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Prime Educates Customers on the Importance of Cybersecurity Insurance
Leading MTSP Shares How to Protect Businesses from Cybercrime
Vic Levinson, President of Prime (https://www.primemtsp.com) summarized, "If your business collects sensitive data - like credit card numbers, account numbers, Social Security numbers or medical records, you're likely a target for cyber criminals." He continued, "Many small businesses assume that cybercriminals are only interested in targeting large organizations, from whom they can extort very large ransom payments, however, in recent years, those larger organizations have responded to this focus by investing heavily into their IT and cybersecurity. This is dissuading many hackers from targeting larger organizations with robust defense systems and has effectively redirected many cybercriminals' efforts towards small businesses who possess weak IT infrastructure, yet valuable data. Essentially, small businesses are now the 'low-hanging fruit' for hackers."
Cybersecurity insurance policies are an effective solution for SMBs to mitigate their risk in the short-term, while they build stronger IT infrastructure and bolster their cybersecurity in the long-term. However, one critical stipulation of cybersecurity insurance policies is that they do not cover prior acts of which you had knowledge before you started your policy.
Technology Assurance Group