Cyber Insurance: Why You Need It and How Beacon Helps You Save

person at computer

Bear with us here, because we’re going to take a moment to talk about a subject that isn’t particularly fun.

Insurance.

Ugggghhhh, right? Unless you are in the insurance business (in which case, sorry), there is nothing particularly enjoyable about insurance. It costs money, and if you ever use it, it means something bad has happened. Nope, no fun at all.

Insurance IS important though, and it can provide some peace of mind that if the worst does occur, you won’t be financially ruined. Chances are you already have a lot of insurance in your personal and professional life: auto, health, life, liability, the list goes on. But now it’s getting increasingly important to add cyber insurance to that list.

Here’s what you need to know about this new and evolving area of the insurance industry.

What is cyber insurance?

Sometimes also called cyber liability insurance, this type of insurance covers or mitigates the costs for a business that has been the victim of a cyber attack, whether it’s ransomware, a phishing scam, a virus, or some other form of hack.

Man with computer and phoneDo I need cyber insurance?

If you store important or sensitive data on your network, a hard drive, or in the cloud, then the short answer is, yes, you probably do. Or if a cyber attack on your business could lead to a significant loss in productivity and income, then the answer, again, is yes.

Though there might be some basic cyber coverage in your liability insurance, cyber insurance will offer you much more protection. It’s especially important if you store any personally identifiable information about your employees or customers, such as names, social security numbers, credit card or bank data, email addresses, or birthdays. Any of that data could be used by a hacker to target an individual, who could in turn sue you for the security breach. Many cyber insurance policies can help cover the costs of settling that litigation.

What does cyber insurance cover?

Even if you aren’t targeted by a lawsuit, you’ll still have extensive costs in the wake of a hack. Cyber insurance covers a variety of these, including:

  • The recovery of your system or data;
  • Notification of customers or clients of the security breach that may affect them;
  • The costs of business loss due to downtime or suspended operations;
  • A forensic investigation into your hack to prevent future attacks.

All of these costs, and others, are typically covered by a cyber insurance policy.

tiny cart of cash next to computerOkay, sounds like I need cyber insurance. What’s it gonna cost me?

Costs vary depending on the size of your business—and the size of your policy. Some policies may cost as little as a few hundred dollars a year, while others are in the tens of thousands.

Aside from your business’s size and coverage needs, your costs can be affected by some other factors. One is location. If, for example, you store your data on a European server, it may be subject to foreign laws regarding data security and insurance, such as the recently passed EU Cybersecurity Act. So, it’s important that you have a full understanding of your network and data storage setup before you begin exploring your cyber insurance options.

Another key factor in your insurance costs is your cyber security. Just as many health insurance policies go up in cost if you have too many risk factors, your cyber insurance costs will increase astronomically if you don’t have proper security measures in place. If, on the other hand, you have robust security—including precautions like multi-factor login credentials, antivirus software, firewalls, and VPN usage for remote access—your premiums will likely be much lower.

Furthermore, if you fail to take preventative measures to protect your network and data, your cyber insurance claim—no matter how much you pay for it—may well be denied. Some cyber insurance providers won’t even offer you a policy if you don’t have proper security in place.

Yikes! I guess I need to beef up my cyber security, too.

You sure do. Fortunately, that’s where Beacon IT Services (BITS) comes in.

We offer extensive cyber security and threat protection services to our clients in addition to cloud integrations, data backup, and other key managed services.

Contact us today to begin exploring how we can make your business more secure. Because after all, an insurance policy is the last line of defense for protecting your business, and with BITS providing security, you reduce the potential of having to put it to use.

By | 2021-07-23T07:31:05+00:00 July 23rd, 2021|Computer Related, Cyber Security, IT Services|

Is Your Head In the Cloud? Here’s Why That’s Good For Your Business

clouds in a blue sky

How’s that saying go? “Head in the clouds?” It’s a term that usually has negative connotations, but maybe not for much longer.

That’s because nowadays, the term “cloud” has become synonymous with technology and cloud computing, a service that lets users store data and programs on a remote server—the cloud—and access it from anywhere they have an internet connection.

It’s quickly becoming apparent that migrating their network to the cloud is an absolute must for businesses that aim to stay on the cutting edge: in fact, a Verizon study in 2017 found that 77% of businesses felt that the cloud gave them a competitive advantage (and that number has surely only gone up since then).

