According to a McKinsey survey, the COVID-19 pandemic sped up digital transformation — or digitalization — by several years. Digital interactions between customers and organizations soared to 58%, three years ahead of expectations. And the percentage of businesses that now offer some form of digital product or service is at 55%, seven years ahead of […]
The year 2021 saw ransomware attacks rising by a jaw-dropping 92%. And 22 billion records were exposed across 4,145 publicly disclosed attacks. Considering that a breach will cost companies an average of $4.5 million, the need for cyber insurance has never been so high. But what is cyber insurance exactly, and is it right for […]
Why oh why is cybersecurity so complex? I was at an event recently and the keynote speaker talked about how security is unique in its incredibly minimal consolidation. In the cloud, you have arguably three major players (Amazon, Microsoft, and Google). In mobile phones a few. In almost any area of life, consolidation happens (auto’s […]
Risk management is a core part of any organization’s business processes. Without the ability to manage risk, an unforeseen event could put the company out of business. Effective and comprehensive risk management requires an understanding of what can go wrong, how to minimize the probability of a risk event occurring, and how to recover if […]
SMEs have little wiggle room regarding cybersecurity. Smaller budgets and fewer dedicated security resources mean that cyberattack attempts are more likely to penetrate an SME’s defenses than those of a larger company. Forty-three percent of all cyberattacks are aimed directly at small to medium businesses, and only 14% of SMEs are ready to defend against […]
If there’s one thing we can definitely say about the post-2020 era is that we’re all more open to “going digital.” This comes with its own advantages and disadvantages. We are more open to remote work, and have access to more opportunities than ever, but we’re also more likely to become victims of cybercrime too. […]
Top 3 Reasons Cyber Insurance Policies Make Sense for SMEs Threat actors don’t discriminate and often leverage advanced attacks that are deployed continuously, ready to hit companies that may not have the resources, technology, or awareness to properly defend themselves. This often results in SMEs taking the brunt of these attacks. As a result, almost […]
Remember the good old days when ransomware wasn’t so rampant across industries and all types of companies, large and small? Us too. Unfortunately, the way in which hackers are using ransomware has changed significantly in the last several years, leaving every company vulnerable. So, many companies have turned to cyber insurance to protect their bottom […]
It’s no surprise that data breaches and cyberattacks are on the rise. The Identity Theft Resource Center issued a press release in October of 2021 saying that the number of data breaches that had occurred in 2021 through September had already surpassed the number of attacks in all of 2020 — a year in which small […]
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