'Cyber Risk' means any risk of financial loss, disruption, or damage to the reputation of an organization from any security breach of its information technology systems. In today’s world there are increases in the number of online purchase and service transactions which result in an increased risk of data breaches.
Small to medium size firms are most vulnerable and least prepared to handle a data breach. The greatest risk is “silent-cyber” losses where cyber risk is not specifically covered by a company’s insurance plan. Intercepted communication via smartphones, tablets and wearables drive the rise in cyber risks. In addition, artificial intelligence and machine learning are providing attackers with enhanced tools for more complex attacks.
Inova Cyber Security and its strategic business partners have developed a suite of cyber risk assessment and management tools tailored for any size organization. The assessment tool is real-time and offers a quantification of risk regarding a company’s cyber policies. Inova Cyber Security is also able to determine if a company needs more sophisticated cyber management solutions and internal policies.
Enterprises have inestimable financial risk from cyber breaches that they do not understand, are uninformed as to how they occur, or how they can be effectively mitigated. These risks are estimated to be in the billions, perhaps even the hundreds of billions. Yet most insurance companies are still learning how to measure the costs.
Whatever the costs of breaches and what insurers are prepared to reimburse, enterprises are faced with the loss of productivity due to a breach and are responsible for address the security required to avoid future breaches.
Blurred borders between employees’ personal devices and corporate systems means employees’ personal security postures impact corporate security. Employees use personal devices for work purposes (bring your own device) and companies allow more flexible working conditions that ultimately benefit the business, but at heightened risk of cyber breaches.
In some cases, a cyber-attack can take up to 6 months to detect and more than 65% of all cyber-attacks target small businesses with fewer than 500 employees. An alarming 91% of cyber-attacks are launched with a phishing email. Many small businesses do not have a specialized data protection program while cyber-crime losses are is expected to reach $6 trillion annually by 2021.
Inova Cyber Security
Inova offers end-to-end cyber advisory services together with uniquely valuable protection solutions through our panel of cyber experts to:
- Mitigate, reduce or eliminate losses
- Protect against future attacks
- Continually update protection protocols Confidently operate their businesses
Inova helps educate small and medium enterprises to the cost of not adequately addressing cyber security. We assist enterprises that commit to addressing their cyber security needs by identifying the optimum products and resources for each enterprise and providing such solutions at unbeatable cost by leveraging our high purchasing volume and cyber security expertise. Below are some examples of the types of cases we address:
- Credit Monitoring & Identity Protection
- Anti-Virus/Anti-Malware Protection
- Identity Theft Concierge
- Factor Authentication
- Advisory Services
Inova Cyber Security’s Technology Partners
- Cyber Crucible - ransomware solutions
- Eclypses - micro-encryption protocol to make data useless if/when compromised
- Elemental – comprehensive enterprise cyber readiness assessment
How to Become an Inova Cyber Security Partner
Inova Cyber Security is proud of its network of cyber risk mitigation partners and the valuable services they provide to enterprises and individuals. If you would like to become an Inova Cyber Security partner or would like to learn more about our Cyber Risk Solutions, please contact us at [email protected].
Let’s start working together!