Cloud servers offer far more data storage than you’d get from a typical server (and certainly more than saving directly to your hard drive). The cloud offers more than just storage solutions, though. Here’s a look at some of the key benefits of cloud computing, and why you and your business should get your head (and network and data) in the cloud.

Mobility and Remote Collaboration

The days of work being confined to the office are over. Whether you and your team are working from home or logging in to get some tasks done while traveling, remote work is now the norm. Fortunately, the cloud makes this easy. With all of your data and important applications housed in the cloud rather than in the office, you can be sure that everyone on your team can access what they need, when they need it, regardless of their location.

Even better, the cloud allows easier collaboration between remote colleagues, or even between two people working on their computers in neighboring offices. With the cloud, everyone is able to work on the same version of a file, in real-time. Ever spend an hour working on a document only to discover that a co-worker has already gone in and made changes, making your work incorrect or moot? With cloud computing, that frustration can be a thing of the past.

cell phone

Security and Disaster Recovery

Of course, the cloud offers massive and scalable data storage solutions. But beyond just offering you more storage, it offers more secure storage, too. Though your data will be on a remote server, most reputable cloud hosting services offer full security monitoring and encryption that’s far more robust and cost-effective than you can implement internally. One 2015 survey found that 94% of businesses that synced their network with the cloud saw an improvement in their internal security.

The cloud also offers optimal disaster recovery capabilities. Regardless of how prepared you are, disasters do strike, in the form of accidents or natural disasters affecting your office, or network issues affecting your data. With your data secure in a remote cloud server though, you can recover much (if not all) that you lost. Not only that, you can recover your data much quicker from the cloud, meaning less downtime and lost revenue for your business.

Cost-Effectiveness and Sustainability

field of flowers and wind turbineWhile migrating your network to the cloud does present some initial costs, those will be offset in the long run by significant savings. For one thing, with the cloud, you’ll only be paying for the server storage space that you actually need and use. You also won’t be spending money and building and maintaining your own servers. The flexibility of the cloud and various services and software that typically come with cloud hosting packages will also save you considerable money (and time), allowing you and your team to work faster, smarter, and more efficiently.

Beyond the costs for your business, the cloud also offers tremendous savings on energy used. Running a business is always going to leave a significant carbon footprint, but the cloud offers one of the most environmentally sustainable solutions. Not only does the cloud cut down on paper waste and other physical expenses, cloud computing is also considerably more energy-efficient than on-site data centers. That means lower energy bills in the short term and a real investment in the planet and your community in the long term.

Find Your Silver Lining in the Cloud With BITS

Flexibility, collaboration, security, efficiency: these are just a few of the ways that migrating to the cloud will benefit you. Your business will be faster, safer, and more able to adapt to whatever challenges and innovations come along.

Don’t get caught standing in the rain: contact Beacon IT Services (BITS) to migrate your business to the cloud. Our expert team of technicians will work with you to seamlessly transition your network and data to the cloud without disrupting your business and service to your customers. Then, we’ll work with you and your team to fully understand the new technology and procedures. Bottom line – We will help you make the most of this powerful new tool.

Ok, one more cloud-related saying: “every cloud has a silver lining.” Well, with cloud computing, it’s all gold. Help your business be its best today and prepare for the future by contacting BITS. We’ll get you migrated right away. After all, with the cloud, the sky’s the limit.

sun shining through clouds

By | 2021-04-23T10:35:15+00:00 April 23rd, 2021|Hosting Services, Computer Related, IT Services|

Business on Top, PJs on the Bottom: Optimize Your Remote Office To Keep Working For You

woman working at home in business jacket and pajama pants “Are you working from home?”

It’s become a common question this past year as the COVID-19 pandemic upended our lives. When it was suddenly unsafe to work in the offices we’d spent years commuting to every day, we adapted fast: spare rooms were transformed into makeshift offices, old chairs were drafted into service as desk chairs, and our home wireless routers were pushed to their limits handling the new wave of traffic from video calls, file transfers, and Slack conversations.

We figured out how to use Zoom and GoToMeeting. More importantly, we discovered very fast that, angled correctly, our computer cameras would only capture the top half of our bodies, so we could throw on a respectable shirt and still maintain weekend-level comfort in pajama pants and slippers.

Yes, with the easier dress code, homemade coffee, and no time spent commuting, working from home definitely had its perks, even if what led us to that situation was tragic. But now, there are some encouraging signs that things may be improving, even if we’re not out of the woods totally yet.

