation.
Some policies may also get to cover the liability of directors and business managers or business interruption resulting from an attack that may reduce revenue, as well as the losses suffered by so-called ransomware attacks, through which hackers realize a de facto ‘ extortion, disturbing or threatening blackouts of systems of a company if you do not pay a sum of money.
Meanwhile, from next May 25 it will be permanently applied to the general rules on data protection or GDPR (General Data Protection Regulation), the regulatory response desired by the European Commission to better protect the privacy of EU citizens.
In Italian companies it is therefore growing awareness of the importance of security and privacy management and also the allocated budget are increasing. But be more vulnerable to cyber threats are still small and medium-sized enterprises, at present, are divided only a small proportion of spending on information security solutions. The investigating agency in this context can be a valuable support for a company, especially in the management and prevention of crisis situation, through specific methodologies and tools.