The change in business operations, during the pandemic, has created new exposures for your business. In order to accommodate staff working from home, businesses are using new software and staff is making greater use of public internet. Those changes have increased the risk of a cyber incident that could adversely impact your business.
Many businesses rely on their network and anti-virus security systems, malware and cyber security training, to protect them from cyber injury. Recent headlines reported that Jeff Bezos, the richest man in the world, and former president Barack Obama, were hacked. I do not know the sophistication of the network security that these two gentlemen employ, but I suspect it is significantly more sophisticated than the average business. My point is that if Jeff Bezos and President Barack Obama can be hacked, no one is safe from a cyber injury.
The cyber criminals are more aggressive and savvy than ever before. A recent report from Verizon noted that 55% of the 2019 breach reports they reviewed were connected to organized crime. The cyber criminals are a step or two ahead of the defenses available to most businesses.
As a result, cyber insurance coverage is more important than ever for businesses. If you can not prevent the loss from happening, it is important to have a quality comprehensive cyber insurance policy to compensate you in the event of a loss. It is also important to have expert cyber liability attorneys and security professionals provided by your carrier to assist you if there is an incident.
Kaestner & Berry offers SafeLaw, a cyber product designed specifically for law firms.
Protect your firm from:
- Lost revenues as a result from being shut down due to a cyber incident;
- Regulatory fines;
- Legal action from clients;
- Fraudulent fund transfers; and
- Damage to your reputation.
Contact Kaestner & Berry for a no obligation cyber/security breach policy quote to protect your business. Pricing can be as low as $500 for the year!