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Cyber security attacks continue to occur at an alarming rate. Do you have defensive steps in place to protect you and your business?

Recently, the White House warned American businesses to take urgent security measures to protect against ransomware attacks, as hackers shift their tactics from stealing data to disrupting critical infrastructure https://nyti.ms/3cGS2YE

This heightened warning follows a string of escalating ransomware attacks – from stealing data to disrupting operations. For example, we all witnessed the Colonial Pipeline event last month when they were hit with a ransomware attack. Their business records were frozen by a criminal group, forcing the company to suspend operations.

Without securing a dedicated cyber policy, most businesses likely do not have adequate insurance coverage following a data breach. Cyber insurance helps your company recover after a data breach, with costs that can include business disruption, revenue loss, equipment damages, legal fees, public relations expenses, forensic analysis, and costs associated with legally mandated notifications.

Our team of risk management specialists are in place to advise you on a cyber risk assessment. Please email Jack Prewitt, a risk management advisor specializing in cyber coverage, at jackprewitt@prewitt.group to discuss how we can put our power to mitigate risk to work for you.

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In case you haven’t heard, Alabama’s new data breach notification law went into effect on June 1st. In short, the law requires a business entity that “acquires or uses sensitive personally identifiable information (Sensitive PII)” to have certain security measures in place and predetermined notification measures to alert impacted individuals of the breach within a reasonable amount of time.

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cyberattacks

Recently, the City of Atlanta was crippled by a ransomware attack that The New York Times called “one of the most sustained and consequential cyberattacks ever mounted against a major American city.” The city’s computer systems were held hostage after being hacked by a third party who locked them out and demanded money in exchange for re-access to the systems.

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