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Home > Blog > The Importance of Information: Cyber Attacks & What They Mean for the Future of Your Small Business
THURSDAY, OCTOBER 1, 2020

The Importance of Information: Cyber Attacks & What They Mean for the Future of Your Small Business

If you take your business seriously, it is important to plan for the risks and rewards of the future. And that future includes technology-filled risks, whether we like it or not.

Our world is seeing major changes in the way we do business every day. We are constantly evolving how we structure, plan, and market our businesses. But for some reason we are becoming stagnant in the way that we protect our businesses. From adding tele-health visits to marketing our businesses through social media platforms, things could just never be the same as they were. This includes how effectively we could protect our businesses inside our old mindsets.

Small businesses often do not have the resources or expertise to protect themselves from cyber-attacks and are frequently targeted due to this vulnerability. Put yourself in the shoes of a hacker... Do you think that you would be more successful attacking a large, well-protected company with thousands of dollars in technology security? Or do you think that a few smaller companies, with less secure systems might be easier targets? With economies of scale, attacking many small businesses is becoming much more profitable for hackers.

Cyber-attacks are becoming a larger business risk each day. It is vital to review your exposures often with your insurance consultant, and evaluate the amount of risk that you and your business are willing and able to withstand.  With 87% of small businesses forgoing cyber insurance while 71% of ransomware attacks on small businesses in 2018, the future could seem dim for those who do not evaluate their risks thoroughly.

Don’t let a 15 year-old hacker take your hard-earned money. Invest in your company’s future and success. Protect your business from cyber-attacks before it is too late.

Contact Park & Associates today at (561) 994-0880 to ensure you are covered for cyber-attack exposures.

Posted 12:00 PM

Tags: cyber attacks small business insurance coverage cyber liability
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