Tag Archives: Cybersecurity threats

Why Cybersecurity Insurance Matters

Cybersecurity Insurance

As businesses move forward into a digital environment, cybersecurity insurance becomes even more crucial as online threats grow more advanced. Before, hackers only targeted large, high-revenue corporations since they had the money and the valuable information. But statistics show that over 40% of recent cyberattacks target small businesses. But what’s even more alarming is that only 14% of these small businesses are prepared for such an attack.

Cybersecurity Insurance is a Wise and Necessary Investment

Organizations are already taking more stringent measures to protect their businesses against online threats. Despite these efforts, malware and ransomware can still make their way into your system, and data breaches can still happen. To protect your business from the many ramifications of these attacks, you must invest in a good cybersecurity insurance plan.

While cybersecurity insurance cannot prevent or undo cybercrime, there are many ways that it can help your business recover in case an online attack takes place.

Reduce Financial Setbacks

Dealing with the consequences of a cyberattack can be expensive. Depending on the severity of the attack, it can set your business back by millions of dollars! You will pay for legal services, IT support, damage control, and more. A comprehensive plan can cover all these expenses and much more.

Cover Downtime Losses

Getting your business back on its feet can take a long time, again depending on the gravity of the situation. During rebuilding or while operations are on hold, insurance can tide you over until your business is fully recovered.

Fill the Gap Liability Insurance

When purchasing a general liability insurance plan, many business owners assume that this covers cyberattacks, which is typically not the case. Standard policies might offer coverage to some extent, but it is rarely enough. A separate cybersecurity insurance policy will give you the widest possible coverage to protect your business.

Recovery Assistance

Many cybersecurity insurance plans today offer so much more than just financial help. Many providers offer a complete recovery package that includes legal services, PR damage control, and IT forensics. You can get all these services from separate providers, but why stress yourself when you can get them all in one place?

Competitive Rates for Robust Security

Insurance carriers usually offer very competitive rates to clients with a robust cybersecurity system in place. This is to encourage companies to prioritize cybersecurity and implement better strategies. If you wish to avail discounted rates, it would be a good idea to level up your protection as early as now.

Best Practices for Improving Cybersecurity Insurance

There are many ways to boost cybersecurity in the workplace, as many of us know by now. For starters, you must train your employees regularly, as lack of awareness still ranks at the top of how hackers break into systems. You must also secure your networks, constantly update your anti-malware tools, and implement multi-factor authentication.

Bring Your Own Device Policy

Another excellent way to improve your company’s cybersecurity is to implement a sound Bring Your Own Device or BYOD policy in the workplace. The policy should clearly define the responsibilities of the company and the employee when using their personally owned devices to access company data and other uses of the device within the workplace.

To guarantee that you include all the vital elements in your company’s BYOD policy, you can use our BYOD Policy template, which you can download by clicking right here. You can customize it any way you need to make it align with your organization’s operations and goals.

Final Thoughts on Cybersecurity Insurance

A business needs to do everything necessary to boost cybersecurity. But no matter how strong your defenses might be, one must never be complacent. Investing in a good cybersecurity insurance plan is one of the best things you can do to protect your business. Call us now so we can help you with any questions you may have about cybersecurity insurance.

Top 5 Ways Your Business Can Be Impacted without a BDR Plan

BDR Plan

A backup and disaster recovery plan is crucial for every business, regardless of industry or the size of the enterprise. Disasters can stem from many situations, from natural calamities to online attacks or even a simple human error. Without a proper BDR plan, your business might easily get destroyed, possibly with very little hope of being able to get back up at all.

With the prevalence of online and offline threats, we cannot emphasize enough that a small business needs as much protection as possible. So if you are stubbornly resisting the call to put a reliable BDR plan in place, this is the perfect post for you. Keep reading to discover the drastic ways that may impact your business if you keep going without a BDR plan.

BDR Plan for Natural Disasters

No one can tell when or where a natural disaster will occur or how severe its effects will be. What will you do if your business records get caught in a raging fire or your servers get damaged beyond repair in a Category 4 typhoon? Without a BDR plan, you might as well sit in a corner and weep because there is no way you can recover the lost data.

