Baloise has launched a cyber insurance for corporate clients. It will help smaller companies save money and reduce their risks.
The Swiss insurer so far has offered insurance against cyber risks for private clients – now Baloise launches a similar product for small- and medium-sized companies, it said in a statement on Tuesday. The insurance policy includes data protection, investigation into the reasons for the loss of data and the recovery as well as the costs of an interruption of business.
Baloise has designed the product specifically for the needs of the smaller companies, which can’t afford to employ their own IT security experts.
The importance of cyber security was shown by the findings of a KPMG study, according to which 88 percent of the surveyed Swiss companies had fallen victim of a cyber-attack in 2017. Of the total number of victims, 56 percent suffered an interruption of business.
