Safe Bet?
By
Jacquelyn Lynn
Last year, Citadel Security Software introduced the
industry's first security software performance warranty. Backed
by insurance giant American Inter-national Group, Citadel
guarantees security content updates within 4 hours. If it fails to
meet that commitment and a customer's computer network is
attacked, the warranty will reimburse customers for related losses
up to the amount of the software contract.
Cybersecurity expert Christopher Faulkner, founder and president
of CI Host, a
web-hosting and data center management company in Dallas, thinks
software insurance is a bold and innovative idea, but says
customers need to understand exactly what they're getting in
terms of both the software and the coverage. "Don't just
buy a package because it has insurance," he says. "Make
sure you're getting a package that fits your specific needs and
that you clearly understand the terms of the insurance, the
liability the company is willing to accept, and what you'd have
to do to activate an insurance payout." Also, don't depend
exclusively on the product warranty to compensate you for losses.
Instead, Faulkner says, be proactive by keeping your software
current, backing up your data, and implementing other online
security and data protection procedures.