L Squared Insurance Agency Blog: cyber insurance
View the latest blog posts from L Squared Insurance Agency.
Wednesday, May 8, 2024 We continue to get the following email or different versions sent to our payroll department purportedly from a current or former employees: Please Amend my Payroll Information From: Employee (Dimetry) oshjhlkjjh5@gmail.com To: Payroll Hello good day, READ MORE >>
Tuesday, May 7, 2024 Cyber threats are an ever-present concern across businesses, nonprofits and public entities with organizations of all sizes often targeted by advanced and evolving attacks. The annual Travelers Risk Index shows cybersecurity persistently remains a top concern. READ MORE >>
Wednesday, March 27, 2024 A Cyber-Criminal need not break into a law firm’s email system to make the law firm the next data-breach victim. Any time funds change hands electronically there are multiple parties to the transaction. Cyber security is only as strong as the weakest link. READ MORE >>
Wednesday, May 3, 2023 Forty-three percent of cybersecurity data breaches involve small businesses. The idea that only large companies are at risk of cyberattacks has been popular in the past, but only because they are most often reported on in the news. READ MORE >>
Wednesday, April 5, 2023 Data breaches are becoming increasingly costly for companies. In fact, the average total cost of a data breach grew from $3.86 million in 2020 to $4.24 million this year. The increase in expenses coincides with a significant upswing in ransomware attacks—today’s average weekly ransomware activity is 10. READ MORE >>
Monday, February 27, 2023 The following email was sent to our payroll department purportedly from a current employee: I WANT TO AMEND MY PAYROLL INFORMATION From: Employee Name oshjhlkjjh5@gmail.com To: Payroll Hello good day, I have recently had problem with my current bank, can you update my payroll direct deposit information ? READ MORE >>
Wednesday, February 22, 2023 1. “Cyber is already covered by other lines of insurance…” Cyber cover in traditional lines of insurance often falls very short of the cover found in a standalone cyber policy. While there maybe elements of cyber cover existing within traditional insurance policies, it tends to be only partial cover at best. READ MORE >>
Tuesday, February 21, 2023 Cyber Insurance has become a necessity in the modern business landscape as cyber crime continues to increase in number and sophistication. The average cost of a data breach in the United States currently amounts to $9.44 million. According to industry data, the global cost of cyber crime is expected to rise by $23. READ MORE >>
Tuesday, February 7, 2023 Law firms safeguard their clients from legal peril. But they themselves face enormous cyber risks. According to the 2021 ABA survey one in four law firms have been breached at some point. The amount of data and money with which legal practices deal make them irresistible targets for threat actors. READ MORE >>
Tuesday, January 24, 2023 When cyber-attacks hit big businesses, expensive problems can result, but the company may be able to absorb the costs. Small firms are in uncharted territory after a cyber-attack. On average, a cyber-attack can cost them anywhere from $120,000 to $1.24 million. READ MORE >>
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