What Every SME in Lagos Should Know About Cyber Insurance & IT Security

Doing Business in Lagos? Your Digital Risks Just Doubled.

If you run an SME in Lagos, you already deal with fuel scarcity, unpredictable policies, and inconsistent infrastructure. Now add this to your list: your business is one wrong click away from a data breach, a ransomware attack, or being locked out of your systems.

Cybercriminals aren’t just going after banks and multinationals anymore. They’re going after you.

And here’s the kicker: many businesses that suffer a cyberattack never recover. Some shut down entirely. Others bleed money for months trying to recover customer trust, retrieve stolen data, or rebuild damaged systems.

This is exactly why cyber insurance and IT security are no longer luxuries. They’re part of the basic toolkit for survival in today’s Lagos business landscape.

But here’s the part most SMEs don’t realise: you can’t just buy cyber insurance like a fire extinguisher. You have to earn it.

What Is Cyber Insurance and Why Does It Matter for You?

Cyber insurance, also called cyber liability insurance, is a policy that protects your business from the financial fallout of digital threats. It’s not futuristic. It’s not just for tech companies. It’s for anyone who uses a phone, a laptop, a website, or stores customer data online.

What Cyber Insurance Typically Covers:

• The cost of notifying customers after a data breach

• Legal fees from leaked private data

• Ransomware payments (yes, they’ve become that common)

• Recovery of stolen or deleted data

• Crisis communication and public relations damage control

But insurance companies aren’t handing out these policies like party favours. To get covered, your digital house must be in order.

The Catch: Insurance Companies Want Proof You’re Secure

No insurance company wants to pay out claims to a business that hasn’t taken basic precautions. Imagine trying to insure a house with no front door or locks. That’s what your business looks like without cybersecurity.

Before a policy is issued, insurers look for things like:

• Are you using firewalls and antivirus software?

• Do you back up your data regularly?

• Are your employees trained to recognise phishing emails?

• Do you use multi-factor authentication?

• Is your customer data stored securely and encrypted?

This is why IT security and cyber insurance go hand in hand. You can’t have one without the other.

About Adler Technology

Adler isn’t just a tech company that installs routers and sells firewalls. We’re the bridge between your business and the insurance coverage you need. We make you insurable by building a secure digital environment that insurers can trust.

Here’s what that looks like in practice:

1. We Start With a Cyber Risk Assessment

Before you qualify for insurance, you need to know what your vulnerabilities are. Adler runs a detailed audit of your current systems to identify:

• Outdated or exposed software

• Weak password policies

• Poor access controls

• Gaps in employee awareness

• Devices that are unprotected or unmanaged

This forms your cybersecurity baseline and gives both you and your insurer a clearer picture.

2. We Implement the Right Tools, Not Just Expensive Ones

IT security isn’t about throwing money at the latest tech. It’s about matching the right solutions to your business size and risk level. Adler helps you implement:

• Business-grade antivirus and firewall protection

• Secure cloud backups (so ransomware doesn’t cripple you)

• Network monitoring and alert systems

• Two-factor authentication across all logins

• Password managers and device encryption

It’s a smart, scalable setup. Not overkill. Not under-protected.

3. We Train Your Team to Stop Clicking Bad Links

Your staff are either your first line of defence or your biggest vulnerability.

Adler offers employee training tailored for SMEs in Lagos. No jargon. Just real-world guidance like:

• How to identify fake emails

• What to do if you click a suspicious link

• How to create and manage strong passwords

• Why USB drives can be dangerous

Training shows insurers that your risk is low and gives you peace of mind.

4. We Monitor, Patch, and Keep You Audit-Ready

Once your systems are in place, they need to be maintained. Adler handles:

• Software updates and security patches

• Ongoing monitoring for suspicious activity

• Monthly security reports that satisfy insurance requirements

• Incident response plans so you’re not scrambling during a breach

You get the infrastructure and support of a big company without hiring an internal IT department.

Why Cyber Insurance Makes Sense for SMEs in Lagos Right Now

If you’re still on the fence about cyber insurance, consider this:

• Ransomware attacks increased by 80% in Nigeria in the past 18 months.

• The average cost of a single data breach is over ₦20 million for a small business.

• Regulations are getting stricter. Violating Nigeria’s Data Protection Act can result in heavy fines.

• Your clients care. Larger companies now demand that their suppliers and partners show evidence of cybersecurity controls.

When a cyberattack happens, and statistically, it will, insurance helps you survive. But only if you’ve built the digital defences that insurers require.

Your Path to Protection (and Peace of Mind)

Here’s a simple plan to make sure you’re covered:

1. Book a cybersecurity audit with Adler

2. Fix the weak points in your digital setup

3. Get trained, secure, and backed up

4. Apply for cyber insurance with proof of your security posture

5. Stay compliant with Adler’s ongoing support

Adler even works with your insurance provider to help ensure you qualify and get the best policy terms.

It’s Not Just About Insurance. It’s About Staying in Business.

You’ve already beaten the odds by growing a business in Lagos. Don’t let a hacker undo it all in one afternoon.

Cyber insurance can save your finances. IT security can protect your operations. Adler Technology helps you secure both.

Ready to protect your business from cyber threats and become insurance-ready? 
Let Adler Technology help you build a secure, insurable digital environment.

📞 Book your cybersecurity assessment today
📧 Email: info@adlertechnology.com.ng
🌐 Visit: www.adlertechnology.com.ng

FAQs

Q1: Can I get cyber insurance without IT security in place?
In most cases, no. Insurers require basic security controls before issuing a policy. Adler helps you meet those standards.

Q2: What size of business does this apply to?
Whether you’re a solo founder or a team of 50, cybersecurity and insurance should be part of your strategy.

Q3: How long does it take to get insurance-ready?
Most SMEs can complete assessments and upgrades within two to four weeks, depending on the complexity.

Q4: Does Adler sell insurance directly?
No. Adler focuses on IT security and compliance but collaborates with insurers to help you qualify for coverage.