Illustration of a clipboard with a checklist. perfect for organizing tasks like securing small business insurance.

3 Things Small Firms Should Do Before Shopping for Cyber Insurance

Cyber risk continues to evolve at a breakneck pace. Insurers are working to keep up by customizing policies and endorsements based on the size and business model of the insured. At last week’s third annual International Cyber Risk Management Conference, Matthew Davies, Assistant Vice President of Chubb Insurance Company of Canada, outlined a few key points on what cyber security practices a small organization to already have in place when looking to procure cyber insurance.

The ALS Group March 7, 2017

A close-up of a server rack with multiple blue network cables connected highlights the importance of cyber risk management.

How to Respond to a Cyber Attack: 7 Crucial Steps

In 2015 The Internet Crime Complaint Center received 288,012 complaints of cyber attacks totaling more than $1.07 billion in reported losses. Those numbers are based only on incidents that were reported to the FBI. When we talk about cyber risk, data theft, and the threat of Ransomware, we usually focus on prevention strategies. But being prepared to respond quickly and efficiently when an event does occur is just as important to operations recovery, cost reduction, and reputation management.

The ALS Group February 28, 2017

Four Ways to Protect Your Employees’ W-2 Information from Cyber Thieves

Most companies today opt to distribute their employees’ W-2 tax forms electronically; either through email or some type of download service. Because these forms contain a good deal of Personally Identifiable Information (“PII”), such as name, address, social security number and salary information – cyber thieves are using several simple, yet, tried-and-true methods to fraudulently obtain them.

The ALS Group February 7, 2017

A person in a white shirt uses a magnifying glass to read a document on cyber liability insurance at a desk, with a pair of glasses placed nearby.

Reviewing Cyber Breach Insurance Coverage | First-Party Costs

Organizations today must regard cyber breaches not as a possibility, but as an inevitable fact of life. In this environment, it’s crucial to have a cyber liability insurance policy that adequately covers the potential loss and offers payment or reimbursement for response costs. Understanding what’s covered by the policy well before a breach occurs and building that knowledge into your company’s incident response plan is critical.

The ALS Group January 31, 2017

2017’s Latest Cyber Security Threat: The Ransomware Bluff

2016 was a big year for ransomware. It saw a massive increase in ransomware events and payouts to criminals, which, most experts say, only exacerbates the issue. A 2015 report by the Herjavec Group (an Information Security company) noted that the total cost of ransomware reached $1 billion in 2016. With new “strains” of ransomware spreading worldwide (such as the Russian “spora”), we should all be on high alert for this business-impacting cyber threat.

The ALS Group January 24, 2017

A magnifying glass highlights the words "NOT COVERED" on a document, emphasizing the exclusions listed in your cyber insurance policy.

Gaps and Exclusions | How Will Your Cyber Policy Respond?

When the front lines of IT security fail and a cyber breach occurs, businesses often rely on insurance to reduce the often extreme financial impact associated with the breach. Policies are usually written to ensure that the insured recovers extra expenses incurred and are covered for fines and penalties placed on the company by regulatory agencies.

The ALS Group January 18, 2017

Are you Covered? | Cyber Attacks May Cause Property Damage

Traditionally, a cyber breach occurs and otherwise private information is stolen or made public resulting in costs such as notification expenses, IT forensics, data recovery, public relations/crisis management, legal defense, business interruption, brand/reputation damage and regulatory fines and penalties; just to name a few. However, the breadth of cyber-attacks has proven to be ever expanding. Now, breaches resulting in physical property damage are being reported more regularly which leads to the immediate question, “am I covered for such an event?

The ALS Group January 10, 2017

Is a Cyber Breach on Your Holiday Wish List? | The Internet of Things (IoT)

The holiday season usually means new tech gadgets for everyone to tap, swipe, click, and download. Most people who unwrap a new iPhone, MacBook, Smartwatch, Fitbit, or game console probably aren’t considering the ramifications of connecting those devices to the Internet and setting up new user accounts filled with their personal information. Unfortunately, we live in a time where have to, or at the very least, should.

The ALS Group December 20, 2016

Cybercriminals are Comin’ to Town | Holiday Shopping Cyber Security Tips

If you’re anything like me, you will complete most of your holiday shopping from the comfort of your own home, laptop in hand, attempting to avoid the craziness of department stores and mall parking lots. Then, a week or so before the big day, you’ll realize that you neglected to order some key gifts and scramble to pick them up in-store.

The ALS Group December 6, 2016

Big Breaches Soar, With No Signs of Slowing Down

The year 2016 is turning out to be a record one for data breaches, and cybercrime won’t be slowing down any time soon. According to global digital security firm Gemalto, nearly five billion private records have been exposed globally since 2013. Data breaches were up 15% in the first half of 2016 compared to the prior six months.

The ALS Group November 29, 2016

Our areas of expertise include:

Enterprise Risk Management (ERM)
Cyber Security & Cyber Liability Insurance
Construction Management
Customized Risk Management Assessments (RMAs)

The ALS Group Risk Management Articles

3 Things Small Firms Should Do Before Shopping for Cyber Insurance

How to Respond to a Cyber Attack: 7 Crucial Steps

Four Ways to Protect Your Employees’ W-2 Information from Cyber Thieves

Reviewing Cyber Breach Insurance Coverage | First-Party Costs

2017’s Latest Cyber Security Threat: The Ransomware Bluff

Gaps and Exclusions | How Will Your Cyber Policy Respond?

Are you Covered? | Cyber Attacks May Cause Property Damage

Is a Cyber Breach on Your Holiday Wish List? | The Internet of Things (IoT)

Cybercriminals are Comin’ to Town | Holiday Shopping Cyber Security Tips

Big Breaches Soar, With No Signs of Slowing Down

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