Cyber Risk📖 10 min read▼ Printable checklist

Cyber Risk
Self-Assessment — Guyana

68% of Caribbean SMEs experienced a cyber incident in the last two years. Most had no insurance. This self-assessment helps you understand your current exposure, identify the most critical gaps, and decide whether cyber risk insurance is right for your business.

How exposed is your business?
10-question self-assessment
What each answer means
Recommended next steps
What cyber insurance covers
Common Caribbean cyber incidents

Section 1How exposed is your business?

Every business that uses a computer, stores customer data, or processes payments online has cyber exposure. The question is not whether you could be attacked — but whether you would survive it financially.

Your business is particularly exposed if it

Stores customer personal data names, addresses, payment details, medical records
Processes online payments or handles payment card data of any kind
Uses cloud services email, file storage, accounting, CRM — all create exposure
Has multiple employees with computer access each additional user is an additional attack surface
Relies on digital systems for operations if a system failure stops your business, you have business interruption exposure
Operates in the financial, healthcare, or energy sector these are primary targets in the Caribbean
Works with external contractors or suppliers third-party access to your systems creates additional risk

⚠ 68% of Caribbean SMEs experienced a cyber incident in the last two years. The average cost of a data breach is USD $4.2M. 94% of uninsured businesses do not survive a major ransomware attack. These are not distant risks — they are happening to Guyanese and Caribbean businesses today.

Section 210-question self-assessment

Answer honestly. Each question identifies a specific exposure that cyber insurance can address.

Question 1: Do you store customer personal data?

If yes: you have Data Breach Liability exposure. If that data is compromised, you may be legally liable to notify affected individuals and face regulatory investigation.

Question 2: Do you process payments online or store card data?

If yes: Payment Card Industry (PCI) breach exposure. Card data breaches are the most common and most costly cyber incidents for Caribbean SMEs.

Question 3: Have your employees ever received suspicious emails?

If yes: Your business is already a target. Phishing emails are the entry point for over 90% of all ransomware attacks.

Question 4: Could you operate for 72 hours without access to your computer systems?

If no: You have Business Interruption exposure. Ransomware can lock all your systems with a single click.

Question 5: Do you back up your data regularly and store backups offline?

If no: A ransomware attack could result in permanent data loss. Regular offline backups are the most effective single defence against ransomware.

Question 6: Do employees access your systems from personal devices or home networks?

If yes: Personal devices and home networks have significantly lower security standards than business networks. Each represents a potential entry point.

Question 7: Have you ever transferred funds based on an email or phone instruction?

If yes: Social Engineering / Funds Transfer Fraud is your most immediate exposure. A convincing impersonation of a supplier or executive can result in significant fraudulent transfers.

Question 8: Do you use cloud-based email (Gmail, Microsoft 365, etc.)?

If yes: Business Email Compromise — a criminal taking control of your email account — is a primary attack vector. Most cloud email accounts can be compromised without two-factor authentication.

Question 9: Do you have a written plan for what to do if you are attacked?

If no: The first hours after a cyber incident are critical. Without a plan, businesses waste time and make decisions that worsen the outcome. Cyber insurance often includes incident response as part of the policy.

Question 10: Could your business afford USD $50,000 in immediate costs from a cyber incident?

If no: Cyber insurance exists precisely for this situation. Investigation costs, legal fees, customer notification, and business interruption costs all arrive at once.

Section 3Recommended next steps

If you answered "yes" or "no" to any of the critical questions above:

Immediate steps (no cost)

Enable two-factor authentication on all email accounts, cloud services, and banking platforms — today, before anything else
Review backup procedures ensure daily backups are made and stored offline or in a separate cloud environment
Staff awareness brief employees on phishing emails — most attacks begin with a single employee clicking a link
Document your systems make a list of all the systems your business depends on and who has access

Contact your broker

Risk assessment we will conduct a brief cyber risk assessment specific to your business and industry
Coverage recommendation we will recommend the appropriate level and type of cyber insurance for your exposure
Market comparison we approach all available cyber insurers in Guyana and the international market
February 2026 seminar register interest for our Cyber Risk Seminar for Guyanese business owners

ⓘ Cyber insurance does not replace good security practices — but it ensures that when a breach occurs despite your best efforts, the financial consequences do not threaten your business. Contact us to discuss the right coverage for your specific situation.

Section 4What cyber insurance covers

Typical cyber insurance coverage elements

Ransomware response including negotiation support and ransom payment if required and approved
Forensic investigation to identify the nature and scope of the breach
Data breach notification legal requirement to notify affected individuals — can be very costly at scale
Business interruption revenue loss during system downtime
Third-party liability claims from customers, suppliers, or regulators for data that was compromised
Legal defence costs including regulatory investigation and enforcement proceedings
PR and crisis management reputational damage response — particularly important for consumer-facing businesses
Social engineering / fraud funds transferred fraudulently following a convincing deception
System restoration costs of restoring systems, recovering data, and rebuilding infrastructure

⚠ Cyber policies vary significantly in what they cover and how they respond. Standard business insurance policies typically exclude cyber losses. A standalone cyber policy is required for meaningful coverage.

Cyber Risk
Self-Assessment — Guyana

Contents

Section 1How exposed is your business?

Your business is particularly exposed if it

Section 210-question self-assessment

Question 1: Do you store customer personal data?

Question 2: Do you process payments online or store card data?

Question 3: Have your employees ever received suspicious emails?

Question 4: Could you operate for 72 hours without access to your computer systems?

Question 5: Do you back up your data regularly and store backups offline?

Question 6: Do employees access your systems from personal devices or home networks?

Question 7: Have you ever transferred funds based on an email or phone instruction?

Question 8: Do you use cloud-based email (Gmail, Microsoft 365, etc.)?

Question 9: Do you have a written plan for what to do if you are attacked?

Question 10: Could your business afford USD $50,000 in immediate costs from a cyber incident?

Section 3Recommended next steps

If you answered "yes" or "no" to any of the critical questions above:

Immediate steps (no cost)

Contact your broker

Section 4What cyber insurance covers

Typical cyber insurance coverage elements

Book a cyber risk assessment

Cyber RiskSelf-Assessment — Guyana

Contents

Section 1How exposed is your business?

Your business is particularly exposed if it

Section 210-question self-assessment

Question 1: Do you store customer personal data?

Question 2: Do you process payments online or store card data?

Question 3: Have your employees ever received suspicious emails?

Question 4: Could you operate for 72 hours without access to your computer systems?

Question 5: Do you back up your data regularly and store backups offline?

Question 6: Do employees access your systems from personal devices or home networks?

Question 7: Have you ever transferred funds based on an email or phone instruction?

Question 8: Do you use cloud-based email (Gmail, Microsoft 365, etc.)?

Question 9: Do you have a written plan for what to do if you are attacked?

Question 10: Could your business afford USD $50,000 in immediate costs from a cyber incident?

Section 3Recommended next steps

If you answered "yes" or "no" to any of the critical questions above:

Immediate steps (no cost)

Contact your broker

Section 4What cyber insurance covers

Typical cyber insurance coverage elements

Book a cyber risk assessment

Cyber Risk
Self-Assessment — Guyana