Strengthen Your Defenses During National Cybersecurity Awareness Month Is your organization doing everything possible to prevent cyberattacks? The FBI’s Internet Crime Complaint Center (IC3) received 467,361 complaints in 2019 and recorded more than $3.5 billion in losses.Business email compromises schemes alone accounted for more than $1.7 billion in losses.Ransomware has been another growing threat – the IC3 received 2,047 ransomware complaints with adjusted losses of $8.9 million in 2019, and attacks have been becoming even more costly and sophisticated in 2020.

If you’re not doing everything possible to protect your company, it’s only a matter of time before a cyberattack targets your company.October is National Cybersecurity Awareness Month, and this year’s theme is “Do Your Part.#BeCyberSmart.” Are Your Systems Secure? Your organization likely uses many computers and smart devices connected via a network.

This system is only as strong as the weakest link.Are Your Processes Secure? A secure computer system is a strong defense against cyberattacks, but it’s not all about technology.You also have to consider the human element.

Some cyberattacks, including business email compromise and phishing schemes, work by tricking individuals into revealing sensitive information, making fraudulent wire transfers or diverting payroll.Is Your Company Adequately Insured? This year’s shift to remote work arrangements has increased cyber exposures for most companies.Do you know what you would do if everyone in your company was locked out of your systems until you paid a ransom? Do you know if you have coverage for a data breach event? These are important questions to contemplate now.

Contact your BNC Insurance advisor for a cyber liability coverage review.