KRS Newsletter - October 2023

KRS TECH CHRONICLE

Insider Tips To Make Your Business Run Faster, Easier And More Profitably

4 THINGS TO DO NOW TO PREVENT YOUR CYBER INSURANCE CLAIM FROM BEING DENIED

“Thankgoodness”isprobablywhat Illinois-basedmanufacturingcompany ICSthoughtabouthavingacyber insurancepolicywithTravelers Insuranceafteradatabreachin2022 Butafterclaimsinvestigatorspulledout theirmicroscopes,theyfoundthatICS failedtousemulti-factorauthentication (MFA)acrossalldigitalassets,which theyhadagreedtodointheirpolicy TravelerssuedICS and won Thepolicy wasrescinded,andsowereICS’sfeelings ofgratitude,whichlikelyevolvedinto worriedwhispersof“Oh,crap”

Smartbusinesseslikeyoursareadding cyberinsurancetotheirpoliciesbecause theyknowgoodsecurityhygieneisjust asmuchacompetitiveadvantageasa waytoreducebusinessriskButwith cyberinsurancepremiumssteadily increasing–theyrose62%lastyear alone–youwanttomakesureyour claimispaidwhenyouneeditmost

Why Claims Get Denied

“Mostclaimsthatgetdeniedareselfinflictedwounds,”saysRustyGoodwin,

theOrganizedEfficiencyConsultantat Mid-StateGroup,anindependent insuranceagencyinVirginia.

Thoughweliketopaintinsurance companiesasmaliciousmoney-grubbers hoveringoversize“DENIED”stamps overclaims,denialsareusuallytheresult ofanaccidentalbutfatal misrepresentationoromissionby businessesorsimplynotlettingan insurerknowaboutchangesintheir securitypractices.However,thereare simplestepsyoucantaketopreventa claim-denialdoomsday

4 Ways To Make Sure Your Claim Doesn’t Get Denied

1. Find a broker to help you understand your policy.

There’snodoubtthatinsurancepolicies aretedious,filledwithlegallingothat makeseventheAflacDucksweat. Nevertheless,thereareseveralpartstoan insurancecontractyoumustunderstand,

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WHAT’S NEW you ask?! ...

Well, it’s officially SPOOKY SEASON!! I must admit While I absolutely love the cool crisp fall air and a warm cup of pumpkin spice coffee, as I curl up with my favorite book, October is also known for something else in my industry.

October in the world of IT Technology is known as Cyber Security month I guess this makes sense because if there might be one thing even scarier than Freddy, Jason, and Michael Myers, it might just be some cyber criminal hacking into your network and bringing your business to a screeching halt!

HOW SCARY YOU ASK?! We’re seeing companies getting hacked by their very OWN IT TEAM LETTING HACKERS IN!! This occurred last week to Las Vegas’ 2 most well known hotels, costing them 80 million dollars after a 10-day nightmare! All preventable if you have the right Horror Movie Final Girl! Her name is KRS IT! Let's review how we can protect you!!

This monthly publication is provided courtesy of Josiv Krstinovski, President and CEO of IT Company.

WHAT'S NEW OUR MISSION:

“I don’t care if it costs me more money, I am going to make sure that every single client of ours has the absolute best security and solutions in place. If I am not doing my job. Plain and simple.”

includingthedeckpages(thefirstpagesthattalk aboutyourdeductible,totalcostsandthelimits ofliability),theinsuringagreements(alistofall thepromisestheinsurancecompanyismakingto you)andtheconditions(whatyouarepromising todo)

“Ifyourbrokercanhelpyouunderstandthem andyoucangovernyourselfaccordingtothe conditionsofthatcontract,youwillneverhavea problemhavingaclaimpaid,”saysGoodwin Somebrokersdon’tspecializeincyberinsurance butwilltakeyourmoneyanyway.Bewaryof those,Goodwinwarns“Ifanagentdoesn’twant totalkaboutcyberliability,thentheyeither don’tknowanythingaboutitortheydon’tcare becausetheywon’tmakealotofmoneyoffit.”If that’sthecase,hesays,“takeallyourbusiness elsewhere”

2.

Insurancecompaniesarehappytowriteacheck ifyou’rebreached if andonlyifyoumakecertain promisesThesepromisesarecalledthe conditionsofthecontract.Today,insurance companiesexpectyoutopromisethingslike usingMFAandpasswordmanagers,making regulardatabackups,andhostingphishing simulationandcybersecurityawarenesstraining withyouremployees.

Understandingtheconditionsiscritical,butthis iswheremostcompaniesgowrongandwindup withadeniedclaim

NFL IS BACK!!

Ifyou’veeverfilledoutahomeowners insuranceapplication,youknowyou’llgeta niftydiscountonyourpremiumifyouhavea securityalarm.Ifyoudon’thaveone,you mighttick“Yes,”withgoodintentionstocall ADTorTelustoscheduleaninstallationYou enjoyyourcheaperpremiumbutarebusyand forgettoinstallthealarm(nobodycomes aroundtocheckanyway).

