The Responsibility of Cybersecurity
In the healthcare industry, HIPAA sets rules and regulations around the requirements of protecting patient data. But in the “rest of the world”, professionally speaking there are unspoken rules, but not the same type of enforcement program in place. A lawsuit might be considered the equivalent of a HIPAA fine – both damaging but perhaps in different ways.
Cybersecurity is (or should be) a critical concern for businesses of all sizes. With the increasing frequency and sophistication of cyber threats, it is more important than ever for businesses to maintain a robust cybersecurity program. This program should be an integral part of a company’s overall risk management strategy and should be taken seriously by all stakeholders.
Cyber Insurance Liability
Misrepresenting yourself is easy to do in a world where many of our interactions exist online. Why not put that profile photo of yourself up at the gym from a few years ago when you actually went there regularly? You’ll eventually get back to working out. There’s no harm in it. Deceptive? Sort of. But in a situation like that, while misleading, it likely won’t cause issues if uncovered.
But what about misrepresentation when it comes to your business? If you apply for cyber insurance and have cybersecurity measures and tools that you’ve purchased but don’t use, is it lying to say that they are “in place”?
Partnerships We Love: Breach Secure Now and Inskyber
We take thee for better or for worse, in good times and in bad, in sickness and in health…we will be there for you in your time of need…. ah, the familiar words we hear as two parties engage at the beginning of their road together. You’re in it together and promise to stand by each other when the going gets…well, not so good.
And what better partnership for when the going gets tough, than to have a good insurance provider? That’s why we love Inskyber.
The Breach Prevention Platform Has Been Launched!
On Friday we launched the Breach Secure Now! Breach Prevention Platform (BPP)! The BPP is a security service built for MSPs to help lower the chance of a client having a data breach. The MSP branded service includes:
MSPs: Defending Yourself from Data Breach Lawsuits
In the mistaken belief that their companies are not big enough to attract data thieves, small and midsize businesses notoriously resist tightening their IT security, ranking it as a low priority. Yet, when those same SMBs experience a data breach, they sometimes point the finger at their MSPs. Worse, they may file lawsuits and haul their providers into court to recoup financial losses from the breach.
Top 5 Cyber Risks for Businesses
Travelers Insurance put together the top 5 cyber risks for businesses. There are no surprises in their list. They not only look at each risk but give associated costs with each risk. Let’s take a look at the top risks.
Cyber Risk #1: Human Error: Lost and Stolen Laptops and Smartphones
Everyone at one time has lost or misplaced their phone or laptop. Unfortunately mobile devices are easy to loose.
MSPs: If your client has a data breach they will blame you
As we talk to potential MSP partners and give presentations at ASCII and MAXfocus events, we are starting to hear a common message:
I worried about providing security services to my clients because they may hold me legally responsible if they have a data breach.
You can understand why MSPs might think that not discussing security would help them avoid legal liability. No one wants to be in the position where they told a client “if you implement these security measures, you will not have a data breach”. Then if the client does have a data breach the MSP bears the responsibility.
Survey: Companies worried about disclosure of PII
A survey by Mayer Brown shows companies consider the disclosure of PII the biggest cyber related threat.
Survey respondents overwhelmingly considered the disclosure of personally, identifiable information as the biggest cyber-related threat to their companies (63%). Concern about interruption of business operations such as system sabotage ranked second (24%).
Cyber risk the most serious threat to business, says Lloyd’s chief
The CEO of Lloyd’s of London, one of the largest insurance companies in the world, says that cyber risk is the most serious threat to businesses
Inga Beale, chief executive of Lloyd’s, said: “Cyber risk poses the most serious threat to businesses and national economies, and it’s an issue that’s not going to go away.
This threat is driving a big push for Cyber Insurance
Why Choose Breach Secure Now?
Breach Secure Now! can help your MSP move from Managed Services to Managed Security Services.