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Cyber risk is the risk of financial loss, damage to assets or disruption in business operations due to a failure of its information technology systems. It's a risk that's been developing since the dawn of information technology and by all accounts things are only getting riskier.
Incidents of cybercrime are on the rise and it seems like every other day you hear about a new exploit or a major data breach. You need look no further than the recent data breach incident with Equifax to see the wide-ranging consequences of not securing your business against cybercrime.
In an increasingly connected world, the need for a strong cyber security plan has never been more pressing. Nearly every aspect of your business, from the computers you use at work to the phones your employees carry home with them, is vulnerable to malicious attacks from hackers. In fact, cyber risk may be the number one area of concern for businesses today and cyber attacks on small businesses are on the rise. You may already have some kind of cyber security plan in place for your business, but how do you know if you're doing enough?
Despite the fact that we live in a digital world where technology and the internet are cornerstones of the workplace, most small businesses are unprepared to handle 21st Century threats.
According to a recent report, approximately 75 percent of small businesses don't have a cyber risk insurance policy in place. Sure, today's business owners are seeking insurance policies to protect themselves from floods, fires, or natural disasters. However, when it comes to a viable threat such as a hacker gaining access to company's network, three-quarters of small businesses are not prepared.
An alarming reality that today's businesses need to face is that cyber attacks are on the rise. According to a 2015 Symantec Internet Security report, the number of data breaches increased by 23 percent over the prior year. With continued reliance on technology, companies must get serious about cyber risk.
For business owners, there’s a lot of value in partnering with a firm like Summerlin-Roberts. A process like ours can help your business identify any areas that may need improvement and to fill gaps that naturally occur as your business grows. We can help you reduce costs by putting together a series of solutions for many different areas that are fine tuned to your needs as an employer.
Your website can be a big source of cyber liability, which can affect many different aspects of your business. As part of your plan to protect your business, you should take precautions to make your website as secure as possible.
With so much in the headlines these days regarding cyber theft, it's important to consider how this type of scenario would impact your business.
In today's highly digital world, businesses have come to rely heavily on technology. However, as the technology used continues to become more complex and sophisticated, the threat of a cyber attack increases.
What is a Cyber Attack?
A cyber attack is best defined by any attempt made by a hacker to damage or destroy a computer network or system. Professional hackers are very skilled in finding vulnerabilities in systems that lack the appropriate security software and are therefore able to gain access to networks and sensitive data, which often produces devastating results for the targeted companies.
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