Insuring Against IT and Cyber Risks
Key Points at a Glance
- Cyberattacks and data breaches cause significant economic damage.
- Our Palatina cyber insurance protects you from financial consequences.
- Including IT forensics, data recovery, crisis communication, and legal protection.
- Customizable for small, medium, and large businesses.
- The perfect complement to electronics insurance for devices and systems
Digital Security as a Strategic Priority for Businesses
Cyberattacks have long been a part of everyday life—even for medium-sized and large companies. Whether it’s extortion via ransomware, data theft, or the failure of entire IT systems, the financial and operational consequences are severe.
With Palatina’s cyber insurance, you can protect your business specifically against the financial risks of digital attacks—from prevention to claims processing.
Why is cyber insurance essential today?
The increasing digitization of business processes opens up opportunities, but it also creates new vulnerabilities. Cybercrime is evolving rapidly, and attack methods are becoming more complex—and they are no longer limited to the IT department.
Typical risk scenarios:
- An external attack encrypts data (ransomware).
- Confidential customer data is being accessed or disclosed.
- IT systems go down, disrupting supply chains.
These incidents not only result in direct costs, but also damage to a company’s reputation, legal disputes, and business interruptions. Our Palatina cyber insurance protects you against these risks and supplements traditional electronics insurance with targeted digital risk coverage.
What does our Palatina cyber insurance cover?
Unsere Palatina bietet sowohl Basisschutz als auch modulare Erweiterungen – vom Mittelstand bis zum Konzern, das speziell auf Unternehmensgröße, Branche und IT-Infrastruktur zugeschnitten ist. Ziel ist, Risiken umfassend abzusichern und im Schadenfall schnell handlungsfähig zu bleiben.
Overview of Services:
- Coverage for Cyberattacks (e.g., ransomware, hacking, phishing)
- Compensation for business interruption costs resulting from IT outages
- Protection in the Event of Data Loss or a Data Breach
- Coverage of forensic, legal, and crisis communication costs
- Reputation and PR Measures to Mitigate Damage
- Defense against Unjustified Claims by Third Parties (Passive Legal Protection)
Our experts will work with you to analyze which risks actually affect your business—and design coverage that fits your specific operational reality.
Real-world example: Attack on an architectural firm
Ein mittelständisches Architekturbüro wurde Opfer eines Phishing-Angriffs. Alle Projektdaten wurden verschlüsselt, der Betrieb stand still.
A medium-sized architecture firm fell victim to a phishing attack. All project data was encrypted, and operations came to a standstill.
FAQ on Cyber Insurance
Why is cyber insurance necessary for businesses?
Because traditional property and liability insurance policies do not cover digital risks. Our Palatina cyber insurance provides targeted protection against IT damage and attacks.
What types of losses does cyber insurance cover?
Costs for data recovery, business interruption, IT forensics, public relations measures, and claims for damages—depending on the agreed-upon coverage.
How does insurance help in an emergency?
Once the incident is reported, the 24/7 crisis response service is activated. IT forensic experts analyze the attack, restore systems, and limit further damage. The goal is to quickly restore business operations and minimize legal risks in order to preserve reputation and trust.
Do our own employees also pose a risk?
Yes. Many incidents result from user error, phishing, or social engineering. Our Palatina solution offers prevention and awareness modules to minimize risk.
How quickly does insurance coverage take effect in an emergency?
Immediately after the incident is reported. A crisis response team comprising IT forensics, legal, and communications experts is on standby around the clock.
How do you determine the right insurance coverage?
Experts analyze your IT infrastructure, data usage, and business processes to determine a realistic, robust level of security.
How do I file an insurance claim?
Via the 24/7 hotline or the online form. IT specialists respond immediately and coordinate all necessary actions.
How much should the coverage amount be?
That depends on your IT infrastructure. Our Palatina recommends conducting a risk analysis before signing the contract.
Is cybersecurity protection also worthwhile for small businesses?
Ja, insbesondere kleine Betriebe sind häufig Ziel von Angriffen, da sie seltener umfassend geschützt sind.
Managing Director
Tel. 06233 51190-36
Fax 06233 51190-69
borris.yauschew@palatina-service.com
Tel. 06233 51190-36
Fax 06233 51190-69
borris.yauschew@palatina-service.com
Borris Yauschew
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Senior Advisor,
Kundenbetreuer Konzerne und Unternehmensgruppen
Tel: 06233 51190-22
gabriel.kirsch@palatina-service.com
gabriel.kirsch@palatina-service.com
Personalized advice. Individualized support.
If you ’re looking for a reliable partner for all your IT and cyber insurance needs, Gabriel Kirsch is here to provide expert guidance. Together, we’ll analyze your specific needs and develop tailored solutions—transparent, easy to understand, and on equal footing.
Get in touch with us
At Palatina, we’re committed to providing personalized service—and that starts with your very first contact. Whether you have a specific inquiry or would simply like to learn more with no obligation, we’ll take the time to address your needs and work with you to find the best way to move forward.