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Is your business well-positioned to deal with Cyber risk?

At this point, the publicity surrounding the increasing frequency of cyber intrusions has captured the minds of business owners and government officials. It’s also got the attention of banks and lenders because they want to ensure the ongoing viability of their clients in dealing with business and other risks. Since they utilize the independent ratings companies in making and overseeing their loan portfolios, the latest pronouncement from S&P Global Ratings will generate more ripples throughout the lending community.

“At S&P Global Ratings, we have seen more credit-relevant cyber events in the last six months than in the previous six years, and we routinely reflect on recent cyber developments to sharpen our focus and to help us refine our forward-looking credit views.”

It makes sense that the ability to recover from a cyber attack is increasing in its importance in the criteria that lenders use. Businesses need to take every available reasonable preventative measure. Yet we know that the possibility of a cyber intrusion is still very real. And just as with other perils that businesses face, insurance now plays an important role in transferring cyber risk.

Are you aware of what your commercial insurance policy provides in regard to both protection and recovery? Several insurance companies have stepped up their “crisis recovery team” capabilities to help track down and recover lost funds. Navigating the terms and policy limits–and reviewing the insurance companies’ own resources–is what we do to help clients arrive at an approach that fits their needs and budget.

At Team & Total Insurance Solutions we take the time to learn our clients’ businesses and stay abreast of their evolving needs. So let’s have a conversation. Contact Dave Evans, Senior Director, at: or 201.701.8888.