<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=905697862838810&amp;ev=PageView&amp;noscript=1">

BusinessHub

SWBC's BusinessHub blog is a one-stop resource for business owners and company decision makers.

 

What's Going on with Insurance Rates?

For several years now, the insurance industry has held the view that we were just one or two “super losses” away from seeing the long, soft market turn. Storm seasons have come and gone, large loss events have occurred, and yet insurance rates have remained relatively flat. That is, until 2017 when we experienced the most devastating storm season in our nation’s history. Harvey, Irma, and Maria continue to reverberate as insurance companies deal with the aftermath and consumers are now beginning to see the effects.

Read More

Clear or Partly Cloudy: What's your Cloud Security Strategy?

You have likely discovered the undeniable benefits of cloud services. Vendors offer scalable and highly available internet-accessible services to support almost all business needs. Most organizations have or will soon support business processes (workloads) from their own data center and through multiple third party cloud service providers (CSP). While the benefits may be appealing, leaders must make risk-informed decisions to maintain secure, business-ready services.

Read More

Data Security: Seven Questions Leaders Must Ask

Data is everywhere. We store it in our internal business systems and in the cloud. We collect it from our clients and share our data with business partners. Leaders need data, value it, and are able to amass it. We carry data with us and leave a digital footprint every day. Technology providers help us store it forever and share it globally. In the data breach era, leaders face greater risk if they fail to protect data throughout its lifecycle.

Read More

Ten Low Cost Ways to Reduce Your Security Risk

Protecting your organization is expensive. Leaders are encouraged and sometimes even compelled to provide additional resources to counter threats. As the cost of data breaches rise, regulators and your customers and business partners demand you to protect data you control. In turn, you require your vendors to protect your data. Is substantial investment sustainable and the only response to growing information security risk?

Read More

How a Cyber Hack is Affecting a Top-Rated Television Show and Millions of Viewers

If you were one of the estimated 16 million people that watched the anticipated Game of Thrones (GOT) episode on Sunday, July 31, or any of the other most recent episodes, you might have heard buzz about the HBO cyber attack. The Huffington Post reported that hackers obtained 1.5 terabytes of data from the HBO network and leaked the script to the August 5 GOT episode, plus files and proprietary information from other top-rated HBO shows. In laymen’s terms, 1.5 terabytes is equivalent to 32 months of continuous music play, downloading 225,000 full-length movies, or 768 years of photos. Now, that’s a lot of data!

Read More

Four Negative Effects Of A Cyber Breach

In today’s world, it's difficult to get through the day without interaction of a cell phone, computer, or other electronic devices connected to the internet. Technology, today, is simply all around us in everything we do, from work to our leisure time. We use technology to perform our jobs every day, leaving us vulnerable to cyber attacks whenever we get online. Cyber criminals have become the world’s most dangerous criminals simply because they can act covertly and from anywhere in the world. Regardless the size of your business you are not immune to cyber attacks. The potential impact to one’s business, for some, could make it nearly impossible to recover from a cyber attack. Having just one breach incident occur can mean the difference from running your business one day to closing shop the next.

Read More

Gone Phishing: The Dangers of Social Engineering

Social engineering is more popular than ever. Why? Simple—it works, and it works well. From Odysseus' Trojan Horse to the modern business attack, the art of manipulating human decision-making is a timeless threat. Easy access to the Internet empowers malicious actors with the intelligence, tools, and anonymity they need to develop effective campaigns. Whether you are a small business or a Fortune 500 company, you and your employees will likely face this threat and must remain on guard to defend against it.

Read More

5 Tips to Safeguard Your Company from Cyber Attacks

Everyone knows that fraud, in all its forms, is expensive. According to the Association of Certified Fraud Examiners, the typical organization loses 5% of its revenue any given year to fraud. Assuming you don't want to hand over 5% of your company's revenue to fraudsters each year, here are some tips to tighten your electronic controls and prevent cyber attacks, which affect the majority of companies on a daily or weekly basis.

Read More

4 Ways a Small Business Can Avoid Cyber Attacks

According to the Small Business Administration, there are almost 28 million small businesses in the United States. Small businesses are the backbone of our economy, and since the 1970s, they have provided 66% of all new net jobs. However, because small businesses don't typically have the technology and human capital resources of larger corporations, it makes them more vulnerable to fraud and cyber attacks. Hackers have gotten more and more sophisticated with their tactics, making it increasingly difficult for businesses to defend themselves, and each year there are nearly one million new computer threats released each day. Every October, we celebrate Cyber Security Awareness Month to shed light on this issue and offer tips and advice to prevent cyber breaches and malicious online attacks.

Read More

Cyber Insurance is Quickly Becoming a Must-Have—Are You on Board?

The term “cyber insurance” is quickly becoming a household phrase, plastered on more and more billboards, sprinkled throughout early morning radio commercials, and magically trolling you on your favorite websites. Early adopting businesses across the country are allotting more budgeted dollars to cyber liability insurance in hopes of assisting in a potential cyber incident. Overall, the cyber liability insurance market continues to develop and expand, but is your business on board?

Read More