Cyber Security – at the forefront of risks feared by the boardroom

Whether a large or small business, the fear of cyber crime is on the minds of people in the corner offices.  The sands have shifted, and cyber risk is no longer a tactical issue, relegated to the IT department, but rather at the forefront of the minds of C level individuals in companies throughout the world. 

While security measures and the tools available to fight cyber crime have increased, so has the sophistication of the cyber thieves.  Cyber crime syndicates are hiring the best and the brightest talent – and paying them handsomely.  The rewards are great – there is big money to be made selling intellectual property and customer data.

A recent study by a major insurance company found only 38% of companies said their cyber security is aligned with their organizations risk management.  In addition to investments in security and training companies have increasingly found transferring some of the risk through cyber security insurance to be the best option.

Cyber security is not a fad, with more and more of the things we do today being digital, the exposures will continue to escalate.  And, the costs are not just financial, but reputational.  What would the impact be on your business if there was a data breach tomorrow?

Don’t become a statistic.  Let us review your exposure to risk in this important area to ensure you are protected.