Insured Losses from SolarWinds Hack Mount, But Could Be Worse
… pay ransom and minimizes the disruption to business or operations.”
Organizations considering cyber insurance should look for these details:
- Is a discount available if specific data storage requirements are met? Modern data protection costs little, but can save big on insurance premiums.
- What are the coverage limitations? Specifically, will the policy cover ransom payments or other remediation costs even if the client is partially at fault? Hackers frequently trick victims into revealing information. Will this type of security lapse impact coverage?
- Check that you are covered for the costs of a data breach, particularly if you have sensitive information such as financial or health care records. This coverage is often separate from cyber insurance.
- What if a hacker attacks a key vendor or partner? Will that impact your business? If so, you may want to consider contingent business interruption coverage to cover such losses.
Insurance providers must fully inform organizations about their cyber insurance contract, Toor said.
“Organizations should also understand if/how reimbursement of ransomware payments and other associated costs are covered, as well as what defenses are required to get reimbursed,” he said.
Help with Recruiting Cybersecurity, IT Networking Pros
Cyber Institute for Battle Readiness (CIBR) Warriors has launched to help business find specialized cybersecurity and IT networking professionals.
The company works directly with businesses of all sizes and industries to assess their cybersecurity profile and services. It then recruits candidates for their security and connectivity needs.
An estimated 3.5 million cybersecurity jobs are expected to go unfilled this year, according to Cybersecurity Ventures. Therefore, CIBR Warriors is helping to fill this gap.
Scott Garfield is CIBR Warriors’ executive vice president.
“The shortage of talent is hindering a company’s ability to assess their security platforms for vulnerabilities and risks,” he said. “Many companies today lack the knowledge or infrastructure to conduct a thorough audit of the platforms and processes to make sure that they are cyber ready to safeguard their data and their clients data.”
CIBR Warriors has tens of thousands of candidates in its database and that number is growing daily, Garfield said.
“CIBR Warriors is in the recruiting business,” he said. “Every day our team of talent managers are connecting and building relationships with both active and passive candidates. In addition, our sister company, MyComputerCareer, has thousands of current and former students, many of who have experience as well as the certifications that are in high demand.”
Since the onset of COVID-19, the FBI announced a 300% increase in reported cybercrimes. That stressed the need for cybersecurity professionals in nearly every business and industry, Garfield said.
“To say that a lot of companies need help is an understatement,” he said. “With our vast network of highly skilled talent and our 100-plus years of combined experience, CIBR Warriors is uniquely positioned to assist companies with all of their cybersecurity initiatives. Whether it is training, conducting audits or assisting with staff augmentation, CIBR Warriors is here to help.”