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Cyber Concerns and Risks Surrounding Stolen Data

Today’s businesses, despite what industry you may operate in, and no matter the size of your operations, are all exposed in some way to cyber threats and crimes every day. Whether you partake in online transactions or store private information on your clients and employees, because we are all connected to the Internet we are all at risk. You’re the best solution to this problem is a cyber policy from an Albuquerque insurance agency.

Top data targets include intellectual property and databases of personal information, which are often used for identity theft and other types of fraud. Losses can be both direct and indirect, with many businesses experiencing downtime or lost productivity due to breaches and cybercriminal activities. Sadly, many executives still think their organization’s data has no value and therefore believe that they will not be targeted. They take this stance despite increased media coverage of high-profile breaches occurring regularly.

We live in a world connected by software

Cars, planes, homes, cities, and even animals are all being connected. We’re putting software everywhere, and commercials for software to turn on burglar alarms, and lock doors from your smartphone, while you are miles from home illustrate this fact. This is certainly changing the way we live. As technology becomes more and more deeply integrated into our lives, we become more and more reliant upon it. But this sort of dependence makes us vulnerable anytime that technology fails or becomes compromised.

Hackers are the well-known term for people that have made it their job to prove that they can easily gain access to anything and everything that is controlled or accessible via a computer. It’s their way of showing the world that no one is safe. This fact also helps those that make it their job to halt cyber crimes to better understand the many security risks associated with smart devices connected to the web.

This raises the question of what other security risks might exist if an attacker could easily access items on home, business, and government computers. The point here is that cyber threats are a real concern, both as a privacy issue and also due to the threat of any financial losses. Contact an Albuquerque insurance agency for coverage of cyber issues.

 

Insurance Risk Advisors