Tag Archives: Cyber Insurance
Computer Security Day Is Coming Up: Protect Your Business From Cyber Attacks
On November 30th, we will celebrate the international holiday Computer Security Day. The day was created in 1988, when computers started to become ubiquitous in business and in people’s personal lives. Since then, the day has served as a reminder to be aware of computer security and to protect against cyber risks. There are multiple things that you can do at your business during this day in order to protect …
Top Cyber Liabilities For Businesses
As technology has evolved, so have the ways in which it can be exploited. As October is National Cyber Security Awareness month, it’s important that every business take a look at their current cyber practices and the new trends in technology in order to be aware of potential sources for cyber attacks and to protect themselves accordingly. In addition to having Cyber Liability insurance to cover them in the event …
Artificial Intelligence in the Workplace and Cyber Security Concerns
Many of you have probably used some form of artificial intelligence in your day-to-day lives, whether it is using Amazon’s Echo or Apple’s Siri to gain information or Tesla’s Autopilot feature on the road. Artificial intelligence isn’t just growing in our everyday lives; many businesses today are starting to implement artificial intelligence and machine learning into their workplaces to perform certain duties, increase productivity, and take some of the strain …
Cyber Crime: WannaCry Screams the Need to Protect Against Ransomware
Ransomware as a threat has been on the scene for a while, but it’s increasingly rising and widespread. Take a look at WannaCry, the recent ransomware that affected more than 200,000 computer systems in more than 150 countries and crippled transportation and hospitals globally. The majority affected were Windows-based computers that were not updated with a recently available and easily deployed patch.
Ransomware is a type of malware that, upon …
Cyber Trends for 2017: Are You Prepared?
Last year, executives, consumers, and even the election were hit by data leaks, malware, phishing attacks, and ransomware. In fact, according to Carbonite, an online backup service, almost one in five small business owners say their company has had a loss of data in the past year. Carbonite and other industry experts expect this number to grow this year, particularly for small businesses that lack the resources of …
Cyber Trends: Growing Demand for Coverage in Professional Services
A number of trends and shifts in Cyber Liability Insurance, a much-needed insurance solution, were cited in the survey’s recent report:
- There is an increasing demand for cyber insurance coverage in sectors beyond healthcare, retail, and financial institutions, such as professional services.
- There have been shifts in the factors driving cyber sales, especially as more third parties are requiring the coverage.
- The importance of first-party coverage is changing as new
Cyber Security and the Role of CPAs with Clients
A new report by joint IMA (Institute of Management Accountants) and Association of Chartered Certified Accountants (ACCA),“Cybersecurity – Fighting Crime’s Enfant Terrible,” underscores the extent to which cyber security has become an issue for all industries and how the accounting industry can be instrumental in stemming cyber losses for their clientele.
According to the report, “no one can afford to be a cyber-fool.” Accountants and finance professionals can – and …
Why Securing Cyber Insurance from Specialists is Important
Not All Cyber Policies Are Created Equal, Respond to Specific Exposures
While Cyber Liability, also known as Privacy & Network Security insurance, has been in existence for a decade, it’s over the past few years, as a result of high-profile cases and the frequency of data breaches, that the critical importance of this coverage has come to light for all business across all industry sectors. Today, there are more …
Cyber Insurance: Reputational Damage, Loss of Customers Fall-Out from Data Breaches
New Study Shows Reputation, Loss of Customer Loyalty Cause Most Damage to Bottom Line
We’ve all been watching closely the fall-out from Target’s data breach during the holidays late last year when the retailer disclosed that 40 million credit card and debit cardholders were compromised. A month later in January, Target raised its number of customers affected by the breach to 70 million and lowered its fourth-quarter profit forecast (in …
Is Your Business Insured Against Data Breaches?
National Cyber Security Awareness Month Puts Focus on Cyber Threats
At Axis Insurance Services, LLC, one of our top priorities is to work with clients to make sure they fully understand the threats they face in the digital age… and this goes for all clients across all industries. Whether you’re a small business, tech company, retail operation, hotel chain, medical facility, municipality, nonprofit, or large publicly traded corporation, your …