Cloud-Based Threats

Businesses have been taking advantage of cloud solutions for multiple applications, which is a good thing. But with this trend also comes a horde of new online risks. In migrating your business to the cloud, it becomes one more target for relentless hackers searching for the next victim. A modern BDR plan takes these threats into account and lists actions with suitable security measures to minimize the risk to your business and your cloud-based data and processes.

Data Protection

A company’s data is one of its most valuable assets and must be protected. The backup should include transaction records, legal contracts, customer information, and a horde of data that would put you in a very unpleasant situation should it fall into the wrong hands. To keep your data safe, keep an updated copy in a secure location in case your primary storage gets compromised or damaged. Only a professional BDR solution can give you the data protection and security your business needs.

Remote Employees

Remote work has become very common because of the pandemic. While it has many perks for both the workers and your business, there is also the added risk that remote employees are inadvertently adding to the company. Often, remote employees use their networks at home while working, which are not very secure. If a hacker infiltrates your business, you can roll out your BDR plan to stop the damage and get back to normal operations as quickly as possible.

Ransomware

Almost all the million-dollar data breaches reported this year involved ransomware. This is one of the easiest and most effective attacks hackers use to conduct their illicit affairs. Many companies that have been the victims of ransomware attacks could recover, but only because they had an effective BDR strategy. And if you don’t have one, who knows what terrible fate awaits your business following an attack?

Protect Yourself and Your Business Today with a BDR Plan

According to statistics, about 40 percent of small and midsize businesses do not have any BDR plan. All they have is antivirus software and some data backups on an external hard drive, and that’s about it.

Danger will always lurk around, and there is no better time than now to prepare yourself. You should include a solid BDR strategy in the list of your small business needs. You can familiarize yourself with the many benefits of a BDR plan by downloading our FREE Infographic.

When you are ready to take the next step, we are standing by. Call us today, and we will create a robust BDR strategy to keep your business as secure as possible.

The Role of Technology in Businesses in 2023

Technology in Businesses in 2023

Technology has always played a key role in businesses across different industries in 2023. But recently, this role has grown even more because IT is used more and more in businesses around the world. To draw more customers and stay ahead of the competition, you should understand all the changes and use them to your advantage.

Technology Trends in Businesses to Look Out for in 2023

grow your business in 2023

Many trends in technology are useful in growing businesses in 2023, as discussed in our first blog this month, 8 Ways Technology Will Grow Your Business in 2023. You don’t need to use all of them – just take your pick depending on your industry and the nature of your business. There are some kinds of technology, however, that can add value to just about every industry, like the following:

Artificial Intelligence

Commonly used today for online shopping, digital assistants, and fraud prevention, AI can make your operations faster and more efficient while freeing up a lot of time and other resources for your business.

Cloud Computing

Cloud-based solutions virtually take away the boundaries to how you operate your business. It gives you access to software, infrastructure, and other resources you could only dream of before.

Automation

So many processes that used to be done manually are now automated through technology in businesses, especially in 2023. This transition speeds up operations, reduces the risk of human error, and makes for a much better customer experience.

Internet of Things

Now that software, sensors, and other things can connect almost everything, we are living in the age of connectivity. The IoT provides many ways for businesses to save time and increase efficiency, but it also opens up new security risks, so we must exercise due caution.

Vendor Management Technology in Businesses in 2023

Working with vendors is a more complicated task than many assume. To reduce risks, you need to keep costs low and get the most out of your vendors. With the aid of a good VMS, all this is possible without breaking a sweat.

The Importance of Cybersecurity Technology in Businesses in 2023

importance of cybersecurity in 2023
Technology Trends for Cybersecurity
As technology in businesses advances in 2023, so does the risk of online threats. For this reason, it is more important than ever to protect your business with a dependable cybersecurity solution.

As we talked about in our blog post on week 2, Top 8 Technology Trends and How They Impact Cybersecurity, each current technology trend has its own impact on cybersecurity. Some are good, and some are not so good. You can read more about it by checking out our blog here.

Perks of Working with a Managed Service Provider

Changing your IT provider

Staying updated on all the changes in technology in businesses can be tiresome in 2023. Typically, business owners would not have the time to do it themselves. But there is a way to enjoy the benefits of technology for your business—by partnering with a managed services provider.

If you currently already have an IT provider but are not always happy about the service you are getting, it might be time to make a change. Changing your MSP is a bold move that must not be taken lightly. In our week 3 blog entitled When Is It Time to Change Your IT Provider? we list some signs that tell you to find a new provider.

