By Keiter CPAs
On October 20, 2016, Chris Moschella, Keiter’s Risk Advisory Services Manager and Cyber Security Services Team Leader presented Cybersecurity: Demystifying the Essentials for SMBs for the VA Council of CEOs Knowledge Network series. Chris also shared his small to mid-size business cybersecurity insights in the Council’s Leader News article, “Making the claim for cybersecurity liability insurance.”
It’s no secret that cyber attacks are on the rise, and, like it or not, an attack could have devastating effects on your business. October is Cyber Security Awareness Month, so we wanted to ask: If all systems fail – if your security protocols don’t work and your worst day comes – do you have the right cybersecurity liability insurance in place to save your business?
Determining the Right Cybersecurity Coverage
Is your small business at risk?
We asked Chris Moschella, CPA, Risk Advisory Manager and leader of the Cyber Security team at Keiter. “Literally every company has Personally Identifiable Information (PII) – if not through their own clients, then through the employee information they have to gather each year for tax purposes,” he explained. “Does it mean everyone needs cybersecurity insurance? Maybe, maybe not. I would say that as the amount of data a company holds on behalf of its clients grows and the amount of sensitive information they house grows, then the need for cybersecurity insurance increases commensurately.”
Interested in learning more about safeguarding your small to mid-size business from cybersecurity threats? Contact us. We can help. 804.747.0000.
Additional Cybersecurity Resources:
- Data Breach – It can happen to you!
- SOC for Cybersecurity: An Answer to Leadership’s Cybersecurity Responsibilities
- What companies need to know about General Data Protection Regulation (GDPR)
- Five Reasons Why Your IT Outsourcer Isn’t Keeping You Cyber Secure (and neither is your internal IT team)
- Cybersecurity: So You Think You Have A Breach
- Cybersecurity: Educate and Motivate Staff to Be Careful
- Infosecstack: Your Collection of Free Cybersecurity Resources
- Access all of our Cybersecurity Resources
©2016 Virginia Council of CEOs. All Rights Reserved.
About the Author
The information contained within this article is provided for informational purposes only and is current as of the date published. Online readers are advised not to act upon this information without seeking the service of a professional accountant, as this article is not a substitute for obtaining accounting, tax, or financial advice from a professional accountant.