Cybersecurity risks are critically challenging for businesses, with the potential to cause severe business disruption and financial impact. And they are on the rise — according to the Chubb Cyber IndexSM claims data, there’s been a 1,215% increase in the number of commercial cyber insurance claims over the past 10 years.
What is often not understood prior to a cyberattack is that the negative fallout of an incident can create a rapid downward spiral. As business becomes progressively impaired, reparation costs quickly escalate.
When these dominos start to fall, the increasing costs may bring a business to the point of bankruptcy.
There are a number of ways that cyber criminals can gain access to a company’s website or internal server to steal data or otherwise attack a business. These include:
Although stopping cyber criminals may seem like a formidable task, there are a handful of simple measures that companies can use to create their own cyber risk management program and limit their exposure.
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