Moreover, even as things return to something like “normal,” going to the office every may be a thing of the past. As more companies permanently move to offer remote work models, it seems increasingly likely that successful businesses looking to attract the best talent will need to take a hybridized approach, where employees can fluidly move from working at home to working at the office and back again.

The key to a set-up, like that, though, is ensuring that your business is optimized for remote work. If it is, you and/or your employees will be able to seamlessly transition back and forth between the home office and the traditional office as changing times and situations demand. If you’re not optimized, you may run into serious hurdles that impact your work.

Take a moment and ask yourself a few questions about your home office set-up, and determine if it’s working for you as well as it should.

coffee and computer at workstationAre you optimized for efficiency?

Because the pandemic hit so quickly, many were forced to scramble to set-up remote work solutions. Things simply needed to get done. But when it comes to ensuring that you can connect with your company servers and databases and collaborate effectively while remote, the quick solution may not be the best one.

Indeed, there’s no one-size-fits-all approach to remote work. Every business has different needs, and finding a remote work solution that best meets those needs is crucial. For many companies, a virtual private network (VPN) will offer the speed and reliability they need. Other companies may find that they also need a remote desktop set-up, so they can access programs they don’t have on their laptops.

Either way, choosing the option that works best for your company will allow your business to run smoothly no matter where you and your team are working from.

Is your network secure?

It’s unavoidable. Working with remote networks opens you and your business up to a variety of cyber-security risks. From viruses and hacks accessing open networks to data and records being stolen from Zoom, the systems and processes that allow for working outside the office allow numerous opportunities for hackers and others to compromise your security.

Does this mean that remote work should be avoided? Not at all. But a bit more diligence is required to stay safe. There a few simple solutions that can make a major difference.

For example, it’s invaluable to train and regularly update your team on best practices for spotting phishing scams and other potential attacks. It’s also important to password protect all valuable data and servers, with multifactor authentication.

One of the most important things you can do is set up a secure shared drive on the Cloud. Not only will this allow multiple people to work on the same file at the same time, it also offers protection through encryption.

man working at computer, smiling

Do you have the tech support you need?

As a beloved band of paranormal exterminators once asked, “who you gonna call?”

In a typical office, when something goes wrong, like a network outage, you know to contact your office IT pro for assistance. But working from home, an outage can make you feel completely cut off. It’s essential to have processes in place to address issues as they arise.

Even better, though, is having a dedicated IT team who monitors your network and can solve problems before they arise and cut you off. Even beyond maintenance like that, a dedicated and professional IT team can troubleshoot bigger picture issue’s with your company’s remote working set-up, and propose solutions and fixes that will prevent any issues from occurring.

We can help you find a remote office solution that really works.

Determining what home office setups work best for you and your team—now and in the long term—can be a daunting task, as can enabling all the protocols and protections you’ll need for cybersecurity. There are so many elements to consider, and there may even be technology and hardware issues you aren’t aware of.

Fortunately, you don’t have to figure it all out yourself. Your Beacon IT Services (BITS) team is ready to work with you to create a remote working solution that will deliver for your business and monitor your network. From selecting the best solutions to getting your network set up to being on-hand to make any changes that you need or address any issues that may arise, BITS will have your back every step of the way as you navigate the best ways to work in this changed (and changing) world. We’re just a click away.

So don’t trade in the sweatpants and slippers for slacks and loafers just yet. (Or ever). Contact us today and we’ll make your home office work as well for you as the real one, for as long as you need it to.

By | 2021-03-24T07:28:46+00:00 March 24th, 2021|System Administration, Cyber Security, IT Services|

Document Storage Solutions for the Work-From-Home Era

working from homeLast month, as many businesses were amending their operations to function in a global pandemic, we wrote about managing the transition to remote work and what small businesses needed to do to make the new arrangement possible. If there’s one positive arising from the COVID-19 crisis, it’s that many of us have been forced to learn the skills necessary to function in the 21st century economy. In the last several weeks, tens of millions of employees have become intimately familiar with video conferencing, VPNs, online collaboration tools, cloud-based document storage and more.

We’re more than a month now into our new normal. Hopefully, your transition to remote work was a seamless one. More likely, your team probably hit a few hiccups along the way. You don’t just unveil a whole new way of doing business without some speed bumps.

