Battling Breaches

Issue 9.32

August 18, 2023

BATTLING BREACHES AT YOUR BUSINESS

WHY CONSIDER CYBER INSURANCE

Imagine logging in to your company computer system on a Monday morning to blank computer screens and a demand for $300,000 ransomware to regain access to your lost business records. What would you do? Who would you call—your IT vendor, the police, the FBI?

The widespread use of email and its inherent vulnerability to breaches has led to increased hacking, manipulations, and the tricking of many businesses into wiring funds into hackers’ bank accounts—known in the insurance industry as social engineering. Read more >

FAST FACT: According to Chubb Insurance's Cyber Center, hackers attack every 39 seconds, on an average of 2,244 times per day.

10 CYBERSECURITY TIPS FOR SMALL BUSINESSES

FEDERAL COMMUNICATIONS COMISSION

1. Train employees in security principles

2. Protect information, computers, and networks from cyber attacks

3. Provide firewall security for your Internet connection

4. Create a mobile device action plan

5. Make backup copies of important business data and information

6. Control physical access to your computers and create user accounts for each employee

7. Secure your Wi-Fi networks

8. Employ best practices on payment cards

9. Limit employee access to data and information, limit authority to install software

10. Require employees to use unique passwords and change passwords every three months, and consider implementing multi-factor authentication that requires additional information beyond a password to gain entry

BUSINESS SPOTLIGHT

HARVEST RIDGE WINERY

Nestled on 140 acres on the Delaware-Maryland border and the home of Mason Dixon crown marker 47, Harvest Ridge Winery is proudly celebrating 10 years of award-winning winemaking. With their main location in Marydel, DE and a second tasting room in Toughkenamon, PA, Harvest Ridge has grown from a small family farm with four different grape types to a 17,000-case winery with 25 different varietals. Read more >

SEEKING NOMINATIONS!

MARVIN S. GILMAN BOWL

The Small Business Alliance is now accepting nominations for an award of distinction to an individual (not an organization) who has made outstanding contributions to the small businesses and nonprofit organizations of Delaware. This Marvin S. Gilman Bowl recipient is not disclosed to the public until it is presented at the annual Superstars in Business awards luncheon on November 8. The deadline to submit a nomination is Friday, September 1. Learn more >

Submit a nomination >

President's Message

According to the National Retail Federation, 70% of retailers believe that the threat of ORC has increased over the past five years. Last week CNBC released a story on the increase and points out: "Retail theft is real and causes major issues for businesses, but companies are not required to report data on how it is affecting them and it is nearly impossible to verify their claims." Read more >