Cyber Security Guide
Learn the basics of cyber security and how to protect against rising threats with this Free Guide to Cyber Security and FAQs about Cyber insurance.
Protecting Your Business in a Digital World
In this Free Cyber Security guide, you’ll learn:
- What are the critical elements of a basic cybersecurity plan?
- How can small and medium sized businesses prevent cyber attacks?
- Why you must rethink your cloud conscious strategy
- Answers to the top 4 questions about cyber insurance
- A case study on Zero Day Exploits
This guide explains why cyber security is essential for businesses, the importance of cyber insurance, covering the evolving threat landscape, cloud data risks, and key cyber strategies. It also informs you about the 7 purposes of cyber insurance, tips for coverage, and potential discounts. Download the cyber security guide to access a free technology assessment and practical advice for protecting your business.
Why is Cyber Security So Important?
In the fast-evolving landscape of technology, businesses and enterprises face an increasing array of cyber threats that can compromise sensitive data, disrupt operations, and damage the business’ reputation. It’s crucial to comprehend the evolving nature of cyber threats. Cybercriminals employ
sophisticated techniques such as ransomware, social engineering, phishing, and zero-day exploits to exploit vulnerabilities in business networks and on employee devices. As technology advances, so do the strategies of malicious actors. This necessitates a proactive and dynamic approach to cybersecurity.
The guide also discusses why Cyber insurance can provide critical financial protection, ensuring businesses are better equipped to manage the fallout from such incidents.
Below are five cyberattacks on major companies, along with the financial damages incurred:
- MGM Resorts International (September 2023): A ransomware attack by the ALPHV group, also known as BlackCat, disrupted MGM’s operations. MGM reported a financial impact of $100 million for the third quarter of 2023 due to the attack.
- Caesars Entertainment (September 2023): The same group behind the MGM attack targeted Caesars, leading to a data breach. Caesars paid a ransom of $15 million to the attackers.
- Krispy Kreme (November 2024): A cyberattack disrupted online operations, particularly affecting online ordering systems in the U.S. The company anticipates that the incident will materially impact business operations and financial results, though exact figures are not yet disclosed.
- CrowdStrike (July 2024): A flawed software update caused widespread IT outages, affecting millions of Windows computers globally. The incident resulted in an estimated $5.4 billion in costs for Fortune 500 companies.
- LoanDepot (January 2024): A ransomware attack exposed sensitive data of approximately 16.9 million customers. The company incurred $27 million in response and recovery costs.
Why Employees Are The Greatest Risk
Employees are the greatest risk to any business’ technology infrasture, and consequently the overall business’ cyber strategy. Human error accounts for 95% of all data breaches. This is why employee training is key to preventing an attack. The guide profiles the MGM Cyber Attack and demonstrates how creative hackers can be, but more importantly, why employees need to be informed since they are the front line of every cyber defense strategy. The guide describes the business culture that must support the cyber strategy too including, backup and recovery strategies, phishing tests and training, and communication with your entire business organization about ongoing threats and behaviors that may put the company at risk of a cyber attack.
What is Cyber Insurance?
Many business owners ask about cyber insurance, so the free guide provides an overview of the benefits, along with the risk assessments you’ll need to conduct before you get a Cyber insurance policy. Get started with a cyber security risk assessment now.
Cyber insurance has become an indispensable safeguard for businesses in today’s digital landscape, offering vital protection against the growing threat of cybercrime. In recent years, cyberattacks have evolved into a highly lucrative industry for hackers. According to the Identity Theft Resource Center, there were 2,116 reported data breaches as of September 2023—a 17% increase compared to the 1,802 breaches recorded in 2022.
By covering financial losses stemming from incidents like data breaches, ransomware attacks, and network disruptions, cyber insurance helps organizations minimize the impact of these increasingly frequent and damaging threats. As cyber risks continue to escalate, investing in cyber insurance is a wise and proactive step every business should take to safeguard its operations and reputation.
Note: Conscious Networks does not sell cyber insurance but we can refer you to trusted providers.
Assess Your Cyber Security With Conscious Networks
With a holistic approach to cyber security, the team at Conscious Networks is among the best cyber security providers for business. We are a holistic technology partner that can help you evaluate the risks, investments, and options. By leveraging our business expertise and comprehensive technology, you can enhance your security posture and protect your organization against cyber threats. Contact Conscious Networks today to schedule a free consultation.