One major hurdle for the newly initiated remote-work businesses has been how to store, share and manage sensitive records and information via the web. The big concern is how to do all those things while maintaining tight security protocols. Strangely appropriate, April also happens to be the National Records and Information Management month. So, this topic arises at just the right time on the calendar.

Rising Cyberthreats During COVID-19

cyber criminalYour business’ transition to remote work isn’t happening in a vacuum. In the digital environment there are always threats. And, as we’ve covered in previous posts, criminal activity online is growing every year. The COVID-19 pandemic that’s driving more and more businesses to operate on the web is simultaneously presenting more targets for hackers to exploit.

Cybercrime reports have spiked four-fold in the wake of the global spread of coronavirus, according to the FBI.

“There was this brief shining moment when we hoped that, you know, ‘gosh cyber criminals are human beings too,’ and maybe they would think that targeting or taking advantage of this pandemic for personal profit might be beyond the pale,” stated FBI Deputy Assistant Director Tonya Ugoretz  on a recent online panel hosted by the Aspen Institute. “Sadly that has not been the case.”

Cybercriminals have used COVID-19 themes to go after everything from hospitals and health care systems to wind farm operators. They’ve crashed private – but, unsecured – Zoom calls (Zoombombing) and targeted private email addresses with phishing schemes.

As a result, it’s not surprising that 7 out of 10 organizations reported in a mid-March survey by Adobe that they expected to increase their investment in cybersecurity solutions.

So, what should you, as a small business, be doing to secure your digital environment?

Work-From-Home Solutions

There are a few basic things your business needs in order for your work force to be able to work from home with any efficiency. For starters, your team will need access to and the ability to collaborate on company documents. You will also need to back up the work your employees complete on their company-issued equipment at home. And, of course, you’ll need to protect all of these cloud-based interactions from anyone who might have less than pure intentions.

Secure shared drive

So, let’s start with the company’s shared drive – the library of all your essential documents, from client work and purchase orders to business expenses and marketing materials. Many businesses rely on on-premise servers to house their company shared drive. But, with a network of employees working from their home offices, there is less need to have your document storage on site.

And, there are advantages to a cloud-based solution that’s tailored for remote collaboration. A cloud storage platform, like Microsoft’s OneDrive, allows a team of employees to work on the same document, simultaneously, while maintaining the same working version of the file. The file is also protected through encryption, both while it is being worked on and when transmitting to the cloud. And, there are additional helpful features like data loss prevention, file restore and intelligent discovery.

Beacon, itself, has recently transitioned to a cloud-based shared drive to help our team of employees working from home.

Data Backup

It’s easy enough to backup the data on your employee workstations when they’re in office. It doesn’t have to be difficult to back up your remote employees’ machines when they’re not physically connected to your network. A great solution for centrally enabled data backup is Veeam Backup & Replication. This is another resource we’ve deployed in-house.

cloud securityCloud security

Most cloud applications are created with security features built-in. Still, it’s important to implement protocols and promote habits that further protect your enterprise.

Cybersecurity best practices call for the use of VPNs (virtual private network) for all employees working from home. With cyber attacks on the rise during the COVID-19 pandemic, it is advised that businesses make sure they are updated to the latest versions of their VPNs and all patches are applied.

Multifactor authentication is another helpful security measure. Password protecting your company workstations and all remote applications ensures that your company resources stay safe, even if a phishing attack compromises an employee’s credentials.

Lastly, training your remote employees on how to spot phishing attacks and other security exploits can further reduce the risk of a successful cyber attack.

Beacon Knows Remote Work

Roughing your way through a transition to remote work? The BITS team can help you smooth the way. Give us a call, we’re here to help.

By | 2020-09-22T12:27:02+00:00 April 23rd, 2020|System Administration, BITS Team, IT Services|

The Scary Interwebs: Top Cyber Security Threats in 2019

Big plans for Halloween this year?

The October 31st holiday is an annual pilgrimage to the Altar of the Sweet Tooth for the kids. For adults, on the other hand, the celebration is closer to a fetishization of all things horrifyingly scary.

If you’re a small business owner, or an executive tasked with keeping your company’s digital infrastructure and business data safe, however, you might be forgiven for wanting to skip the terror-fest this year. Why? Because the number and variety of cyber threats just keeps increasing exponentially, year after year, making every day Halloween.

