Don’t ever say, “It won’t happen to me" or “Our business is too small for the hackers to bother”. We are all at risk and the stakes are high – both for your personal and/or company’s and financial well-being and for your company’s standing and reputation.
• Cybersecurity is everyone’s responsibility,
• By remaining vigilant, you are doing your part to protect yourself and others.
Why should we care?
Stephen Cobb, an independent researcher and consultant who studies technology and risk, said that small businesses fall into hackers’ cybersecurity sweet spot, since they “have more digital assets to target than an individual consumer has but less security than a larger enterprise.”
Why should we care gets down to risk. Most small business identify risky situations and try to eliminate them from happening. Every year we sit down with our insurance agent and review our coverage and adjust the policy to reduce the risk to the business. Then determine if there need to be any changes to policy based on current risks. To qualify for the insurance policy, we may need to make some changes to the business. For example, we may need to make some safety chances (install security cameras) or employee training.
Cyber risk is similar. As we all know, there are cyber criminals out there trying to steal from us. They are good at what they do and are ruthless. Cybersecurity insurance is becoming a necessity for businesses to reduce risk. Cybersecurity insurance providers are now requiring businesses to implement tools (controls) to qualify for cyber insurance. These controls are policies and software tools. Examples are, strong passwords, multifactor authentication, email protection, advanced endpoint detection, end-user training, etc.
Cyber risk has been around since the beginning of computers, however for small and medium businesses it has accelerated in the last 5 to 7 years. The Verizon Data Breach reports states “Among small to medium-sized businesses (SMBs), a full 61% experienced a cyberattack during the past year”.
BounceBack Solution is a Cybersecurity company focused on providing cyber security solutions.
Cybersecurity tips sourced from UC Berkeley