Cyber Risk

More Connectivity Will Lead to Greater Cyber Risk

It’s not hard to believe that the connectivity of the world today has led to a lot of business growth. It’s easier for a company in China to do business with a company on the other side of the globe because of the internet. Connectivity is a huge benefit to companies, but it may also lead to greater problems in the future. The cyber risk of businesses today is much higher than it was in the past.

Human Error

With more companies using computerized data, the human error component is becoming a bigger issue. Employees who don’t understand cyber security can lead to huge caches of data disappearing or becoming public. While this risk has always been around, as businesses become more connected the risk is multiplied.

Viruses and Hackers

Now that companies are able to do business with people around the globe, there are more risks due to breach. These breaches can have huge consequences as well. Businesses can lose billions of dollars in the blink of an eye when a hacker is involved.

Protect Your Business

As companies become more connected, it becomes more and more important to mitigate cyber risk. You can protect your business by working with an insurance agent. He or she will be able to help you get policies that reduce your risks in this and other aspects.