Debunking Cyber Insurance Myths

/in

Cyber Insurance Risk Assessment

Your business faces an ever-increasing array of cyber threats. Beyond protections, cyber insurance is an essential component of a robust risk management strategy. Therefore, understanding cyber insurance realities is necessary for you to make sound security and business decisions. In this post, we focus on debunking common cyber insurance myths.

1MYTH: Cyber Insurance Policies Offer the Same Level of Protection

In reality, policies vary significantly with respect to coverages and services. Opting for bundled policies generally results in coverage gaps, as most general liability policies treat cyber coverage as an add-on.These gaps leave your businesses vulnerable to liabilities and losses.

Standalone cyber insurance policies, provided by financially strong carriers, offer comprehensive protection tailored to the specific needs of your business. They address unique risks associated with cyber threats given your industry, business size, and other risk factors. Standalone policies also often include coverage of forensics, temporary resources, and other recovery needs. Dedicated coverage helps you respond more effectively to a cyber incident.

2MYTH: Your IT Security Measures Dictate Your Premiums.

While robust security practices can positively impact premiums, broader industry trends and company-specific factors play a more significant role in determining pricing.

Industry-wide loss ratios have a substantial impact on insurance costs. Peer group averages impact premiums as well. Insurers assess the risk profile of businesses within sectors. As insurers issue more policies and analyze claims, insurers refine actuarial, incorporating additional factors and risks.

3MYTH: Cyber Insurance Policies do Not Pay Out

Many businesses hesitate to buy standalone cyber insurance policies out of fear that their policy will not pay out in the event of a claim. Reputable cyber insurers with strong financials rarely deny claims with a valid cause..

Inaccurate, or fraudulent, applications are the most frequent reasons for claim denials or reductions. 

Your application must accurately reflect your cyber insurance risk profile. The information you provide on your cyber insurance application should reflect a thorough review process. Cybersecurity tools offer verification of your security profile.

4MYTH: Cyber Insurance is All You Need

Many businesses, including yours, may need additional layers of protection for specific cyber risks. These additional coverages may not be available within a traditional cyberinsurance policy.

Cyber warranties offer additional layers of protection by covering these specific elements of cyber risk. Combining cyber warranties with cyber insurance creates a more comprehensive safety net. This approach bolsters your overall security strategy and ensures appropriate coverage.

5MYTH: Robust Cybersecurity Measures Eliminate the Need for Cyber Insurance

Investing in strong cybersecurity defenses provides crucial protection for your business. No security profile or system, however, will stop every cyber attack, data breach, or data loss incident. Cyber threats continually evolve. Even the most secure systems fall victim to sophisticated attacks.

Cyber insurance serves as your financial safety net. Beyond covering direct financial losses, better policies help you recover from incidents that slip through the cracks of your security measures. These resources include forensics, data recovery, customer relations, legal expenses, and more. Cyber insurance protects you financially if and when a cyber attack gets past your defenses.

6MYTH: Obtaining Cyber Insurance is Complicated and Time-Consuming

The thought of obtaining cyber insurance deters many businesses from seeking the coverage they need. Horror stories of complex applications, surveys, and audits create anxiety and fear of the process. 

Unfortunately, this myth can come true. Businesses that apply through general insurance agents and fail to leverage knowledgeable IT resources often run into issues during the underwriting process.

Cumulus Global partners with cyber insurance specialists that offer streamlined application processes and non-committal quotes. Our partners work with more than two dozen carriers, ensuring you have options to choose the policies that meet your business needs and budget. Non-biased policy reviews help you understand your coverages and make informed decisions.

Related Information

Cyber Security Requirements for Cyber Insurance (eBook)

5 Questions for Lower SMB Cyber Insurance Premiums (Coffee & Clouds)

Security CPR (Cloud Burst)

Security CPR Managed Security Services (Service Overview)

Your Next Step 

Avoid falling prey to cyber insurance myths. Contact us and let us introduce you to our cyber insurance partners.

We can provide you with a Cyber Insurance Risk Assessment and help you assess your cybersecurity profile.

About the Author

Bill Seybolt bio pictureBill is a Senior Cloud Advisor responsible for helping small and midsize organizations with cloud forward solutions that meet their business needs, priorities, and budgets. Bill works with executives, leaders, and team members to understand workflows, identify strategic goals and tactical requirements, and design solutions and implementation phases. Having helped over 200 organizations successfully adopt cloud solutions, his expertise and working style ensure a comfortable experience effective change management.

Email Cybersecurity Risks: 3 Things to Know

/in

Email Cybersecurity Risks

As we have shared in the past, cyber attacks constantly change and evolve. We face new attack vectors, or methods, and old methods reappear. Email remains the most common starting place for cyber attacks. These attacks may be direct, or they may be the first step of a larger attack.

