Posted on 3/27/2017 10:33 AM By Keith Savino
It is similar to a Chess Game, but different:
Each day, the small business owner is busy focusing on running his shop. He has customers to please, suppliers to deal with, product to promote and daily issues to address. He has little time each day to consider of all the ramifications of making sure that all his data is protected. He knows that it is important, but with all his responsibilities, he cannot give this aspect of his business, the attention it deserves.
The hacker, sits in front of the computer, focused on the task of stealing your data. That is his day, his purpose, his job and he is very good at it. He knows that the small business owner has many things to concentrate on. He understands “small business vulnerability” and he uses it to his advantage. He also knows that big business has teams dedicated to making sure that their data is secure and firewalls are strong, so he chooses to target the mom and pop shops.
One player is focused on the game, the other di ...
Posted on 10/24/2016 8:00 AM By Keith Savino
An article came across my desk last week, that immediately caught my attention. A recent story in CFO online magazine has given me the news I had been hoping for. Finally, I am seeing the results of everything I have been working for, recommending, advocating and advising my clients, for the last 10-years….
Love this statistic:
“A September survey by the Risk and Insurance Management Society found that 80% of the companies recently surveyed, purchased a stand-alone cyber-security policy in 2016.”
The takeaway: Policies covering exclusively cyber exposures are becoming the new normal for many large companies.
Yahoo! Mail, is one of the largest and latest data hacks that has grab headlines since Sept 22nd. More than 500 million users saw their passwords, phone numbers and other information accessed in an ongoing data breach. This continuous cavalcade of data breaches, ransom-ware, cyber extortions, theft of trade secrets and theft of intellectual property, has affected major corporation ...
Posted on 7/18/2016 5:00 AM By Keith Savino
I find it fascinating …
I have been immersed in the insurance industry for close to 30 years now. I serve on industry boards, I speak at conferences and my clients consist of businessmen from Fortune 500 companies to the Mom and Pop shop down from our Corporate Headquarters. I have sat with entrepreneurs that are just beginning in the world of small business, to executives who have 40 years in their chosen industry. They often inquire as to my opinion on insurance for their company and I am happy to give them advice and recommendations.
But it is simply fascinating to me that often when I mention Cyber-Security Insurance, businessmen that I am speaking to, often look at me with confusion, unsureness and complete doubt. It seems to me, that many business people, I talk to, are under the false impression that:
*We are too large to have any security issues – Our company has invested into the most sophisticated firewalls and blocking mechanisms currently available for our information system ...
Posted on 6/17/2016 8:10 PM By Keith Savino
Usually in movies they are portrayed as a maniacal recluse. Sitting in front of multiple computer screens, with AC/DC blasting and crumpled cups of coffee and Red Bull scattered all over the desk and the floor. Or as a “V for Vendetta”, Guy Fawkes-styled freedom fighters with a score to settle. Cyber Criminals, Hackers, Data Thieves are the designations we have given them. And they come in all shapes, sizes and forms, from all walks of life, male/female, rich and poor.
Their motivation is as varied as their backgrounds. Some choose to become hackers because they seek revenge on someone who betrayed them. This category includes employees of businesses; citizens angry against the government; lovers who feel they have been wronged. Other cyber criminals are looking for monetary gain, often holding data “hostage”. Businesses need to pay a “ransom’ to receive a “key” to be able to unlock and access their data.
Since the inception of mainframes and shared/networke ...
Posted on 11/2/2015 8:00 AM By Keith Savino
Saturday was the conclusion of Cyber Awareness Month. To give you a bit of background, President Obama designated October as National Cyber Security Awareness Month, “to engage and educate public and private sector partners through events and initiatives with the goal of raising awareness about cyber-security and increasing the resiliency of the nation in the event of a cyber incident.”
The Department of Homeland Security, whose purpose is to secure the nation from threats, is the designated "lead agency" concerning all civilian computer systems and infrastructure. The department's focus is defensive, (providing and dispersing information to prevent data from becoming compromised) and responsive, (distributing threat warnings, reacting to data breaches). The DHS's mission is simply to make you aware of the threat, work to minimize it, and handle the repercussions when a data breach occurs.
And although the DHS and other government and private sector interests are doing a wonderful job o ...
Posted on 10/5/2015 8:00 AM By Keith Savino
October is National Cyber-Security Awareness Month. Not many people are knowledgeable of this fact, as October is filled with many causes and national observances. But the purpose of designated months is to break through the clutter and serve as a quick reminder.
Although we have made great strides in the last two years to make business owners aware of the issues, some are still at, what I refer to as, the “disregard” stage when the topic of “Cyber-Security” is raised. For many, Cyber-Security is simply a headline on the nightly news, a sound bite, a bit of conversation that passes through. It doesn’t seem real. They consider it something that happens to other companies, other businesses that are not vigilant. Ironically even businesses that are aware, take precautions, know the risks and attempt to secure their information, can often find themselves vulnerable.
I was curious to read stories of small business owners and their thoughts on Cyber-Security and I was n ...
Posted on 8/10/2015 8:01 AM By Keith Savino
Do you remember a time when you could simply tear up a piece of paper and toss it in the trash? You could carry your Social Security card in your wallet? It’s amazing how much the world has changed in the last 20 years, that a person can “Google” your name and zero in on the exact location of your home, complete with Street View images. Your identity is no longer safe. At this moment, there is at least one individual looking to steal your identification and use all of your personal information for their own private use. And almost always, by the time you realize that something is askew … the damage is done. It can take years and thousands of dollars to rectify.
Because it is vitally important to protect all aspects of your identity, below is a list of tips on how to keep it safe:
1. Use a paper shredder. Carefully watch what you throw out. Shred any papers or statements that contain personal facts about you, including your date of birth and any of the following numbe ...
Posted on 7/13/2015 8:00 AM By Keith Savino
The NYSE halted trading last week due to a “technical issue”. Almost every headline and ticker running on CNN, CNBC, or The New York Times immediately blasted the message: “Officials Deny Cyber-Attack.” The Wall Street Journal and United Airlines followed up that day with their own computer issues. It’s become the first “go to” thought in everyone’s mind every time a snafu, a glitch or a complication occurs, Data Breach, Cyber Attack, and Security Compromise. All data and computer infrastructure has become vulnerable.
Posted on 5/4/2015 8:00 AM By Keith Savino
Of the many questions I receive when I travel for business or meet with customers, the following is the topic most clients wish to discuss. … “Are data breaches and cyber-security really an issue?” I have heard people remark that cyber-liability is simply another overblown news story, such as Y2K. I have heard it referred to as a “Chicken Little,” where insurance agencies and carriers are simply running around screaming that the cyber world is falling down.
I sometimes wish this were the case. I would feel much more secure and rest easier knowing that most customers private data and personal information was under lock and key and can never been accessed by the outside world. But every single day, another retailer, healthcare provider, bank, corporation and company report a comprised customer data system. And many do not report breaches at all, nor do many, even know, that their data has been breached.
Target, Sony, Ebay, Adobe, Living Social, Ubisof ...