Cyber Risk

“An ounce of prevention is worth a pound of cure!” Ben Franklin

Ben Franklin knew the secret of dealing with cyber risk centuries before the concept was even imagined.  Small proactive efforts of prevention are usually significantly less expensive than curing a big mistake. Unfortunately, today’s business owners are risking their biggest asset by ignoring what needs to be done.

The concept of cyber risk has been evolving quickly over the last 10 years. It is no longer a question of if your organization will be breached, but rather how many times it will be breached. Most businesses have been slow to adapt to this new reality because of some common myths surrounding cyber risk.

Myth #1: This is not a risk for a company our size.

Reality: As larger companies respond to attacks with
strong defenses, hackers are shifting their efforts to smaller
companies as easy pickings.

Myth #2: We are confident that our computer data is secure.

Reality: Read your contracts with vendors. You will find that they
push responsibility back to you or limit their responsibility following
a breach. Most breaches occur from paper files and social media.

Myth #3: We purchase a lot of insurance, surely we already have protection.

Reality: All traditional insurance solutions are built around
tangible losses. Cyber by its nature is intangible and is not
properly addressed in historical insurance solutions.

Myth #4:  Cyber Insurance is expensive.

Reality: The average cost of cyber insurance is 25%
of what it was 5 years ago.

If you are committed to proactively Turning Risk into Opportunity we would like to talk with you.

Cybersecurity

The Portland Business Journal hosted a Thought Leader Forum on July 9, 2015 featuring a panel of five local cybersecurity experts who shared their wisdom on a range of topics, from assessment and prevention to crisis management. Miller Insurance was honored to be one of the experts and is featured in the July 24, 2015 issue of the Portland Business Journal’s article, Keeping Your Business Assets Safe from Prying Eyes.

Click here to view article.

 

Cyber Risk Self-Assessment

Not sure of the level of cyber risk your organization has? Watch a video then take our online cyber risk self-assessment.
CYBER RISK VIDEO AND SELF-ASSESSMENT