Raja Munusamy’s Post

I’m not really that into thought leadership but in honor of #CybersecurityAwarenessMonth, I’m going to share a story with you that might save your 🍑 one day. For those of you who know me, I might have shared that my family was deeply impacted by a cyber incident a few years ago that resulted in the loss of almost $70,000. Those funds were not recoverable. My family member did a lot of things right when the threat first appeared, but eventually was coerced into moving money around. The attackers went so far as to spoof the bank’s actual phone number. There are a lot of details to this story that I won’t share, but here are some takeaways: ** You may think you wouldn’t fall for a cyber crime but attackers have sophisticated tools these days. And it’s their full time job to trick you. ** You can’t monitor your family’s interactions on the web or devices 100% of the time ** Identify Theft insurance IS NOT THE SAME as cyber insurance I’ve heard many personal horror stories from victims of cyber crimes that have suffered personal losses since joining Securily. And you want to know the craziest thing? I didn’t have cyber insurance until yesterday. I have personally seen my most cherished loved ones suffer, have heard accounts from others, and work to educate companies on the importance of maintaining a robust cybersecurity posture. I talk about business cyber insurance all the time and how a single cyber incident can destroy a small business. And it can also destroy your life. So yesterday (after being pushed by Allison Cutts to do so), I added a cyber policy from Blink. I chose the maximum amount of coverage (which is below what we would have needed a few years ago). And they even allowed me to add coverage for my family in separate households with whom I share online accounts with. I’m sure there are better providers our there, but this one was available as an add-on to my existing homeowner’s policy. Doing this sooner would have saved us a lot of heartache. Maybe it’ll save you some too. PS: Cyber insurance also covers things like cyber bullying and the direct outcomes. It can help cover mental health services for those who experience trauma as a result. PPS: My plan is costing me $25 a month to cover me + 2 households for 50k max coverage. Happy to take recs on other plans out there. PPPS: Here's a picture of me and my sweet mom about 24 hours after finding out about the cyber attack. We had been planning a trip to Scotland for nearly a year and the timing couldn't have been worse. We had a blast anyway.

If you think it can't happen to you, that's when you are most vulnerable. Please talk a cyber insurance company and work with a local IT provider to secure your business. These hackers are getting smarter and more organized. #CybersecurityAwarenessMonth

Cyber insurance has never been more crucial for businesses in Colorado. With the increasing threats and sophisticated cyberattacks, having the right protection in place can save your organization from potential financial ruin. Understanding cyber insurance and its importance is the first step towards safeguarding your business. In this article, we will delve into the key features of cyber insurance, the criteria for evaluating providers, and explore the top-rated options available in Colorado. Learn more below!

