Most businesses have abandoned the use of file cabinets and paper records. Today’s file cabinet is a hard drive and, in many cases, it lives in the cloud. As of mid-July 2021, there were at least three significant cyber-attacks just since March. These events have been highly publicized, raising awareness of cyber risks for all businesses. In fact, Federal Reserve Chairman Jeremy Powell stated that the next major threat to the economy is cyber and you can watch his 60 Minutes Interview.
Microsoft Exchange Hack (3/2/2021) – A vulnerability in the Microsoft Exchange email servers exposed over 30,000 business’ internal data to hackers.
Colonial Pipeline Attack (5/7/2021) – The Colonial Pipeline Attack impacted nearly half of the East Coast’s fuel supply and shut off their pipelines for 11 days. This event highlights how ransomware attacks are leading to greater cyber risks.
VMware Exploit (6/4/2021) – A VMware vulnerability with a severity rating of 9.8 out of 10 was exploited by cybercriminals to launch attacks on organizations using VMware.
Collectively, these events signify the growing risk of cyber threats. No business, big or small, is immune from cyber incidents which can be devastating. Businesses need robust and relevant cyber coverage, so they can return to normal operations quickly after an incident.
@UWIB_Risk and the team at UWIB.com offer standalone cyber insurance that can be customized to match the needs of any business and can include complimentary cyber awareness training and risk monitoring tools to help minimize cyber risk for your business.
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