The Expert Podcast

Okay here's the perfect example of why you need cyber protection or cyber insurance for any kind of business you have even if it's not a tech company. Here is a story about an apartment building that it says broken into now that doesn't mean somebody broke the window and and opened the door it means that they did a Cyber attack. Why is that because the intercom that was used to call up to you know different tenants you know when you go to the front door of some apartments you push a button or you push the apartment number it rings they can buzz you in.

The hackers broke into that intercom and allowed them to unlock doors open the front door unlock people's doors and also allowed them to get into their computer network to look at things like rental payments uh financial information private information about tenants. So if there is any type of a device on a computer network that's connect connected to the network that device can be used as an entry point to get into the whole network.

So if you have something like a security camera a security gate a badge swipe even small things like smoke detectors or automatic lights those are all connected to your server one way or another and if a hacker can get into that one thing they can Cascade into more sensitive areas like your payroll like your bank bank accounts. So make sure that first of all you have a very good defense but no matter how hard and how detailed you go into cyber defense preparation there's always going to be a vulnerability that you may not know about and certainly you want to reduce them anyway.

But by having a cyber liability policy uh insurance policy what'll happen is that insurance carrier will scan your system on a regular basis to find these vulnerabilities for you that you can patch and they do that for free and they have a response team so when something happens you can um have a phone number to call that they'll jump in and they'll find the vulnerability. Most cyber insurance policies cyber liability insurance policies have this type of these features on their policy make sure that when you're buying cyber Insurance you check to make sure it has it some don't maybe it might be cheaper if it doesn't have it you can make that decision but those are the types of things things that sometimes the value of those two items are worth more than even having the insurance.

Remember the insurance company doesn't want to have a loss either so they're going to do go out of their way to make sure that you don't have these vulnerabilities where you could have a claim but it's a perfect example an apartment building somebody broke into with an iPhone or with a mobile phone in minutes because the intercoms were using default credentials anyone with Google could find that. So make sure that you remember there are probably hundreds of devices on your network you may not even be aware of all of them that can get into your system.

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