The human corona-virus has been very damaging for most everyone. From small businesses, to individuals, to the largest of corporations, we’ve all been shaken. Let’s hope that we are nearing a comeback—one of great strength and growth. Six short months ago, not many people were thinking about COVID-19 and the effect it may make on business… but here we are. While we now feel the full effects of the corona-virus, what could possibly be next? There are many more invisible enemies to your business: hackers, viruses, and ransomware-hostage-takers.
You may be thinking, no way, I’m not susceptible. Yes, you are. We all are. Make no mistake about it, hackers are good at what they do. Hopefully this checklist will help you see some of the threats on the horizon:
1. Do you process credit cards? Sensitive information such as payment information is sensitive date.
2. Do you use email? One click on a bad link could jeopardize your entire network with malware.
3. How many clients do you have? If you were hacked, legally you must notify everyone of their compromised information. Notification expenses can quickly add up.
4. How much money would you lose each day if your systems/networks were locked up? Hackers love to hold your network hostage and force you to pay a ransom.
5. Do you conduct business through a website? If your website is shut down, you will lose money and clientele.
In your risk management strategy, cyber insurance is CRITICAL. As the world moves forward, electronics and internet continue to integrate with every human function. As they grow, the risks to your business also increase. Cyber insurance may seem like the internet did to The Today Show cast in 1995, but look where we are today. We have two-year-olds with the ability to navigate an iPhone. Cyber insurance is an invaluable tool to add to your business.