A reliable MSP can give you all that IT offers and make it work for your business, just like we do at Our Company. We can provide everything from simple IT consultation to business automation, vendor management, cybersecurity, and anything technology-related that can help grow your business.

One of our areas of expertise is vendor management. This is quite an underrated aspect of business that needs more attention as it deals with crucial business expenses that impact growth. Click here for more about our vendor management services and how they can benefit your business.

January Recap: All You Need to Know About Social Engineering

Social Engineering

This month, we covered a range of topics concerning social engineering. Social engineering is now considered one of the most prevalent risks when it comes to online security. Most hackers rely heavily on social engineering tactics to lure unsuspecting users to divulge information.

It sounds complicated but it’s nothing more than the practice of manipulating people into revealing information through the use of false pretenses. It often creates a sense of urgency, fear or excitement, playing with people’s emotions to get them to do exactly what the hackers want them to do. In case you missed any of them, here is a brief summary.

social engineeringWeek 1: What Is Social Engineering and How Can It Affect Your Business?

We discussed the basics of social engineering and how the different types of attacks are used to exploit unsuspecting victims. We also looked at what makes up a successful social engineering attack and how attackers might use modern technology to increase their reach. Specifically, attackers may utilize deception techniques such as phishing emails or malicious links in order to gain access to personal information or data. Additionally, attackers may use impersonation tactics in order to manipulate their target into giving away information or credentials.

Social engineering is the infiltration of something secure, intending to acquire information or secure access through cunning means. With the use of modern technology, social engineering is now possible with the victims not even knowing. If you are caught unprepared, as a result, this could potentially lead to the downfall of your business. With awareness and the presence of mind, you can easily avoid becoming a victim. One of the commonly used methods is tailgating or entering the premises on the pretense that they are an authorized entity.

Simple practices like refraining from opening suspicious-looking emails and attachments would be very helpful. It is also advisable to implement multifactor authentication in all your systems and to keep your antivirus software updated. Click here to read more of our week-1 blog defining what exactly social engineering is.

Social Engineering scamsWeek 2: Where Does Social Engineering Scams Come from?

In order to prevent these attacks from being successful, it is important for users to remain aware and educated about cybersecurity best practices and protocols. This includes implementing strong passwords that include both upper- and lowercase letters, numbers, and special characters; avoiding suspicious links through email or messaging services; and utilizing two-factor authentication measures when possible–for example, when accessing accounts online or over public Wi-Fi networks. Users should also use secure VPNs whenever possible to protect their remote data..

There are more than 4.74 billion social media users today. Hackers are using social media to entice unsuspecting users into their traps. They create fake accounts that are used in either of the following four ways:. MIPs are bare profiles, usually with seductive profile photos that are meant to get people interested enough to add them as a contact. A hacker will then use this fake MIP to send malware through messenger or post malicious links on your wall. Fully Invested Profiles are intended purpose of fully invested profiles is the same as those created for MIPs. Click here to read more of our week-2 blog about the origin of social engineering.

Cybercriminals Use Social Engineering

Week 3: The Top 5 Ways Cybercriminals Use Social Engineering

Finally, we presented best practices for staying safe online when encountering suspicious links or other potentially dangerous content. For example, links in messages can lead to malicious sites with malware that could compromise users’ personal information and devices. It is also important for users not to respond immediately if they receive an unexpected message from someone they do not know or recognize – even if it appears legitimate – as this could be an attempt by adversaries to gain access to sensitive data via impersonation techniques.

Cybercriminals use social engineering to play on victims’ emotions and gain their trust. There are a number of different ways that cybercriminals manipulate their victims online. Phishing is by far the most common and most effective tactic that hackers use in social engineering. This is where the hacker pretends to be someone that the victim knows, then asks for their login details. There are so many ways that cybercriminals use social engineering for malicious intent these days. Piggybacking, also known as tailgating, is when someone discreetly follows an authorized person into a restricted area of the building. As a business owner, it is crucial to ensure that you educate all your employees fully when it comes to social engineering attacks and other cybercrimes. Click here to read more of our week-3 blog and the top 5 social engineering threats.

By following these tips and remaining vigilant about potential attacks, everyone can make sure to stay safe online! Give us a call if you think you need help strengthening your business against attacks.