SAWOO’s Post

I read a great article recently about the changing landscape of cyber insurance. Here are some thoughts on this... 99% of all claims come from SMBs (annual revenue of under $2B). Which makes sense, right? Most SMBs don't put security near the top of their priority list. They're focused on running and growing their businesses, which can leave them vulnerable to attacks. 💼📈 After all, bad actors are always looking for the path of least resistance. Most SMBs fit that bill perfectly. 🎯 Just a few years ago, cyber insurance was relatively easy to get AND it was affordable. Today, that just isn't the case. Mainly due to the fact that insurers are really getting picky about who they insure. Who can blame them? We're seeing this happen in real time with other types of coverage: property, auto, liability etc. It's all going up. 📈💸 If your organization does not prioritize security, nor does it have basic security measures in place, it is incredibly risky to insure you. This can result in your business paying huge amounts for coverage, if you're even able to get coverage at all. So, my message to business owners is this: Prioritize and invest in securing your technology and your data. Your business literally depends on it. You can kill 2 birds with 1 stone. You can secure your business AND, in most cases, save money on your cyber insurance premiums. The less risky you are to insurers, the lower your premiums can be. If you aren't sure where you stand, I can help. We have a great team of people that can give you a very honest and blunt assessment of your environment. There are things you can be doing, most of which do not require a huge monetary investment, that will significantly improve your security posture. 👍🔧 #CyberSecurity #CyberInsurance #SMBSecurity #BusinessProtection #DataSecurity #TechInvestment #SecurityAwareness #RiskManagement #InsuranceTrends #CyberThreats #SmallBusiness #TechSafety #SecurityPosture #BusinessGrowth #CyberResilience #ITSecurity

In the latest episode of the #Cybersafe Digest Weekly Podcast, Episode 18, our hosts discussed the importance of Cyber Insurance for businesses. If you are responsible for the finances of your business or can talk to someone who is, it is vital to emphasise the importance of getting Cyber Insurance to avoid potential financial disaster in the future. As we discuss below, it is no longer a question of whether #CyberInsurance is worth it, but can your business even get it? Don't be reactive to #cyberattacks, be proactive for your business 👇 Podcast links in the comments! #BeCybersafe

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."

  Cyber threats abound, and lawyers and law firms are prime targets due to the sensitive nature of the information they hold. As such, cyber insurance is becoming a necessity, but many feel overwhelmed by the numerous options available and how policies change as cyber risks evolve.   In this State Bar of Michigan On Balance podcast episode, Judy Selby shares her expertise on this complicated topic, explaining what to look for in a policy, different types of coverage and limitations, and how to ensure that a policy will meet the unique needs of your law firm.   Tune in to our latest episode to learn more about protecting your practice with cyber insurance. #CyberInsurance #CyberSecurity #LegalRiskManagement #Lawyers #LawFirmManagement #DataProtection #LegalTech #CyberThreats #LawFirmSecurity #AttorneyResources   🔗 [Listen to the podcast] (https://lnkd.in/eHZcNdE6)  

