Did you know that October is Cyber Security Awareness Month? Neither did I…but this is a great time to review your current insurance program. We can quote cyber security insurance for your business in a few minutes so please reach out anytime to review options. If you run a restaurant, retail or hospitality business you have an above average risk of becoming a victim of a ransomware attack. Here’s what our company partner Philadelphia Insurance says about this threat:
Ransomware - a data-encrypting malware - typically exploits known software vulnerabilities and locks out users from accessing data and applications unless a sum is paid to the hacker (often in bitcoin or other cryptocurrency). While the extortion amounts alone can be significant, the additional costs may be even greater - network downtime can lead to lost productivity and income, expert forensic advice can be expensive, and publicity of the event can damage the firm's reputation. Even in cases where the business is able to restore from backups to avoid paying the ransom, the data restoration expenses can be substantial.
Read more here: https://www.phly.com/rms/blog/CyberThreat2018.aspx
Contact us anytime at 970-429-5700 or tim@outdoorinsurance.com for a quote.