08.24.06
Cyber Risk: Are You Covered?
Computers, technology and the Internet have not only transformed the way we think about business, but the way in which we conduct it. Opportunities abound for almost every type of business to embrace these new innovations, and most have. Technology is truly an asset.However, with all good things also come risk and potential liabilities. As businesses become more information-based, their vulnerability to possible attacks by cyber-criminals also increase. And, do not assume that this is just a problem faced by large corporations because its not. More and more small and mid-size businesses are being targeted daily because they lack the adequate resources to shore up their computer systems. As a result, not only is sensitive proprietary and client information at risk, but so are your sales and customer-base.
By taking the time to review your current business practices, you may end up not only stopping a would-back cyber criminal from hacking your system, but reducing your chances of a lawsuit. Business owners should:
- Assess and Prioritize Vulnerabilities
- Evaluate Security for Intellectual Property
- Enforce In-House Security
- Extend Security Beyond Technology to Employees
- Create Security Audit Checklists
For a detailed explanation of these and other tips on how to shore up your security and protect your information, read “Cyber Risk: Insuring the Escalating Threats from New Technology Exposures” by Brad Gow.
