What does cyber insurance have to do with Black Friday?

Cybersecurity during Black Friday season: How Baobab Insurance helps

Black Friday and Cyber Monday mark the hottest shopping days of the year, when consumers chase discounts and retailers generate huge sales. But this increased activity not only attracts bargain hunters, but also cyber hackers. Cyber attacks during this time can have disastrous effects on (medium-sized) companies. Baobab Insurance provides effective cyber protection with a Cyber Insurance and Cyber Security Measuresto support companies in this critical phase.

Cyber attacks on Black Friday: A growing risk

During Black Week, companies are increasingly exposed to cyber attacks. DDoS (denial of service) attacks are particularly common, in which cyber hackers overload the IT infrastructure by artificially generating high traffic to websites and data centers. According to the Federal Office for Security and Information Technology (BSI), the average duration of such an attack last year was 3,000 minutes — a significant increase over the previous year. The consequences of such attacks on Black Friday or Cyber Monday are immense sales losses and long-term loss of customers.

Ransomware attacks represent another serious risk. In these attacks, hackers encrypt a company's data and demand a ransom to release the data again. Companies that fear high sales losses are particularly vulnerable to such ransom demands.

Baobab Insurance: Your Partner for Cyber Security and Cyber Insurance

Baobab Insurance provides comprehensive cyber protection to protect your business against the threats of the Black Friday season. Our cyber insurance not only covers the financial losses caused by cyber attacks, but also offers proactive security measures.

Risk Scan and Partner Network (including Partners for Password security, backup Automation or the Managing access rights): With our risk scan, companies can review their cybersecurity and identify potential vulnerabilities. If vulnerabilities are found, Baobab Insurance will discontinue Partner Network available to address these vulnerabilities and increase cybersecurity.

Incident Response and Computer Forensics: In the event of a cyber attack, Baobab Insurance offers a Incident Response Service, which is available 24/7. IT experts analyse the incident, identify the attack vectors and implement appropriate measures to limit the damage. Our Incident Response Managers work with Computer Forensics Companies to identify the attackers' entry point and eliminate the vulnerabilities.

Financial security through cyber insurance

In the event of a business interruption, Baobab Insurance's cyber insurance covers the losses incurred. Should cyber extortion occur, the insurance company will cover the extortion money, provided that it is necessary and appropriate. As a result, Baobab Insurance not only offers cyber protection, but also financial security and support in crisis situations.

Baobab Insurance is the reliable partner for companies that want to protect themselves against cyber attacks during the Black Friday season and beyond. With our comprehensive cyber insurance and proactive security measures, insurance brokers and their customers can enter the busy season with peace of mind with cyber insurance and focus on what's important — their success. Here Can you read more reasons why cyber insurance pays off strongly in the brokerage portfolio.