According to SC Magazine, nearly 60% of small businesses that fail within six months of being hacked. According to A study published by The Business Journals it is estimated that more than 550,000 small and mid-sized businesses shut down in 2017 because of a cyber incident.
Firms that go out of business because of a cyber-attack are feeling the effects faster than ever before. Cyber breaches may be inevitable, but the best companies limit their frequency and damage, while learning how to improve security.
Cybersecurity until recently has focused on preventing attacks. However, companies that rely too much on prevention may be caught out if they haven’t also planned what to do after their defenses have been penetrated.
Most companies do not have an incident-response plan, nor do they have a proper partner when the crisis happens. Many organizations do not recognize that breaches are inevitable.
We provide a combination of proactive and reactive risk mitigation strategies.
On the proactive side, your member portal provides a content rich digital resource center designed to help you understand your exposures, establish a response plan, provide employee cyber awareness training, and minimize the effects of a breach should an incident occur. The digital resource center includes:
- Incident Roadmap: Suggested steps to take following a network or data breach.
- News Center: Cyber risk stories, blogs, security news and industry links.
- Learning Center: Best-practices articles and informative webinars.
- Risk Manager Tools: Prevent a breach, or respond to one quickly if it occurs.
- Risk Resources Directory: Quickly find external pre- and post-breach resources.
In addition, members receive cyber threat alerts designed to improve their situational awareness. These threat alerts enables organizations to make better security decisions that enhance an organization's defensive capabilities.
After a breach has occurred, we provide cyber risk protection that will minimize the legal and financial risks associated with a breach. Members minimize these risks through a unique combination of legal and insurance protections. Through access to $100,000 of cyber insurance, members can protects their business from the impact of financial loss. We also help you comply with the Cybersecurity Information Sharing Act (CISA). CISA compliance limits companies’ liability in lawsuits that cannot be replicated in a cyber insurance product.