Know Your Risk

While cybersecurity insurance has been available for over 20 years, both the market and the industry are rapidly changing. While initially created to protect individuals and businesses from internet based risks (including hacking and phishing), businesses' increased dependence on data storage and digital communication has pushed the industry to grow beyond its ability to assess risk. Not so long ago, coverage for cyberhacker damages might have been included in a standard commercial property and casualty insurance policy. But with the costs from malicious acts rising as quickly as bad actors find their way past the newest security measures, dedicated cybersecurity policies are now the go-to for businesses looking for protection. 

Imagine one of your vendors calling to ask when they might receive payment for the last three months of service. Confused, you check your records and sure enough, you show each month’s payment was made on time. Perhaps you wonder if this might have something to do with the vendor's change in banking that coincided with your missed payments beginning. However, your vendor confirms all payments should still be coming to the original routing number. So where have your payments gone?

Did you know that for the past 19 years October has been declared Cybersecurity Awareness Month? Since 2004, government and industry have collaborated to raise cybersecurity awareness and help ensure all Americans have access to the information and tools needed to stay safe and secure online.

Whatever businesses believed before March of 2020, pandemic circumstances forced them to test their ability to function with a work-from-home workforce. Two and a half years later, it’s clear remote and hybrid policies will be a permanent part of the employee handbook; as Glassdoor reports, 45% of the 2021 workforce expects to continue to benefit from having options when deciding where to clock their working hours. While it is clear companies large and small will need to continue to integrate remote work into the daily plan, ensuring the security of the devices and applications used outside of the physical workplace will also need to be an even more critical part of the daily plan. 

Managed Detection and Response (MDR) brings modern technology and human expertise together to offer organizations remotely delivered modern security operations center (MSOC) functions at a reasonable cost.