𝗖𝘆𝗯𝗲𝗿 𝗜𝗻𝘀𝘂𝗿𝗮𝗻𝗰𝗲: 𝗔 𝗧𝗮𝗹𝗲 𝗼𝗳 𝗧𝘄𝗼 𝗘𝗻𝘁𝗿𝗲𝗽𝗿𝗲𝗻𝗲𝘂𝗿𝘀 Once upon a time in a bustling city, there were two small business owners: Ravi and Anita. Both ran successful tech businesses, offering the latest gadgets and services. They were similar in many ways, but there was one big difference: Ravi had cyber insurance, while Anita did not. One day, Ravi and Anita were having coffee together. Anita: "Ravi, I heard about a local business that got hit by a ransomware attack. It got me thinking... Do you ever worry about things like that happening to you?" Ravi: "Oh, definitely. I actually have cyber insurance for my business." Anita: "Cyber insurance? What’s that all about?" Ravi smiled and began to explain. Ravi: "Cyber insurance is like a safety net for when things go wrong with your online security. If your data is stolen or your systems are hacked, it helps cover the costs and damages." Anita: "That sounds interesting. What kind of things does it cover?" Ravi: "It covers a lot. For example, it can take care of legal fees, recovery costs, and even losses from business interruption. So, if your website gets hacked and goes down, the insurance helps cover the expenses to get it back up and running." Anita: "Wow, that’s really helpful. Have you ever had to use it?" Ravi: "Yes, actually. Last year, we had a phishing attack that compromised some of our customer data. Fortunately, our cyber insurance covered the costs of informing our customers, legal fees, and even some public relations work to handle the situation." Anita: "That’s incredible! I bet it saved you a lot of stress and money." Ravi: "Absolutely. Without it, the situation could have been much worse. Plus, it reassured our customers that we were handling the issue responsibly." Anita: "I think I need to look into this for my business. Thanks for the tip, Ravi!" A few weeks later, Anita decided to get cyber insurance for her business. She realized that while her tech skills were top-notch, protecting her business from online threats was just as crucial. And so, both Ravi and Anita continued to thrive in their city, now with an extra layer of protection. __________ 𝘐𝘯 𝘵𝘰𝘥𝘢𝘺’𝘴 𝘥𝘪𝘨𝘪𝘵𝘢𝘭 𝘸𝘰𝘳𝘭𝘥, 𝘩𝘢𝘷𝘪𝘯𝘨 𝘤𝘺𝘣𝘦𝘳 𝘪𝘯𝘴𝘶𝘳𝘢𝘯𝘤𝘦 𝘪𝘴 𝘢𝘴 𝘪𝘮𝘱𝘰𝘳𝘵𝘢𝘯𝘵 𝘢𝘴 𝘩𝘢𝘷𝘪𝘯𝘨 𝘢 𝘴𝘦𝘤𝘶𝘳𝘪𝘵𝘺 𝘴𝘺𝘴𝘵𝘦𝘮. 𝘐𝘵’𝘴 𝘣𝘦𝘵𝘵𝘦𝘳 𝘵𝘰 𝘣𝘦 𝘱𝘳𝘦𝘱𝘢𝘳𝘦𝘥 𝘢𝘯𝘥 𝘱𝘳𝘰𝘵𝘦𝘤𝘵𝘦𝘥 𝘵𝘩𝘢𝘯 𝘵𝘰 𝘧𝘢𝘤𝘦 𝘵𝘩𝘦 𝘳𝘪𝘴𝘬𝘴 𝘰𝘧 𝘰𝘯𝘭𝘪𝘯𝘦 𝘵𝘩𝘳𝘦𝘢𝘵𝘴 𝘢𝘭𝘰𝘯𝘦. 𝘚𝘵𝘢𝘺 𝘴𝘢𝘧𝘦 𝘢𝘯𝘥 𝘴𝘦𝘤𝘶𝘳𝘦 𝘸𝘪𝘵𝘩 𝘵𝘩𝘦 𝘳𝘪𝘨𝘩𝘵 𝘪𝘯𝘴𝘶𝘳𝘢𝘯𝘤𝘦. 𝘍𝘰𝘳 𝘮𝘰𝘳𝘦 𝘵𝘪𝘱𝘴 𝘰𝘯 𝘱𝘳𝘰𝘵𝘦𝘤𝘵𝘪𝘯𝘨 𝘺𝘰𝘶𝘳 𝘣𝘶𝘴𝘪𝘯𝘦𝘴𝘴, 𝘷𝘪𝘴𝘪𝘵 𝘐𝘯𝘴𝘶𝘳𝘢𝘯𝘻𝘏𝘶𝘣.

Understanding Cyber Insurance: Ever wondered how to safeguard your digital kingdom? Cyber Insurance is the key, and we're unlocking its secrets! Why it Matters: Discover why Cyber Insurance is like having a spare tire for your online journey. Let's navigate the bumpy digital highway together. Navigating the Cyber Insurance Landscape: Unravel the complexities of Cyber Insurance policies with me. But remember, I'm not selling; I'm guiding. Always talk to an independent insurance agent for tailored advice. Spotlight on Cytracom's Control One: Explore the Swiss Army knife of cybersecurity tools – Cytracom's Control One Product. Your digital castle's best friend! 🛡️ Why Watch Today's Episode? Demystify Cyber Insurance with relatable analogies. Learn the importance of choosing the right policy for your unique needs. Get insights on the powerful tools enhancing your cybersecurity defenses. 👥 Join the Cyberstrong Community: Engage in the conversation! Share your thoughts, questions, and cyber experiences. Let's build a Cyberstrong community together. 📆 Don't Miss Out: Hit that subscribe button and turn on notifications. Stay informed, stay secure, and enjoy the journey of "Unlocking Cybersecurity."

Wondering if #CyberSecurityInsurance fits your needs? As threats evolve in frequency & sophistication, understanding your options, including #CyberSecurity insurance, is key to protecting yourself & your business. #DataProtection #CyberAwareness #ManagedITServices

