Category Archives: Cyber Security

What is Driving Compliance

What is Driving Business Compliance?

There’s a long list of compliance requirements for businesses. PCI and HIPAA compliance are long-standing regulations that have driven credit card acceptance and healthcare entities for decades. Some that have tried to improve the security posture of impacted businesses, like CMMC with manufacturers, but have struggled to gain implementation and adoption. So, what is the strongest driver of compliance for your business today? Insurance and Supply Chain. Insurers are Driving Compliance Cyber Liability Insurance has been around quite a while, but due to the significant increase in breach incidents, they

Top 6 Reasons Why Your Cyber Insurer May Deny Your Claim

Top 6 Reasons for Cyber Insurance Claim Denials

If you think that your cyber insurance claim will be cleared with no questions asked, think again. Insurance claim denial has risen. While reviewing your claim, your cyber insurance provider will assess whether you took “due care” to protect your business from being compromised by a cyberattack. While having a cyber liability insurance policy is non-negotiable today, you cannot be fully assured that your insurer will cover any of the costs you incur following a security breach. Hidden in the fine print of your cyber insurance policy document are certain

The Cyber Liability Insurance Crisis

The Cyber Liability Insurance Crisis

It reminds us of the time(s) home owner insurers dropped residents of Florida after multiple hurricanes. Insurance companies are trying to stay afloat after a huge increase in claims. The soaring cost of breach incidents are changing the way insurers do business. As a result, it’s changing the way YOU do business. Insurers are requiring more from businesses before offering them cyber liability insurance coverage. And the cost of cyber liability insurance is increasing dramatically. The Soaring Cost of Cyber Liability Insurance Have you tried to renew your cyber liability

Many Things can Destroy your Business

Why Invest in Cyber Liability Insurance?

The COVID-19 pandemic has impacted everyone in one way or another. If there is one category that most benefited from the pandemic, it’s cybercrime. Cybercrime shot up by almost 300% since the start of the pandemic!  Businesses are much more likely to be closed by cybercrime than fires and natural disasters.  So, adopt measures to protect your business like having Cyber Liability #Insurance (CLI). Cyber Liability Insurance (CLI) covers the financial loss that results from cyber events such as data breaches. However, cyber liability is not typically included within general

security threats

Avoiding Security Threats

When talking about security threats that can affect a business, this no longer applies to physical threats, such as getting your inventory stolen by an intruder. Today, businesses also have to protect themselves against hackers and data breaches. Let’s consider the top things that businesses can do to protect against security threats. Train Employees to Recognize Phishing Scams Each year, businesses lose so much money globally to phishing scams. Simply put, phishing is when hackers use deceptive means and trick people into disclosing sensitive information or data. For instance, your

security threats

Why Data Security Is Just as Important for Small Businesses

While some people might only think data protection applies to large organizations, it’s essential for small businesses, as well. Small businesses are often targeted by security threats to steal sensitive data, making data protection a must-have for any sized organization. Here are some reasons why data security is important for a small business. Reliance on Online Platforms With the increasing reliance on the cloud and online transactions, many organizations are handling more and more data. Hackers will try to target this data for their own gain. The number of security

A 'Compliance First' Mindset Limits Liabilities

A ‘Compliance First’ Mindset Limits Liabilities

By adopting a Compliance First strategy, you will identify vendors and solutions that do not comply with your requirements. Then, you can eliminate them from your selection process, and select from the rest. It also means evaluating your current solutions and vendors and replacing those that cannot support your compliance requirements. In simple terms, ­­compliance is anything someone else makes you do. This means laws, regulations, contracts, and even the terms of a cyber insurance policy. Failure to act responsibly can have devastating results. Your business could endure hefty penalties,

How Security and Compliance Differ

How Data Compliance and Cybersecurity Differ

When you run a business, compliance and security are two essential factors. Both are equally important for the seamless operation of your business. While compliance helps your business stay within the limits of industry or government regulations, security protects the integrity of your business and sensitive data. It is worth noting that although security is a prime component of compliance, compliance does not equal security. This is because compliance does not consider the growing threat landscape and associated risks. What it considers, however, is a set of pre-defined policies, procedures,

Data Privacy Policy

Key Elements of a Data Security Policy

Having a well-documented data security policy in place can help protect your employees, sensitive information and customers from security breaches. To develop a holistic policy, it is important to analyze all the areas that could be a potential threat. USE THIS CHECKLIST TO ENSURE YOUR DATA SECURITY POLICY INCLUDES ALL THE KEY ELEMENTS REQUIRED TO MAINTAIN DATA PRIVACY AND SECURITY DOWNLOAD THIS CHECKLIST AS PDF ✅SAFEGUARD DATA PRIVACY Apart from complying with the existing rules and regulations, a data privacy policy guides your employees on how to handle sensitive information

Coworkers with imaginary security scores above their heads

Cybersecurity Tool Box

Remember the first time your parents gave you a box of tools? I was moving out for the first time, and my dad gave me a box filled with an old hammer, two screwdrivers (one flathead, the other Phillips head), a rusty wrench, and a tape measure. It wasn’t much but it showed me that he wanted to make sure that I was ok. He gave me those tools so that I could fix any problems that came up in my time away from him. Well, we want to do