feature
You’ve Been Hacked! Are You Covered? by Rich Stazzone
Williams & Stazzone Insurance Agency
C
ybercriminals are everywhere stealing personal information about you, your business and your customers. It is not a matter of IF but WHEN you will be affected by a Cyber Attack. Since 2015, the number of businesses reporting a breach is on the rise, large business victims have increased 73%, medium business victims have increased 100% and small business victims have increased 200%. Is your organization next? Are you protected? How will you pay for this if you are hit? Our world today is data driven and sensitive information is stored and transferred electronically. Protecting that information is a priority for all organizations.
February 2021
T e x a s
D e a l e r
Cyber liability does not just come from a computer; there could be a theft of data from an external hard drive, smart phone or tablet.
The most common areas of concern are claims arising from unauthorized access to data containing both personal and business identity information and then determining and notifying those whose information was accessed. These concerns also include computer fraud for loss of money or securities due to fraudulent transfer instructions. Cyber liability does not just come from a computer; there could be a theft of data from an external hard drive, smart phone or tablet. The threats are not always from unknown persons — it could be from an unhappy vendor or employee. Emerging Cyber concerns are extortion/ransomware and social engineering scams. Ransomware is 33