Over the last few months, we have seen an increase in new and reappearing email-based cyber attacks. Here are three types of attacks that you may be unaware of, but should protect against.

1 Email Burst Attack.

As the name implies, an Email Burst Attack begins when the attackers send a burst of legitimate-looking, identical emails. To the victim, the attack appears to be a technical issue, as they may receive anywhere from 10 to more than 100 emails within 20 to 90 seconds. The attack continues with a phone call or email impersonating an IT employee or a vendor. The victim is asked to “reset” a password or download software to “fix the problem,” giving the attackers access to credentials and/or the computer.

Email Burst Attacks are difficult to detect and can result in significant breaches and loss.

2 An Old-School Cyber Attack Returns

An email-based cyber attack that uses Google Groups is back after several years in the shadows.  In this attack, the cyber attacker creates a Google Group, directly adds members, and sends emails to the group members. These emails range from basic spam to sophisticated phishing attacks.

The emails look legitimate because the email is from the Google Groups service, a trusted sender. As such, a Google Group attack is difficult to identify and defend against.

3 Visual Risks On The Rise 

Email-based cyber attacks often use images and “calls to actions” that appear to be from a trusted source or brand. 

Attackers will use images of, or from, legitimate websites to mimic the look and feel of stores, banks, and other trusted businesses. To detect these attacks, you need to compare the image and branding with the email header and meta data. This type of scanning is beyond the ability of most email threat protection services.

QR Codes pose a similar risk. In order to validate that a QR Code is safe, you need to scan the image and test the underlying URL. Because QR Codes are not a “link click”, most email scanners cannot validate they are safe.

Protecting Yourself

The newest generation of email threat protection services include the abilities to detect and mitigate these attacks. These services include:

  • Detecting and blocking email burst attacks
  • Letting administrators and users manage graymail, so that Google Group and similar attacks can be identified and blocked
  • Scanning emails using AI-empowered computer vision to verify branding and safely test QR codes.

Cumulus Global offers email threat protection services with these capabilities within our Managed Cloud Services and as a stand-alone service offering.  

Your Next Step

Get more information and assess your email threat protection services, or schedule a no-obligation meeting with one of our Cloud Advisors.

About the Author

Chris CaldwellChristopher Caldwell is the COO and a co-founder of Cumulus Global.  Chris is a successful Information Services executive with 40 years experience in information services operations, application development, management, and leadership. As COO, Chris overseas our Service Team, providing expert consulting, cloud migration, education, and support services.

Your 2025 IT Checklist – The Next 3 Items

/in

IT Checklist

The Next 3 Items on Your 2025 IT Checklist

As we move into 2025, our businesses face a new set of challenges. Political and economic changes, rapidly emerging technologies, and increasing security threats will all demand our attention.  Where we focus, and the decisions we make, will impact our businesses, customers, and employees. Is your 2025 IT Checklist ready to help?

Your information technology services remain critical to your business operations. Pragmatic, thoughtful planning and decisions now, will empower your team and enable your business to address the coming challenges – and opportunities.  Here are the next three of six key areas to explore as you build your IT goals and objectives, and your 2025 IT checklist.

4 Enhance Security Measures and Compliance

Evolving threats and regulatory requirements keep cybersecurity a top priority for businesses. Beyond protection and prevention, focus on resilience. Ensure your business can maintain operations during and after a crisis.

  • Benchmark your security profile against recognized frameworks, like CIS or NIST, as well as industry standards and regulatory requirements. 
  • Conduct regular security assessments and penetration tests to identify vulnerabilities, scope risks, and prioritize solutions 
  • Implement a phased approach to security improvements; start with high-impact, low-cost changes. 
  • Educate employees on security protocols. Emphasize their role in maintaining a secure environment. 
  • Update your security profile, risks, and priorities over time with periodic assessments and penetration testing.

5 Streamlining IT Infrastructure for Efficiency 

As your IT environment becomes more complex, inefficiencies and costs will escalate. Simplify your IT systems and services to reduce redundancies and enhance productivity.

  • Identify and eliminate duplicate services to reduce license, admin, and support costs.
  • Focus on removing apps and tools that duplicate capabilities in your Google Workspace or Microsoft 365 services.
  • Identify and eliminate shadow IT services to lower costs and prevent data loss.
  • Address mismatched systems that may hinder productivity. Lack of integration between cloud and local applications, for example, requires extra time and effort to store, share, and secure files and information.

6 Prepare for the Future: Trends and Innovations

Stay ahead of technology trends to ensure your business remains competitive. 

