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Should Your Business Be Preparing for GDPR? (Spoiler Alert: Yes)
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It's the punch that you didn't see coming, that knocks you out.
We want to be more connected but, connectivity increases our risk for cyberattacks. It's quite the paradox. Stay plugged into what matters, while sharpening up on your cyber risks, and implement practical steps to prepare, recover, and limit liability.
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Understanding your cyber vulnerabilities, whether from an external attack or human error, is a critical first step in reducing their impact. Get expert insight on the human and technical dynamics of cyber risk, along with practical ways to protect your business from loss and liability.
Large organization or small, from your reputation to your bottom line, cyber incidents can hit hard. Soften the blow and bounce back quickly with a game plan that’s ready for the worst.
At the intersection of technology and businesses liability, our Cyber Risk Practice can help you prepare for, deal with and quickly recover from any cyber incident.
On a Friday before a recent July 4th weekend, a small, regional accounting firm discovered a breach of its database, primarily targeting clients who were expecting to receive five-figure tax refunds. Hackers stole the credentials of employees who were filing the tax returns, and they changed the bank account numbers on the returns to ones the hackers controlled.
The accounting firm called the toll-free number on their cyber insurance policy to report the incident. When they hadn’t heard back by noon on Saturday, they contacted Risk Strategies’ Cyber Risk response hotline, and within an hour, Risk Strategies had the client in touch with the right experts to assist with the investigation and notify regulators and those affected. In the end, the accounting firm’s insurance company paid a claim of approximately $250,000, including protection for the firm’s clients who had been hacked.
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A frequent speaker and thought leader on cyber risk, Rob maintains a designation as a Registered Professional Liability Underwriter (RPLU). Coming to Risk Strategies through the acquisition of the DeWitt Stern Group in 2014, Rob’s relationships in the domestic and London carrier marketplaces have enabled the company to tailor proprietary cyber liability products for clients.
