Ep. 93 – Cyber Safe or Sorry: Navigating Insurance and Warranties in Digital Defense with Nick Wolf from Cork

KnowTechTalk

A ransomware attack occurs every 14 seconds. Cyber attacks occur once every 39 seconds. The average ransomware attack costs a company $170,000! Does your business need cyber insurance? Is cyber insurance really worth the investment? What is a cyber warranty? Barb speaks with Nick Wolf, part of Cork’s Leadership Team about Cyber Warranties.

0:00 – Barb's Introduction

1:21 – Who are Nick Wolf and Cork?

2:05 – Why would a business need supplemental cyber insurance coverage, as opposed to regular cyber insurance?

4:50 – What gaps does the cyber warranty fill in for an MSP’s customers?

5:22 – Since there is no software or hardware to install, what are the requirements for coverage?

10:27 – How does a payout impact an MSP's premium, or is each MSP’s customer's premium calculated independently?

11:07 – What does the payout cover if there is a request for compensation following a breach, fraud or cyber crime?

12:33 – Do businesses need cyber insurance if they have an incredibly awesome MSP taking care of their networks, and have a cyber warranty in place?

14:14 – What is the most important thing Nick has ever learned?

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