Cyber threats are a hot topic now and seem to be on news coverage everyday, but what does that mean for your business? These cyber threats may not seem serious (for YOUR company) until they directly affect your business, and if they do, you will realize very quickly how much damage these attacks can cause. If your business uses computers or the internet in any capacity you’re vulnerable to cyber attacks. While the use of technology in the work place continues to rise along with productivity, so does the number of access points for hackers.
President Obama recently met with some of America’s top CEOs to discuss Cyber Liability issues. Cyber security in the private sector is a rising concern that the Federal Government takes very seriously. The FBI has made cyber crime a number one priority, one that is currently outranking terrorism in terms of importance. These attacks can shut down the operations of any company in a matter of minutes, not to mention the lasting damage they can cause to your firm’s reputation, client data theft, etc. – are you convinced yet that this threat is something your company needs to pay attention? So now you need to know: how can I protect my business from such a threat?
The biggest issue when dealing with Cyber threats is trying to understand your specific risks. How to properly defend your business from these silent, yet deadly attacks is a major concern and is something that must be considered carefully. Buying the appropriate coverage is one, but not the only way to mitigate this risk. The Department of Homeland Security is releasing cyber threat information to some of the U.S. top CEOs to help fight cyber liabilities. These companies, (AT&T and CenturyLink) are able to use classified information to develop and sell a package of higher security protection to qualified companies that the government deems to be part of the nation’s critical infrastructure. If your company is not part of that elite business group, you need to be even more vigilant in protecting your company because nobody else will! Having an independent risk professional make sure you have the proper best practices in place to prevent such attacks and the right coverage should one happen is the best way you can protect your business.
Cyber security needs to be taken seriously; the U.S. government has taken an aggressive stance on this issue in hopes that private businesses follow their lead. If your business chooses to overlook cyber threats, you may be fine and save a few dollars avoiding an expense for a potential risk in the process; but your company may also be setting itself up for a debilitating attack that can shut down operations and lead to unrecoverable losses.
If you would like to learn about how to properly identify and manage cyber breach or any other risks please contact me at 732-395-4251 or [email protected].
