Cyber Insurance and Consulting

Every organization, regardless of industry, has added or expanded their technology integration - so they can be more efficient, give their customers the experience they expect, and grow their business. As a result, every organization is more vulnerable to cyber threats. This is an unfortunate reality many businesses must face: It’s no longer a matter of “if” your business may experience a cyber incident, it’s a matter of “when.” Are you prepared?

In today’s landscape, we’re seeing cybercriminals get more sophisticated, increasing risk for the companies they target. This can damage your reputation, put your customers, clients, and employees at risk, and devastate your balance sheet.

In fact, cyber incidents can be extremely costly: The Poneman Institute’s 2021 data breach report found the average total cost of a data breach in the U.S. is $9.05 million. If your budget does not have room for an unexpected expense of this magnitude, you should strongly consider obtaining a cyber insurance policy.

Every company in every industry has their own unique cybersecurity needs. At Graham we understand that there isn’t a one-size-fits-all solution. As part of the P²RIME® process, we dive deep into your company’s cyber risk and help you build a proactive risk management plan that includes improving ransomware controls, calculating risk transfer limits, providing insurance coverage, education, and consulting. When you partner with us we can help you:

 

Evaluate Your Needs
We work with your IT administrator or department to understand potential exposures from an enterprise-wide standpoint and leverage data breach calculators and benchmarking platforms to analyze your risk profile.

Obtain Cutting-Edge Insurance Solutions
We work with the top carriers in the insurance marketplace to ensure your cyber coverage is broad in scope and best in class. We are consistently evaluating the cyber insurance market to identify new coverage enhancements and stay abreast of the changing landscape.

Mitigate Loss
To support our clients’ cyber risk management needs, we continue to identify areas for loss mitigation. We work with our carrier partners to strengthen your cyber hygiene through preparation and prevention efforts, thus lowering your risk profile.

Build an Incident Response Plan
Our goal is always to get our client’s organization back up and running as quickly as possible. To do this, we collaborate with our client’s IT administrators to ensure an appropriate incident response plan is in place and key stakeholders understand what to do in the event of a cyber incident.

Manage Claims
In case of a cyber incident, our professional claims management team is prepared to assist you with every aspect of the claims process to ensure you receive the coverage you are entitled to as part of your policy.

Educate Your Employees
Our team keeps up with the ever-evolving cyber marketplace and provides ongoing education and training to our employees and clients about emerging threats, claims trends and new technologies to combat incidents.

 

Cyber policies also include business interruption insurance in case a cyber incident impacts the service of your network or a network you rely on to do business. We understand that every moment is valuable to your business and work diligently to ensure our clients are properly compensated when revenue is lost due to a cyber incident.

Simply put, any organization that connects to the internet or maintains personal information should have cyber insurance." 

- Margaux Weinraub, Cyber Practice Leader, Graham Company