Business owners continue to struggle to grasp how cybersecurity—when paired with cyber security insurance—is vital to protecting their business continuity. Many small- and medium-sized enterprises continue to do nothing to protect themselves from a cyberattack, and most do not have standalone cyber insurance policies.
This lack of action poses a real risk to these businesses. Consider that 60% of small businesses fold within six months of a cyberattack, according to Inc. Magazine, which stated: “The best defense is a good offense. Make it a priority to protect your data for the benefit of your employees, your customers and the long-term health of your business.”
Business owners need to understand the critical nature of security and insurance for their own business continuity. Concerns are only growing, as states implement new laws to protect consumers’ data.
This article will identify why cyber security protection is vital; why it is required for independent agents; and why businesses need to understand what can or will be impacted if they don’t take cyber security vulnerability seriously.
Read the full article, published in PIA Magazine, written by Jeff Holmes, SVP and COO of SIAA – reprinted with the permission from PIA Management Services Inc.