The Expert Podcast

• Discussing the rising threat of cyber attacks affecting businesses across industries.
• Even if your business hasn't been affected yet, preparation is crucial.

• Recently, 15,000 car dealerships were paralyzed by a cyber attack, highlighting the devastating impact on operations.
• Losses included inability to sell cars, service vehicles, or perform basic transactions.
• Financial impact: Losing $2 million in sales within a week.

• Dealerships reflect on what they could have done differently to prevent such incidents.
• Article recommendation: "Time to Go on Offense Against Cyber Criminals" from Automotive News.

• Step 1: Implement Active Monitoring
  • Importance of continuous monitoring for unusual activities.
  • Options: Cybersecurity firms or cyber insurance policies with monitoring capabilities.
• Step 2: Understand the Threat
  • Cyber attacks often start with information gathering, leading to devastating consequences if not caught early.
• Step 3: Mitigate Legal Risks
  • Potential lawsuits from customers and employees due to compromised data.
  • Importance of cyber liability insurance covering third-party liabilities.
• Step 4: Assess Business Continuity
  • Unlike physical damage, recovering from a cyber attack can take weeks or even months.
  • Highlighting the importance of having a robust business continuity plan.

• Emphasize the likelihood and severity of cyber attacks compared to traditional risks.
• Encourage proactive steps to protect businesses against cyber threats.

• Visit actualhuman.com for personalized consultations with experts in cybersecurity, insurance, and more.