Then,yourhomegetsbrokeninto“Guess whoseinsuranceclaimisnotgoingtobe paid?”Goodwinsays.“Thepowerisinour handstoensureourclaimgetspaid.There’s reallynothingtobeafraidofaslongasyou understandthepromisesthatyou’remaking”

Thishappensallthetimeincyberinsurance BusinessespromisetouseMFAorhost trainingbutdon’tenforceitAsinthecaseof ICS,thisishowclaimsgetdenied.

WANT A NEW 4K TV TO WATCH YOUR GAMES?!

NFL SEASON IS BACK AND IN FULL EFFECT!!

But you’re saying you don’t like football?? WHO CARES!! Would you still like a brand new 75" TV to watch your favorite apps or shows on?

Here’s how you can do it quite easily!

In the month of October, KRS IT has a referral program, where all you will have to do to win this TV is:

Refer us to a business that has at least 10 Full-Time employees, and is currently shopping for a new IT provider.

Just for sending a referral that we have a meeting with and pitch a plan, you will a receive $300 gift card!!

If your referral becomes a new KRS IT client, we will IMMEDIATELY ship out your brand new 75" Smart 4K TV or $1,000 to you. No questions asked!!

Goodwinseescompaniesmakeonebig mistakewiththeirinsurancepolicies:making assumptions.“IseeCFOs,CEOsorbusiness ownersassumetheirMSPiskeepingallthese promisesthey’vejustmade,eventhough theynevertoldtheirMSPaboutthepolicy,” hesays.MSPsaregoodatwhattheydo,“but theyaren’tmindreaders,”Goodwinpoints out

Regularlyreviewyourpolicyandhavean openandtransparentlineofcommunication withyourITdepartmentorMSPsothey canhelpyoukeepthosepromises

“We’rethearchitectofourownproblems,” GoodwinsaysAndtheagentsofourown salvationifwe’repreparedtoworkwitha qualitybrokerandmakegoodonour promises.

Send your referral to: www.krsit.com/referral-program/

Send your referral to: www.krsit.com/referral-program/

Send your referral to: www.krsit.com/referral-program/

Understand the conditions.

3. Make good on the promises.

4. Don’t assume the right hand knows what the left hand is doing.

Smart businesses like yours are adding cyber insurance to their policies because they know good security hygiene is just as much a competitive advantage as a way to reduce business risk.

LEAD WITH YOUR HEART

How Kindness Transforms Workplace Culture And Boosts Profits

Ifirmlybelievethekeytosustainedsuccess liesincultivatingkindnesswithin organizations.Whenleadersleadwith compassion,theycreateanenvironment whereemployeesthriveandoverallbusiness performanceimproves,elevatingyourbottom line.Inrecentyears,we’vebeenworkingon creatingamorepositiveandkindculturein myworkplace.Hereareafewareaswe’ve focusedonandhowit’spannedoutforus.

Positive Work Environment

Kindnesssetsthetoneforapositivework environment–somewhereyouremployees feelvalued,respectedandsupported–andthat helpsussupportyou!Leaderswholeadwith kindnesscreateasenseofpsychologicalsafety, encouragingemployeestovoicetheirideas, takerisksandcollaborateeffectively.Asa result,teammoraleimproves,andemployees becomemoreengaged,leadingtoincreased productivityandinnovation.

Well-Being

Kindnessinleadershipextendsbeyondyour day-to-daydelegationbecauseitalsobolsters thewell-beingofemployees.By demonstratingempathy,understandingand compassion,leaderscancreateaculturethat prioritizeswork-lifebalance,mentalhealth andpersonalgrowth.Whenemployeesfeel caredforandsupported,theirjobsatisfaction increases.Thinkaboutit:Whenyoufeel satisfiedandcaredfor,youhaveitinyouto gothatextramile.That’swhatyour employeeswilldoforyou,too,whichonly improvestheperformanceofyourbusiness.

Relationship-Building

Kindnessfostersstrongrelationships,both withinyourcompanyandwithcustomers. Whenleadersprioritizekindness,theybuild

trustandrapportwiththeiremployees, creatingasupportiveandcohesiveteam. Additionally,kindleadersunderstandthe valueofcustomerrelationshipsandprioritize exceptionalcustomerservice.Bytreating customerswithkindnessandempathy, businessescanestablishlong-lasting relationships,boostcustomerloyaltyand generatepositiveword-of-mouthreferrals. Bestofall,whenyouleadwithkindness,the restofyourteamfollowsyourexample.

Increased Innovation

Akindleaderpromotesaninclusiveculture thatvaluesdiverseperspectivesandencourages opencommunication.Whenemployeesfeel comfortablesharingtheirideas,they collaboratemoreeffectively,leadingto momentswheretheyfeelinnovativeand creativewhilealsosolvingproblems.Thatcan tapintothecollectivebraintrust,enabling themtodrivegrowth.

