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Cybersecurity Insurance to Protect Your Data

Cybersecurity is one of the foremost concerns of many companies today. Especially for small and medium businesses that utilize online sales. To face these unforeseeable attacks, you can prepare ahead of time by taking out a dependable cybersecurity insurance plan. This coverage gives you a chance to recoup what you might potentially lose in the face of a cyber-attack.

The risk of cyberattacks gets higher each year as online criminals continue to improve in their craft. They work around the clock, devising new and innovative methods to supersede whatever security software IT companies create. As a business owner, you must always be on your toes and ensure your network and data are secure. Ask yourself, is your business currently protected with the latest cybersecurity technology? If you’re like most business owners, you probably don’t have the time to worry about such things, but you should.

Boost Your Protection with Cybersecurity Insurance

It is wise to consider investing in a comprehensive cybersecurity insurance plan. Despite having seemingly ironclad protection, there is no 100% guarantee that hackers will not be able to penetrate your virtual walls. These crooks are extremely good at what they do. Just in case the unthinkable happens, and you fall victim to a nasty cyber incident, a cybersecurity insurance plan can at least help you recover some, if not all, of the losses and damages.

MSP Standards for Cybersecurity Insurance

As the need for cybersecurity insurance becomes more pressing, you must also become more discriminating in choosing a managed services provider to handle your cybersecurity insurance needs. However, as the business owner, you must fill out the form yourself instead of passing on this task to your MSP. However, your MSP can help you with much of the information you’ll need to fill out the form.

If you are working with a Managed Service Provider, it makes sense to ask them if they have the resources to connect you with a reliable cybersecurity insurance agent. They will undoubtedly have plenty of contacts, and it would be in their best interest to recommend the best agent for you. Of course, you can also find an agent on your own if you wish, but you do have to be wary of unscrupulous entities such as fly-by-night companies who will suddenly be unreachable when you want to make a claim.

Cyber insurance is recommended for all businesses these days. However, by no means will it make your business invincible against cybercrimes. Even after taking out a trustworthy policy, the MSP should continue providing first-class security solutions to your business. The more levels of top-quality protection you employ, the safer your business will be.

Why Choosing the Right MSP Is Important

Taking out an insurance policy for cybersecurity is not as simple as some business owners think. More than just adding such a plan, there is the matter of making sure you get paid back any losses.

Cybersecurity insurance can protect your business against financial loss caused by cyber-attacks. The plan may include coverage for financial losses. Such as data breaches, data theft, ransomware extortion payments, system or network takeover, and company losses. This coverage is even more important if you store your sensitive data on a local server in your office. These systems can be easily breached by hackers looking for an easy target. If this is the case and you do not wish to look into cyber insurance, you should consider storing your data in the cloud for enhanced security.

An experienced MSP can help you handle these procedures, and we recommend that you investigate them. Experts say that in 2022 the rate of cybercrime is expected to escalate even further. If you want to protect your assets, let us know! Let’s talk about how security, protection, and cyber insurance can help with the growth and success of your business in the coming year!

Most businesses have now gone digital, taking their processes online and storing data in the cloud and whatnot. While speedier transactions and greater portability make this technique very convenient, it also poses some risks. One of these is the risk of digital disasters and possible security breaches from all directions. In other words, if you aren’t vigilant, all of your company’s data can be stolen or encrypted. Do you have a disaster data recovery plan in place that meets all of your requirements?

 

Unforeseen Disasters And Breaches In 2021

 

In recent years, there have been numerous disasters that have affected global companies in different industries. Most of the attacks in 2021 came in the form of ransomware that took advantage of human gullibility.

 

The electronics company Acer took a hard blow in cyber-attacks in 2021. Overall, they ended up dealing with a $50 million ransom demand that a notorious hacking entity called ReEvil supposedly asked for in exchange for the return of a massive amount of stolen digital data.

 

In April of this year, Facebook suffered a security breach that exposed the personal information of over 530 million users. Screen scraping is a technique used by hackers to get information from websites. It’s how they were able to access the data files of almost 92% of LinkedIn members and obtain personal details like emails or phone numbers!

 

Because of the lockdowns and work-from-home setups, previously protected information became exposed in the digital world. Luckily, most companies had reliable security policies that protected data coming in and out of their office networks. However, with most individuals working remotely and using devices, it is difficult for a corporation to keep control over their security network, necessitating an upgrade.

 

The Importance Of Proper Preparation And Safeguarding Your SMB

 

Business owners often make the mistake of believing that something like this will never happen to their company. They like to believe that because they are a tiny firm, no hacker would be interested in attempting to compromise them. As a result, many don’t even bother to take precautionary measures to protect their small or medium-sized businesses from potential threats.

 

Unfortunately, small and medium-sized businesses are easy to crack and are typical targets of these hackers. Many companies lack the appropriate infrastructure and security tools to protect themselves from cyberattacks. To keep from being a victim, you must partner with a managed services provider that can provide you with an ironclad disaster data recovery plan.

 

Creating A Good Disaster Recovery Plan

 

Disaster data recovery is a serious matter that should not be taken lightly. The process of developing this plan entails a great deal of deliberation and decision-making.

 

Begin by defining a sensible recovery time objective (RTO). This process is the amount of time you expect to be fully back on track after disaster strikes. The shorter the RTO, the more expensive the disaster data recovery will be, so you need to consider this.

 

Also, make sure to clearly outline the duties and responsibilities of each individual employee in your organization. In addition, establish a clear communication plan as well as security protocols.

 

Of course, the most crucial parts of disaster data recovery are having offsite data backup and installing dependable and updated anti-spyware tools on all the devices used for business procedures. You should also test your disaster recovery plan with your staff. That is the only way to find out if it works.

 

Hire A Professional MSP For Disaster Recovery

 

As you can imagine, disaster recovery is a complex matter. If you want to know that your plan can protect you, the best option is to have a fully managed disaster data recovery solution from a reliable MSP. 2021 slammed us with a plethora of serious security threats for SMBs, and it’s scary to think of what 2022 might bring.

 

Ensure the safety of your company now before it is too late! Contact us today, and we will show you how.