Staying on Top of Cyber Security

Doug Witcher | January 6, 2022

CEO Newsletter

Doug Witcher, CEO of Smart Choice, a network for independent insurance agentsWith all of the hats independent agents must wear, the day-to-day operation of running an agency, and crises demanding your immediate attention, it can be difficult to find time to manage the security of your clients’ information. In this business, we handle so much sensitive personal and private financial consumer information that we have to be vigilant about staying on top of cyber security. It is important to always be cognizant of potential threats in order to preserve your clients’ security and that of your book of business. Making sure you are aware of these risks now will save you time and money in the long run.

In addition, times have changed rapidly in the last two years with nearly all companies having to shift to total or at least partial remote work environments.

According to the Mimecraft’s, “The State of Email Security Report”*:

In 2020, the global pandemic caused a global shift to remote and hybrid work, forcing organizations to pivot the way they operate practically overnight — with little to no preparation. And where most organizations saw crisis, cybercriminals saw opportunity.

Some stats from the report:

  • 61 percent of companies suffered a ransomware attack last year
  • 64 percent of companies saw a rise in email threats
  • 79 percent of organizations were hurt by their lack of cyber preparedness

Your agency’s size doesn’t matter – everyone is a viable target, and it takes hackers only seconds to steal entire databases of information, opening you and your agency to liability, and causing a huge headache for the people who have given you, their trust. That trust would be irreparably damaged and likely cost your clients.

We’ve devoted this issue of Smart Choice Magazine to continue building knowledge and awareness around cyber security. Some of our carrier partners like RPS Insurance and Nationwide have a wealth of material about cyber security which they’ve shared in their articles. Knowledge is power. This holds true in any aspect of business, and doing your part to safeguard against potential attacks is no exception. Build your understanding of internet threats now and be proactive versus reactive in the wake of an attack. 

By advocating for the safety of your clients’ private information, you are reducing liability and providing security to your own agency. 

*https://www.mimecast.com/state-of-email-security/

Cover of the 2022 Issue 1 Smart Choice Magazine titled "Cyber-Security: More Important Now than Ever!"Cyber-Security: More Important Now Than Ever!

In this business, we handle so much sensitive personal and private financial consumer information that we have to be vigilant about staying on top of cyber security. From phishing attempts to identity theft to ransomware attacks — everyone is a viable target and should be prepared. Check out the 2022 Issue 1 of Smart Choice Magazine for tips on protecting yourself and your clients from cyber threats.

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