We’re thrilled to announce our next webinar on February 21, 2023 at 11:00am (PST) to discuss “Cybersecurity Considerations for 2023.” From examining our evolving threat landscape to reviewing the importance of cyber insurance, we hope you can join our panel discussion with industry experts for key insights to keep your business secure. Register for the webinar here and continue reading to learn a bit more about this topic before joining us live.
While our increasingly connected world allows for more opportunities than ever before, it also leaves us exposed to more cybersecurity risks. Here are just a few alarming statistics that stress the importance of implementing a robust, multi-layered cybersecurity strategy:
Now is the time to get serious about protecting your data, your team, and your business. The newest trend in cybersecurity centers around the “zero trust” cybersecurity model. “Zero trust” cybersecurity refers to treating everything (both human and machine) as a threat. The World Economic Forum notes that, “Now more than ever, enterprises and organizations benefit from the continuous verification requirement that repeatedly checks identities of every person or device before allowing access to digital assets.” Given the state of our cybersecurity landscape, this way of thinking ensures the best protection for your business.
There have been several federal compliance changes that have occurred recently. One of the major ones is the Gramm-Leach-Bliley Act (GLBA). This is a ruling made by the Federal Trade Commission that will affect a variety of businesses in the financial industry — from financial institutions and public tax preparers to payday lenders and mortgage brokers.
The rule establishes a variety of provisions centered around cybersecurity protection and transparency — from requiring risk assessment reports to offering guidance on proper encryption of customer information. Above all, the rule seeks to protect sensitive customer information, which is especially important for businesses who collect financial information. Learn more about the rule in our latest blog post.
Nationwide defines cyber insurance as a type of insurance that covers your organization’s “liability for data breaches involving sensitive customer information, such as Social Security numbers, credit card numbers, account numbers, driver’s license numbers, and health records.” It safeguards your organization’s data and assets, while also protecting your customer’s sensitive information.
Cyber insurance is important for several reasons. For one, it covers what general liability insurance doesn’t. Typically, general liability insurance does not cover cyber-related incidents, which is why we recommend having a customized cyber insurance policy that covers your unique risks. Cyber insurance can also help cover your legal feels and expenses in the event of an attack. Legal fees are costly for any business, but especially for small to medium sized ones. By investing in cyber insurance now, you can prevent costly legal fees and expenses down the road.
Cybersecurity remains at the forefront of everything we do. We strive to educate our clients on the best ways to stay protected — from the right technology solutions to ongoing cybersecurity awareness training. We hope you can join us for our next webinar on February 21 at 11:00am PST to learn more about protecting your business. We look forward to seeing you there!