How Well Do You Really Understand Cyber Risk?

We’ve all heard the many high profile stories about well-known brands – and their customers – falling victim to cyber security breaches. It’s all too easy to tell ourselves that such threats are only the concern of large, national or multi-national firms.

The Hiscox Cyber Readiness Report 2018, which carried out detailed research on over 4,000 organisations of all sizes, found that 45 per cent of organisations had suffered a cyber attack in the last year. Two-thirds of those targeted had experienced two or more attacks.

The British Insurance Brokers’ Association describes an “alarming degree of under insurance”. So why are so many businesses) inadequately protected?

From customer and supplier email addresses and financial records, to intellectual property, data has a value and therefore makes you a potential target. New General Data Protection Regulations (GDPR) will also represent an increase in maximum fines for breaching data protection requirements.

The problem with cyber risk is that, by its very nature, it is constantly evolving. The ways in which businesses manage data and utilise technology in their day-to-day operations are becoming ever more diverse and enterprising – creating new risks to manage.

Improving the effectiveness of your cyber risk management needn’t be incredibly difficult, or expensive, and will pay dividends. Independent, objective advice can be invaluable.

We Have Produced A New Guide To Understanding And Managing Cyber Risk – Download Your Copy Here.  

 

Talk To Us

For more information about how we can help you assess and manage the cyber risks your business is exposed to, please get in touch. Speak to your usual Stackhouse Poland contact, call us on 01483 407 440 or email us at enquiry@stackhouse.co.uk.