If you suffer a breach and have to pay a ransom to regain access to your own systems, how do you know they won’t keep asking for more money? You don't. You’re reliant on a criminal to show mercy. But what are all the things you have to deal with during and after an attack? Did you know i`1t takes on average 21 days to recover from a ransomware attack (Pentest People). If, like the average company, you don’t have a strong and proactive security first MSP like Allixo, here’s what you’re going to have to deal with: .  😬 Panicking about what to do, what type of help you need and who to talk to about getting it 🤔 Figuring out whether you’re legally required to notify clients, government agencies or suppliers 🤔 Figuring out whether or not the attack has ended or is still ongoing  🫡 If it’s still ongoing, engaging your security team or following their instructions  🔎 Check if you have any cyber insurance and comb through policies to see if your situation is covered 😒 Feel annoyed if it turns out your company decided against paying the tiny fee for cover 🫡 Comply with a range of requests from your cyber insurance and their specialists 🤔 Work out if your team have the expertise needed to clean up any infected files 😨 Decide whether you need to reinstall a single app or Windows + every app used by your company 🔎 Check that you have backups and their file integrity to determine if they can even be used 🤔 Estimate how long it’ll take to fully restore all systems so you can plan when downtime happens 🤔 Decide whether to send everyone home and if so what work can be completed remotely  😨 Estimate the risk and damage to your brand’s reputation and financial stability if clients find out 🤯 Stress over the impact of clients later finding out you lied about or tried to cover up a breach 🤯 Panic about potential criminal charges or industry kickback that may hurt the business or your career  🤢 Understand whether this breach will have a direct negative impact to any of your clients 🤔 Calculate whether or not your cyber insurance policy will pay out enough to cover all costs 🤔 Figure out how to meet existing client commitments or explain why you’re not currently able to 🔎 Review your systems to see if they’re robust enough to determine how the hackers got in 🔎 Collect all the evidence requested by your cyber insurance company to unlock a payout  😬 Determine whether current systems can prevent reoccurrence or if you need to replace everything  Fun, fun, fun.  If you work with a security first MSP like us, you won’t need to worry about all that. Our systems will have all the data and we’ll have answers to all the questions above.  All we’ll need to focus on is stopping the attack, finding out how they got in and adding new layers of security to prevent it happening again.  Simple. Interested in simple? Let’s talk. 

Cyber insurance remains significantly underrepresented in the UK. At Pelican Business Insurance, our mission is to enlighten our clients about the potential risks associated with being uninsured against cyber threats, which are without a doubt, becoming increasingly prevalent. We firmly believe that every business should, at the very least, contemplate the merits of cyber insurance. Engaging in this process not only positions your business to better withstand potential cyber attacks but also reinforces the importance of robust cybersecurity measures and having a proficient IT partner or team. Ultimately, it provides you with the commercial insight necessary to make informed decisions about whether cyber insurance is right for your business. I'm delighted that I've successfully completed the latest Aviva Broker UK Cyber Insurance and Risk Professional course. Our entire team are doing the same and this investment underscores our commitment to providing top-notch service to our clients here at Pelican Business Insurance. Whether you're unsure about your stance on cyber insurance or it's been some time since you last evaluated your coverage, we're here to offer guidance and support. Let's schedule a conversation to discuss your cyber insurance needs.

What’s the deal with cyber insurance? We brought in Kim Theilgaard to break it down on our podcast. Kim is a partner at fairside. fairside advises companies on insurance, including cyber insurance. In this episode, Kim talks about: - What cyber insurance actually is - What it covers (and what it doesn’t) - What you need to have in place to get it - What to consider before getting one Remember, cyber insurance isn’t a substitute for good cybersecurity. It’s like house insurance—you still gotta lock your door. 😉🏡 You can find the podcast wherever you listen to podcasts. Enjoy!

Does your cyber insurance have your back, or will it leave you hanging? It’s that time again, renewal season for your cyber insurance. And with it comes the dreaded questionnaire packed with IT and security questions. Ever feel like these questions are designed to trip you up? You’re not alone! Many firms breeze through them without realizing the importance of every answer, until it’s too late. Here’s the deal: Insurance companies aren’t just being nosy. They’re covering their backs, making sure you’ve done your homework in protecting client data and firm assets. If something goes wrong, say a ransomware attack or a phishing scam, and your answers were inaccurate, your claim could get denied in a heartbeat. This is why it’s critical to answer these questions carefully and truthfully. Saying “Yes” to multi-factor authentication (MFA) when only a handful of users are using it can mean no payout when you need it most. And let’s face it, no one wants to be left holding the bill when hackers come knocking. So, how do you make this process less painful? 🚀 Stay prepared. Keep documentation of your IT policies and practices so you’re not scrambling during renewals. 🚀 Partner with your tech team. They can help you answer the trickier questions correctly and identify any gaps you might have overlooked. 🚀 Use the questionnaire as a checklist. If something isn’t in place, treat it as a nudge to level up your security. These renewals are more than just paperwork, they’re a chance to ensure your firm is secure and your insurance policy is solid. At the end of the day, it’s better to spend a little extra time getting it right than to find out later that your policy won’t back you up.