Cybersecurity risks are critically challenging for businesses, with the potential to cause severe business disruption and financial impact.
Understanding the threats and how cyberattacks work can help you keep hackers at bay and better prepare and protect your business.
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 several 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.
*Chubb Cyber Risk Survey 2019. Conducted between May 7, – May 17, 2019; results are based on 1,223 completed surveys.
This document is advisory in nature and is offered as a resource to be used together with your professional insurance advisors in maintaining a loss prevention program. It is an overview only, and is not intended as a substitute for consultation with your insurance broker, or for legal, engineering or other professional advice.
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