Industries we serve
Small to mid-sized companies
Small- and medium-sized companies are often saddled with regulatory requirements that are difficult to understand or too expensive to comply with. For too long, they have been forgotten or misunderstood by larger cybersecurity firms. Often, they find themselves holding one (or both!) of the following beliefs:
I don’t need to change anything because we’re not a target
OR
My cyber insurance policies will protect me financially if a security incident does happen.
Neither are true.
Cybercriminals don’t discriminate when it comes to finding new victims. The 2019 Ponemon Institute study on the Global State of Cybersecurity in Small and Medium-Sized Businesses reports that attacks on US-based SMBs are only increasing in number. Phishing, or the act of sending an email posing as a legitimate person or organization to lure the recipient into divulging sensitive information, continues to be a preferred vector of attack, which can ultimately lead to compromised email accounts, ransomware infections, and illegitimate wire transfers to criminals posing as your customers.
Transferring residual risk to a cyber insurance policy is becoming increasingly popular, but there are two primary barriers to receiving a payout should the unthinkable happen to your organization.
- You must prove your company has done its due diligence to examine the threats against it and taken sufficient steps to mitigate reasonable risk.
- Some insurance policies include exclusions for crimes committed by terrorist or state-sponsored organizations.
The list of organizations that fall into these two exclusionary categories is growing by the day, and if you have a policy with such an exclusion, you could find yourself left out to dry by your insurance company when you need them the most. Take a look at this article from Information Age; it will give you a clearer understanding of what is at risk.
Smaller companies don’t have the luxury of huge IT budgets to facilitate hiring, training, and retaining a department of specialists who focus on cybersecurity. Many don’t have a full-time person dedicated to IT support, relying instead on various staff to handle traditional IT duties in addition to performing their regular jobs. That’s where we come in.
Whether or not you have an IT department in place, Ihloom will set you up with the tools you need to secure your technology assets and free your in-house people from the responsibilities of identifying, reporting, and mitigating cyber threats.