Everyone, it seems, is concerned about cybersecurity, and with good reason. Each week seems to bring a new round of headlines, making it clear that identity theft and criminal cyber activity have become persistent features of our lives.
With trillions of dollars in assets to safeguard, the retirement services industry is now intensely focused on the issue of cybersecurity.
Read Mike Goode’s full article on 401k Specialist’s site here.
Hacking that targets individuals and business is now a way of life. This has created a vast and growing market for cyber insurance, costing companies at least $3.25 billion each year in annual premiums. But that’s a drop in the bucket compared to what they will pay to insurers by 2025 – as much as $20 billion, according to Allianz SE, the world’s largest insurer. There is also a market for individuals who fear that they, or their families, could be hacked.
To learn more, read Ed Leefeldt’s CBS News article. Contact us to review your cyber and crime policies and coverages.
As another reported ransomware attack spreads, we want to remind you to contact us to make sure your Cyber and Crime policies are current, and of the following tips to reduce your risk:
- Download Patches
- Back up your computer
- Install protection programs
- Don’t click on anything suspicious
- Protect yourself when using public Wi-Fi
To learn more, read the article by Madeline Purdue on USA Today here.