A few obligatory frightful statistics to ponder:

  • A hacker attack on an internet-connected computer or device occurs every 39 seconds.
  • Depending on who you ask, anywhere between 43% and 50% of cyber attacks target small businesses specifically. Oh, and small business typically invest less than $500 on cyber security.
  • Despite the prevalence of cyber crimes and the attention they receive, only about 10% are actually reported – meaning that the statistics above and below may represent the low end of the possible threat spectrum.
  • Some off-the-shelf hacking tool kits are available for purchase for as little as $1.
  • Roughly three out of four organizations lack even a basic cyber security incident response plan.
  • A data breach can often go nearly six months before being detected – and this is true for your financial institutions (Capital One), credit monitoring agencies (Equifax) and even the big boys in tech (Facebook).

What new and potentially devastating cyber threat trends emerged in 2019? Let’s take a look.

Cloud Computing Infrastructure Exploitation

Over the last several years, cloud data storage has become big business, and a popular method of managing your company data. However, non-secure sign-up processes, ease of use and low costs make cloud providers targets for all sorts of nefarious actors.

“Hackers have been found using cloud services to mask their identities while carrying out attacks. We have seen hackers exploiting and abusing popular cloud-based services such as Google Cloud Platform, Microsoft Azure, Asus Cloud, Google Drive, Dropbox, and others to fool their victims. Hackers may use these services to spread malicious code or distribute macro-laden documents and spreadsheets or use them as command and control servers. Hackers were also found using cheap cloud services to host their entire DDoS and brute force infrastructure, and then targeting users and other cloud providers.” – TechGenix

Mobile Fraud

As more and more financial transactions are being initiated on mobile devices, cybercriminals have shifted their exploits to the apps supporting e-commerce.

“Today, mobile fraud is outpacing web fraud. More than 60% of fraud originates from mobile devices. It used to be mobile browsers that were fraud heavy, but now 80% of mobile fraud comes from mobile apps.” – RSA White Paper

Blockchain Privacy Poisoning

Just last year, blockchain technology was being hailed as the most secure method of encryption. How quickly things change.

Hackers have found a way to turn legislation aimed at protecting online consumers – GDPR – into an exploitation through what’s now being called “privacy poisoning.”

“The term […] refers to the insertion of personal data into a public blockchain, thereby making that blockchain non-compliant under the European General Data Protection Regulation (GDPR). According to the GDPR, all individuals have ‘the right to be forgotten,’ so you can immediately see why blockchain technology represents such a problem: by their very nature, blockchains are meant to be completely unchangeable and immutable. So this naturally creates a paradox for organizations: you have personal data ‘on chain’ that cannot be altered, and you simultaneously have the right of individuals to change, alter or delete their data at any time. Personal information cannot be deleted without compromising the chain.” – CPO Magazine

Software Supply Chain Attacks

Not only are hackers targeting cloud networks and mobile banking apps, they’re also going after the source code via software supply chain attacks.

“Attackers hunt for unsecure network protocols, unprotected server infrastructures, and unsafe coding practices. They break in, change source codes, and hide malware in build and update processes.

Because software is built and released by trusted vendors, these apps and updates are signed and certified. In software supply chain attacks, vendors are likely unaware that their apps or updates are infected with malicious code when they’re released to the public. The malicious code then runs with the same trust and permissions as the app.” – Microsoft 

DDoS

Distributed denial of service (DDoS) attacks – flooding a targeted website with an overwhelming amount of traffic – are nothing new. In fact, it’s one of the oldest methods of carrying out cyber warfare.

DDoS attacks were on the decline as recently as 2018. But that trend appears to be over, as Kaspersky Lab notes:

“Last year the number of DDoS attacks was constantly falling, leading Kaspersky Lab experts to assume that cybercriminals who had been conducting DDoS attacks for financial gain had shifted their attention to other sources of income (such as crypto-mining). However, statistics for Q1 2019 contradict this trend and show that the number of DDoS attacks blocked by Kaspersky DDoS Protection has actually grown by a staggering 84%, when compared to Q4 2018. This figure could indicate that such attacks were still in demand, despite being inaccessible when popular DDoS marketplaces were taken down. Once new DDoS-for-Hire websites launched, the number of attacks grew exponentially as a result.”

Beacon Knows Cyber Security

Want to make sure your business is protected from the latest hacker exploits? Beacon is here to help. Give us a call today.

By | 2020-09-22T12:27:02+00:00 October 24th, 2019|Computer Related, IT Services|