If that statistic by IBM is true, what are you doing to prevent human error?
If you’re a small or medium-sized business you’re probably not doing much.
I get it.
It’s difficult to train employees on risks you may not even understand yourself, or your IT department is too overwhelmed to take on the task of risk control training and awareness. Ongoing training and education isn’t easy.
Yet the threat of experiencing a cyber event is very real. The FBI gets 1,000 cyber attacks reported to it EVERY DAY. For every event reported, can you imagine how many are not?
The costs of a breach are all over the ballpark and largely depend on the number of “records” your company has stored. But the average cost of a breach is reaching $4 million according to The Ponemon Institute. If you want to find out what a data breach could cost your company, navigate to: https://evolvemga.com/databreachcalculator/db-calc-standalone/data-breach-mini.html to complete this calculator.
Ransomware is possibly the greatest threat to businesses of all sizes today. Want to see how ransomware works? View this scary video from Cisco:
The bottom line is that cyber risk is a threat that continues to grow, evolve and morph into different forms every day. You need solid protection from your internal IT department or external IT services firm, you need ongoing awareness training to avoid human error, and most of all you need the financial backstop when something does go wrong in the form of cyber insurance.
As a leading cyber insurance broker in New York, we represent an insurer who offers valuable risk management resources to help identify threats and vulnerabilities, provide security awareness to employees, and monitors the dark web for your information with every cyber policy they issue. The human error awareness training is engaging and valuable and could be worth more than the premium you’ll pay for just cyber insurance.
Want to learn more? Hit the next steps button below, and let’s start a conversation.
If you want a rough idea of the premiums, send me an email, and include your firm’s full name and annual revenues. We’ll respond with a premium “indication” which is a ballpark premium subject to some additional underwriting. If it looks good to you we’ll ask you to complete a ONE PAGE application (for firms under $50M in revenue). Fast, simple, effective.