Cloud security. It’s one of the most frequently cited concerns for businesses that are considering moving their applications and data to a cloud provider.
The common belief is the company’s data is more secure on company-owned servers at onsite data centres. But how true is this? Is data more secure because it’s on a server you can see? If you compare your onsite security with one or more cloud providers, how do they stack up? Read more →
Past events show how easily reputation can be lost. Ever since Volkswagen admitted in September 2015 to cheating on diesel emissions tests in the United States, its sales and grand plans for growth have taken a nosedive. This is further exacerbated by a later decision to increase the fine to $2.8 billion making it largest criminal fine ever negotiated by the U.S. government for a car maker. Clearly an example was being made of the company. Read more →
UK small businesses are underestimating the impact a cyber-attack could have on their reputation and must take steps to protect it according to the findings of the Small Business Reputation and the Cyber Risk report launched in February by the Government’s Cyber Streetwise campaign and KPMG.
UK SME’s are also unlikely to escape the grasp of the recently passed EU General Data Protection Regulation (GDPR), despite the recent Brexit vote.
The GDPR is due to come into force in early 2018. After that, firms which fail to comply with the new regulations will be subject to fines up to $20m (£15.4m) or 4% of turnover, whichever is greater.
This will put cyber insurance at the same level of importance as motor and employer’s liability insurance for many SME’s, especially those trading overseas. Read more →
There are a rising number of threats to the operation of our businesses in today’s modern and connected world, to the security and safety of assets, personal and corporate data and intellectual property rights. News of hacks and data breaches of major companies such as TalkTalk, the NHS, Debenhams, Wonga, Equifax and Uber make the main headlines. However, smaller companies are in reality, just as likely to be impacted by a cyber-attack, compromising confidential data or business models, stealing funds or mis-programming essential equipment.
There are many companies, particularly small and medium enterprises (SMEs) that believe they are immune yet the National Cyber Security Centre 2017 Cyber Security Breaches Survey reports 46% of small businesses and 66% of medium enterprises suffered at least one cyber-attack over the 12 month period reviewed.
The size and variety of businesses at the SME level make them a natural target for cybercrime and fraud, as companies often hold customer data with lower levels of protection than major corporations.
Focus on managing exposure to cyber risks for example; checking the suitability of firewalls, briefing staff on cyber security best practice, updating malware protection are all now key to business survival. The insurance industry is playing an important role in supporting prudent businesses of all sizes to both improve their resilience to cyber-attacks and to help them recover if the worst should occur.
Read on for our list of what to look for in a cyber insurance policy when considering protection for your business:
Encryption/ransom hacks – the second – largest cyber risk in the industry.
All businesses are vulnerable, but the entertainment industry reliance on secrecy renders it vulnerable to exposure. Films and television episodes lose much of their cash value after the first viewing. That makes early release by hackers a costly crime. As an example it is estimated that an illegal premature release of Expendables 4 cost the film company $100M. Read more →
Using an insurance broker should be an obvious choice when it comes to getting the best cover for your business.
However, not all SME businesses are aware that we, as brokers act as the independent voice of the customer, have access to a wide range of products that can be selected from to match a client’s needs and can provide comprehensive claims support. For all businesses, but particularly for an SME, who has so many other things to think about in their business, the added value of building a relationship with a broker can bring large benefits. Read more →
Food businesses need to ensure that the requirements of food hygiene law are achieved while maintaining a ‘reasonable temperature’ in the workroom.
There is not a conflict in law. Generally food hygiene law regulates the temperatures of food while health and safety law regulates the air temperature of the workroom. The few exceptions where hygiene law does specify a maximum air temperature can be accommodated by well-known techniques such as localised refrigerated enclosure. Read more →
Terrorism has come to dominate the news and political agenda ever since the fateful September 11th attacks, when images of hijacked planes flying into the World Trade Center were broadcast to horrified audiences across the globe.
The world has changed dramatically in the past 15 years, and with it, the nature of terror. As the tragedies in France and recent UK events have demonstrated, anyone anywhere can become a victim.
Commercial property owners need to be aware of the types of threats they now face and take adequate precautions to ensure their assets, tenants and the general public, are protected as far as possible and that site specific ‘stay safe’ emergency plans are developed and implemented to mitigate the risks and react as necessary should an incident occur. Read more →
As social media use becomes increasingly ingrained in our daily lives, the potential for something we post to be taken out of context or misconstrued is only going to increase.
When adults are being sued for negative yelp reviews and parents are being held liable for their child’s Facebook use, it seems the more active your family is on the Internet—and particularly social media—the greater the potential you could have to defend yourself from a lawsuit.
Anybody running a business, irrespective of size, needs to consider business insurance.
Whether you are self-employed or run a small or medium sized business you need a good insurance policy that protects you, your business and your sources of income. Read more →
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