At #InsurazHub, we often hear remarkable stories from our clients about how our services have helped them in times of need. Recently, we received a heartfelt account from Sahana, the owner of "Sweet Delights," a beloved online bakery. Her experience with cyber insurance is a testament to the value of being prepared for digital threats. One sunny morning, Sahana logged into her computer, ready to manage the day's orders. To her shock, her website was down, and she soon discovered it had been hacked. Customer information was compromised, and Sweet Delights was unable to process orders. Sahana felt an overwhelming sense of panic. Her business, which she had built from scratch, was in jeopardy. In the midst of her anxiety, Sahana remembered her cyber insurance policy with Insuranzhub. She quickly reached out to us. Our representative, understanding the urgency, immediately reassured Sahana that we were there to help her through this crisis. First, we addressed her immediate concern: the loss of income. With her website down, Sahana was losing sales every day. Her policy included coverage for income loss, ensuring she had the financial support to keep her business running during this difficult time. Next, we helped her restore her business operations. Sahana’s policy provided the necessary funds to hire experts who could fix her website and get Sweet Delights back online. Knowing that these costs were covered allowed Sahana to focus on recovery without the added financial stress. Legal assistance was another critical aspect of her coverage. Dealing with the aftermath of a hack involves navigating complex legal issues, but Sahana didn’t have to face this alone. Our policy covered her legal expenses, ensuring she had expert guidance to protect her business. Data recovery was perhaps the most challenging part. The hack had compromised sensitive customer information, and Sahana needed professional help to recover it. The cost of these services can be substantial, but with her cyber insurance, Sahana didn’t have to bear this burden alone. Our policy covered the expenses, allowing her to restore her customers' trust and secure her business data. Throughout this ordeal, Sahana felt supported and reassured. Her cyber insurance wasn’t just a safety net; it was an active lifeline that helped her navigate a challenging situation. With her website restored and her business back on track, Sahana could once again focus on what she loves – creating delicious treats for her customers. Sahana’s story is a powerful reminder of why cyber insurance is so important, especially for small business owners. At InsuranzHub, we are proud to offer policies that provide real support when it’s needed most. Sahana’s experience shows that while we can’t prevent every problem, we can ensure you have the help you need to overcome them.

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.

🔥Crazy Idea Alert!🔥 Think of Cyber Insurance. Let's pause right there… seriously. Enter the mind palace and mull over that phrase Cyber Insurance . It's 2021 and we are talking about insuring cyber space! Can this be any more futuristic? 👉 Picture this: an unexpected catastrophe befalls your data – a cyber ambush and POOF! That dazzling edifice of your enterprise’s data is now a smoky ruin. This isn't a Hitchcock thriller but reality for countless businesses. 😯 Shocking, right? But wait, there's a twist… * Enter Cyber Insurance, the bodyguard you never knew you needed. * A safety net, prepared to catch you when calamity strikes. * A necessity, not a luxury, in today's digital economy. You might ask - is it even worth it? Why, YES! ABSOLUTELY! 🔥 🔸 It's cost effective. You'll end up paying pennies considering the price of a data disaster. 🔸 Got your back in legal troubles. If a breach results in lawsuits, your cyber-insurance is your shark in the courtroom. 🔸 PR Rescue. We all know the media circus that comes with big data breaches. Your insurer will help manage the chaos, so you can get back to business. Still not convinced? Please REMEMBER: Ignoring Cyber Insurance is like driving a beautiful car and not wearing a seatbelt. You'd never risk it. The time to insure your digital assets is NOW. 👊Be vigilant. Be insured. Take action! As Albert Einstein once said, In the middle of difficulty, lies opportunity. Cyber Insurance is exactly the tempest-turner we need; turning cyber threats into an opportunity for fortifying our defenses. Be the trailblazer in your space leading the charge to make Cyber Insurance a standard, not a supplement 🔥 At the end of the day, it’s all about PROACTIVITY over REACTIVITY. Because the future waits for no one! Who’s with me? Let’s not just protect our IT systems, but champion Cyber Insurance to protect our BUSINESS, our PEOPLE, and our INTEGRITY! 🚀 #cybersecurity #insurance #businesscontinuity #riskmanagement

Navigating the cyber insurance market can be challenging due to rising cyberattacks and limited historical data. Surprisingly, cyber insurance premiums decreased in 2024. Find out why and get tips to lower your business's premium in our latest article ⬇️ #cybersecurity #cyberinsurance

Looking for a great podcast episode to enjoy on your summer holiday? 🎧😎 We've got you covered. Ever wondered what cyber insurance is all about? We brought in Kim Theilgaard to break it down on our podcast. Kim is a partner at fairside who helps companies with all kinds of 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 Just remember, cyber insurance isn’t a substitute for good cybersecurity. It’s like having house insurance—you still need to lock your doors. You can find the podcast wherever you listen to podcasts 😉 Enjoy the episode!

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!