Security threats are prevalent, and every company should consider themselves a TARGET for cybercriminals to launch a cyber-attack.
Hackers are resourceful. They use low-cost automated cyber-attacking methods that scan thousands of websites per day, looking for vulnerabilities within your systems. Once they find your weaknesses, they can penetrate your network to get what they want.
Cybercriminals can take on many forms, and they live throughout the world. Therefore, if a hacker is successful in their attack (no matter how small the payout is), it is well worth their investment.
Companies become easy targets for hackers when they don’t conduct regular software updates, have strong passwords, maintain their antivirus software, backup their company data, or have two-factor authentication.
Since many large banks are now upgrading their security protection, smaller banks and credit unions are especially susceptible to becoming targets for cyber-attacks. For example, of the 955 data breaches that Beazley managed, 139 were financial institutions with revenues below $35 million.
Additionally, regular insurance policies often do not adequately protect your company and its assets from cyber-attacks. So, although you may think you have “full coverage,” instead you are still susceptible to losses if a security breach occurs.
Insurance policies can contain vague rider exclusions, loopholes, and they do not assess your risk levels. Plus, typical coverage does not protect your lost business, legal and regulatory costs, damaged reputation, or third-party liabilities.
One of the biggest mistakes an organization can make when it comes to their cybersecurity is thinking that an attack won’t happen to them. Every company is at risk. Cybercriminals want access to either your personal and financial data, money, or intellectual property. Therefore, the following industries are most susceptible to becoming victims of cyber-attacks.
At Cyber Underwriters, we approach your cybersecurity protection from many angles. We thoroughly access and test your systems for any weaknesses or vulnerabilities. Additionally, we ensure you are meeting all your regulatory requirements. Then, once your weaknesses are fixed on your end, we re-test to make sure any vulnerabilities are gone, and your company is adequately protected from future security breaches and hackers.
Adequately ensuring your organization is protected from security breaches must include coverage that helps to defend from the risks that are inherent to your specific business. At Cyber Underwriters, we design solutions differently than any other company. We create perfectly customized services and solutions for each client based on assessing their unique exposure to risk.
Security threats are growing. Therefore, you must be proactive and keep your business protected future cyber-attacks. For more information or to receive a digital risk assessment, please contact us today.