  • Keep an eye on innovations in areas like cloud computing, artificial intelligence (AI), communications, and cybersecurity.
  • Invest some time to regularly assess how these trends might benefit your business – strategically or tactically.  
  • Invest in employee education and training so they can adapt quickly to technology and business changes. 
  • Prioritize building a flexible IT infrastructure and services that will adapt and incorporate future innovations. Ensure your business remains resilient and agile in an ever-evolving digital landscape.
  • Foster a forward-thinking culture. Anticipate challenges and capitalize on new or different opportunities.

Next Steps

For help with any part of your 2025 IT checklist, or to tap into our expert guidance, book a complementary  intro  call with our Cloud Advisors.  Ask for an IT Assessment Referral Code and request your IT assessment. 

About the Author

Allen Falcon is the co-founder and CEO of Cumulus Global.  Allen co-founded Cumulus Global in 2006 to offer small businesses enterprise-grade email security and compliance using emerging cloud solutions. He has led the company’s growth into a managed cloud service provider with over 1,000 customers throughout North America. Starting his first business at age 12, Allen is a serial entrepreneur. He has launched strategic IT consulting, software, and service companies. An advocate for small and midsize businesses, Allen served on the board of the former Smaller Business Association of New England, local economic development committees, and industry advisory boards.

The First 3 Items on Your 2025 IT Checklist

/in

IT ChecklistAs we move into 2025, our businesses face a new set of challenges. Political and economic changes, rapidly emerging technologies, and increasing security threats will all demand our attention.  Where we focus, and the decisions we make, will impact our businesses, customers, and employees. Is your 2025 IT Checklist ready to help?

Your information technology services remain critical to your business operations. Pragmatic, thoughtful planning and decisions now, will empower your team and enable your business to address the coming challenges – and opportunities.  Here are the first three of six key areas to explore as you build your IT goals and objectives, and your 2025 IT checklist.

1 Navigate the Windows 10 End of Life Transition

As we approach 2025, one of the most pressing IT challenges for businesses is the transition away from 

Windows 10 reaches end of life on October 14, 2025. Microsoft will no longer provide updates, support, or free security patches. Now is the time to prepare. The move to Windows 11 will impact your IT planning, budget, and operations.

  • Inventory all devices running Windows 10, including laptops, desktops, and any embedded systems in manufacturing or distribution equipment.
  • Evaluate each device for Windows 11 compatibility and identify machines that require replacement.
  • Determine if compatible machines can/should be upgraded or replaced to ensure performance.
  • Subscribe to the Extended Security Update program for systems that cannot or will not be replaced in time.

As you assess your needs and plan replacements and upgrades, be mindful of potential supply chain issues. Expect the current political and economic climate, and increased demand for new devices, to impact pricing and availability.

2 Maximize Your Productivity Suite Utilization

Your productivity suite – Microsoft 365 or Google Workspace – is the backbone of your business operation. And yet, studies show that over 65% of small businesses leverage less than 40% of their productivity suite’s features. 

Unlocking the full potential of these tools can drive efficiency and collaboration.

  • Encourage a culture of continuous learning and sharing within your organization. Share shortcuts, tips, and best-practices.
  • Help your team explore, utilize, and gain comfort with new features.
  • Identify and share ways new features can streamline existing workflows and tasks.
  • Set expectations for team members to learn and use their systems more efficiently and effectively, and to adapt to updated workflows.

3 Integrate AI Effectively into Your Business Operations

Artificial Intelligence (AI) is becoming a cornerstone of modern business operations. Beyond the hype and hyperbole, AI can benefit your business when part of realistic, practical use cases.

In 2025, prioritize practical AI applications while safeguarding data security and managing costs.

  • Refine your data governance policies to protect sensitive information. 
  • Identify and prioritize use cases for AI, such as automating repetitive tasks or enhancing customer service. 
  • Explore AI capabilities in your existing systems before investing in new solutions. 
  • Provide thorough training to ensure employees understand AI tools and their role in streamlining workflows.

Next Steps

For help with any part of your 2025 IT checklist, or to tap into our expert guidance, book a complementary  intro  call with our Cloud Advisors.  Ask for an IT Assessment Referral Code and request your IT assessment. 

About the Author

Allen Falcon is the co-founder and CEO of Cumulus Global.  Allen co-founded Cumulus Global in 2006 to offer small businesses enterprise-grade email security and compliance using emerging cloud solutions. He has led the company’s growth into a managed cloud service provider with over 1,000 customers throughout North America. Starting his first business at age 12, Allen is a serial entrepreneur. He has launched strategic IT consulting, software, and service companies. An advocate for small and midsize businesses, Allen served on the board of the former Smaller Business Association of New England, local economic development committees, and industry advisory boards.