Cyber Insurance
Protect Your Assets from Cyber Risks
“Data is the new oil of the world.” Businesses are storing their intellectual property, proprietary, and confidential information in digital format and the personal and sensitive personal data of their employees and clients. The question is, are they taking enough measures to secure the data and their liabilities and risks associated with it? As reported in the 2019 Scalar Security [...]
Cyber Risk Hell Fire: Don’t Let Your Business Go Down in Flames
Cyber risk is a growing threat for businesses. Cybercrime has spiked during the pandemic. Both the frequency of cyber-attacks and the severity of damage to cyber victims have escalated drastically. We have experienced a 150% increase in ransomware attacks (source: Group-IB report) and a 300% increase in ransom payments (source: Ransomware Taskforce). In part, this perfect storm is caused by [...]
Risk management for Accountants: protecting facilities and property from damage
Risk management is a prudent practice for all types of businesses. As time goes on, it is essential to re-examine your company’s landscape and compare it with current business practices. It is even more critical for accountants who have access to various sensitive, personal and corporate financial data to conduct a routine risk management check-in. The three biggest liability risks [...]
How Parents Can Help Prevent Cyberbullying
With teens spending as much as nine hours a day online, it’s not surprising to learn that bullying has shifted to the Internet. As common as cyberbullying is, it is rarely reported. More than 50% of all teens have been bullied at least once. More than 25% have experienced bullying on multiple occasions. More than 50% of teens who are [...]
Risk management insight for accounting firms: data security
Accounting is a highly regarded and respected profession. Being a professional Accountant comes with a responsibility to protect data, provide relevant advice, and be accurate in execution. Beyond this, many Accountants who also operate their firm are tasked with ensuring regular business operation. These operations include maintaining their office and equipment, managing the firm’s reputation, being up-to-date on employee practice [...]
Insurance risks of selling online
Has your business started selling products or services online? Resilience, adaptability, and perseverance are three words we would use to describe how business leaders and entrepreneurs have handled these unprecedented times. To survive and thrive in this current state, embracing digital transformation has become critical for many businesses. By pivoting their business delivery channels, many have discovered an opportunity to [...]
Cyber Risk for Boards and Management Teams
We have all read cyber risk statistics: 60% of businesses are out of business within 6 months of falling victim to a cyber attack 43% of attacks involve SMEs (Verizon) Beyond being such a drain on resources, the average cost of a cyber breach is approximately $5.9 million (IBM/Ponemon) Meanwhile, the cybersecurity gap remains significant leaving many organizations (of all sizes) [...]
Phishing in COVID-19 waters
The COVID-19 outbreak continues to disrupt our lives. There are many experiencing a heightened sense of concern for their personal safety and the safety of their loved ones. Unfortunately, people hungry for information are also perfect targets for phishing scams. One of the most frequent is the fake World Health Organization email that prompts readers to download a Safety Measures report. CEO of Darn IT [...]
What is Sodinokibi Ransomware?
No company can eliminate the risk of being hacked, not even the CEO of Amazon. Do what you can to mitigate falling victim to a ransomware attack or similar cyber risk while also ensuring your organization considers cyber risk transfer seriously too. Here is a common statement you may hear expressed from an executive at a company actively focusing on cyber [...]
Why should my business care about Ransomware-as-a-Service?
What is the difference between Ransomware and Ransomware-as-a-Service? Ransomware is not a new threat for businesses. It is one of the most commonly talked about cyber security issues facing companies today. This comes with good reason. It is very profitable for cyber criminals and the barrier of entry is getting smaller and smaller. Because of the ability to make money [...]