Afterdecadesofexperience,I’veseenfirsthand howleadingwithkindnessisapowerful differentiatorforsmallbusinesses.Small businessesthatprioritizekindnessandbeing humanarefinanciallysuccessfulandleavea lasting,positiveimpactontheiremployees, customersandcommunities.

“There are 3 ways to ultimate success: The 1st way, is to BE KIND. The 2nd way, is to BE KIND, The 3rd way,...is to BE KIND”

-Mr. Rogers

EXIT INTERVIEWS: A Goldmine Of Information For Your Company

Are you conducting exit interviews with your employees whenever they quit? An exit interview gives you a chance to hear an honest opinion from one of your employees about various aspects of your business.

Through an exit interview, you’ll learn if an employee enjoyed working for your company, what areas of your business could benefit from changes and more If you like the employee and don’t want to lose them, you can try to figure out how to make them stay based on what they’ve told you Failing to conduct exit interviews is only hurting yourself and your business.

CLIENT SPOTLIGHT: Step Up Family Services

As their team puts it, “Sometimes we need to just talk and sometimes we need a little more!” Isn’t that the truth

Giving a warm welcome to Step Up Family Services Step Up has a great support team specializing in children advocacy services, In-Home Therapy, Behavioral Assistance and so much more They work very closely with yourself and family, not only determining the best treatment plan, but also focusing on how to best “heal, energize and become aware of your inner strengths.”

Learn more on Step Up and their services via their site, stepupfamilyservices.com . You can also reach them at: (973) 298-0763

By Mark Leruste

When entrepreneurs and business leaders share their stories in books, marketing efforts and social media posts, they don’t always speak in their authentic voices. They want others to perceive them in a certain way, so they write or speak in a manner that strengthens that perception This could prove counterproductive to your marketing efforts, however.

Storytelling marketing is a great tactic to grow your business, but you have to do it properly to see results Glow in the Dark by Mark Leruste helps teach readers how to share personal stories using a genuine voice that will help them connect with clients and improve various aspects of their business.

WILL THE FCC’S NEW “CYBER TRUST MARK” IMPROVE HOME CYBER SECURITY? (UNLIKELY)

You’reatTheHomeDepotcomparing twomodelsofsmartfridges.Onehasan aqua-coloredlogothatsays,“CyberTrust Mark.”Theotherdoesnot.Wouldyou choosetheonewiththelogo?TheUS governmenthopesso.

InJuly,theFederalCommunications Commissionannouncedaplantorollout the“USCyberTrustMark”in2024to “provideAmericanswithgreater assurancesaboutthecybersecurityofthe productstheyuseandrelyonintheir everydaylives,”accordingtoaWhite Housepressrelease.

Themark(availableinfivedifferent colors,ifyou’reinterested)isintendedto appearonInternetofThings(IoT) devices–connecteddeviceslikeyour smartfridge,microwave,thermostatsand evenfitnesstrackers–thatmeetspecific cybersecuritystandards.Thelogo appearsnexttoaQRcodethat consumerscanscantoseealistof securitydetails,likewhatdatathedevice collectsandshares

It’savoluntaryprogramthatcompanies canoptintobutisn’trequiredIftheydo bearthemark,however,theirproducts mightgetpushedtothefrontofthe store.Mosthomeshaveanaverageof 20.2connecteddevices,sotheincentive tostandoutfromthecompetitionis valid.Severalcompanieshavealready pledgedtheirallegiancetothelogo, includingAmazon,BestBuy,Google, LGElectronicsUSA,Logitechand SamsungElectronics

WhentheEnergyStarprogramwas releasedin1992,itpromisedtosave consumersmoney.Companiesearnthe labelonlyiftheirproductleavesenergy

costsforconsumersEnergyStarsaysthe programsavesanaveragehousehold$450 ayear.Forexample,TVscanonlyuse threewattsorlessofpowerwhenturned off,whichisabout50%lowerthanthe averageTV.ButifyouleaveyourTVon 24/7,youwon’tseethosesavingsonyour energybill

Whenthecybersecuritytrustprogram rollsout,itwillprobablyimprovevery basicstandardsforsomeIoTdevices, particularlyconsumer-graderouters, whichhackersusetoeavesdropandsteal passwords.Butitwon’trevolutionize homesecurity,justlikeEnergyStaronly savestheaveragefamilyenoughtocover ourannualStarbucksexpensesButhey, it’snotnothing

However,astheconsumer,youstillhold abigchunkofresponsibilityforyour home’scybersecurity.

Theprogramdoesn’ttransfersecurity riskfromyoutoyourmicrowave manufacturer.Itallowsyoutoassessrisk. Themarkisintendedtohelpconsumers makeinformedchoicesaboutwhat devicestheybringintotheirhomesand businessesChoosetheWiFi-connected babymonitorwiththeCyberTrustMark (ordon’t);it’sstillonyoutouseastrong password(that’snot“iloveyou1234”)and updatethesoftwareregularly.Sadly,the logocan’tdothatforyou.

Safety Is Still Up To You (Sorry).