I know we haven’t had Christmas yet, but many business owners use part of December to make plans for the new year, so it’s the perfect time to set meaningful resolutions for your business. Here’s a vital one: make 2025 the year you take a serious look at your cyber security. Specifically, it’s time to review your insurance and supplier/client contracts to ensure you’re meeting any cyber security requirements. We have just helped two clients with this, one who discovered an unexpected clause in a supplier contract, and another who had a requirement in their business insurance.
Cyber security matters more than ever! In today’s world, cyber threats aren’t just a risk; they’re a reality. From ransomware to phishing attacks, every business, regardless of size or sector, is a potential target. Beyond the direct impact of an incident, there are increasing requirements for businesses to have robust cyber security measures in place, for example business insurance providers may now require proof of specific cyber security standards to provide coverage. Equally, contracts with clients and suppliers need to be reviewed, as partners often expect a minimum level of security compliance to ensure that doing business with you doesn’t expose them to unnecessary risk. Failing to meet these requirements could mean losing out on key opportunities or being unable to claim on your insurance if the worst happens.
Act now! Take a proactive step this January to review your insurance and any supplier or client contracts. Look out for any clauses or requirements relating to cyber security. If you spot specific security obligations, don’t panic – we’re here to help, as we’ve got you covered.
At Octagon Technology, we can provide a cyber security policy to ensure you’re covered right away. However, we don’t stop there. Compliance isn’t just about having a policy; it’s about making sure your systems are up to scratch and comply. That’s why we can follow up with a detailed audit to identify any gaps and help you meet the standards set by your policy and contracts.
Start 2024 right! Making cyber security a priority isn’t just a resolution for the New Year – it’s an investment in the future of your business. Secure your coverage, meet your contractual obligations, and protect your reputation by taking action today.
If you’re ready to get started or need advice, contact us for a no-obligation chat. Together, we can review your insurance and contracts, and ensure that your business stays secure, compliant, and ready for whatever 2025 may bring.
Diana Catton – by-line and other articles
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