Category: Cyber Security

The vast majority of U.S. small businesses lack a formal Internet security policy for employees. Also, it is about a half have even rudimentary cyber security measures in place. Furthermore, only about a quarter of small business owners have had an outside party test their systems to ensure they are hacker-proof. Also, nearly 40 percent do not have their data backed up in more than one location. Despite significant cyber security exposures, 85 percent of small business owners believe their company is safe from cyber-attacks. This disconnect is largely due to the widespread, albeit mistaken, belief that small businesses are unlikely targets for cyber attacks.

When you think about what usually causes a business interruption, natural disasters such as fires, earthquakes, and floods probably come to mind first. These events can physically damage your property and equipment, making your workspace unusable for a time. The damages from Hurricane are great examples of how a natural disaster can put a halt to a business’s operations. Many of those affected businesses remain closed to this day.

cyber risk

Cyber Risks and Liabilities : Cyber Security

High-profile cyber risk on companies such as Target and Sears has raised awareness of the growing threat of cybercrime. Recent surveys conducted by the Small Business Authority, Symantec, Kaspersky Lab, and the National Cybersecurity Alliance suggest that many small business owners are still operating under a false sense of cybersecurity. The statistics of these studies are grim. The vast majority of U.S. small businesses lack a formal Internet security policy for employees. Also, it is about a half have even rudimentary cybersecurity measures in place. Furthermore, only about a quarter of small business owners have had an outside party test their systems to ensure they are hacker-proof. Also, nearly 40 percent do not have their data backed up in more than one location.

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