cybercrooks and should think like them before adapting to any new technology. They should analyze things like what is it about their service that attracts hackers? He recommended checking into email protection, double-verification logins, and ensuring that workers are trained on how to spot or prevent cybercrime. He said that simplifying deals has become significant in supporting small and medium-sized enterprises.
Ho advised the businesses to be careful while implementing new technologies at work. He said, “As companies employ new technologies, they should be aware of how they’re increasing their risk, expanding their attack surface”. According to Ho, the importance is maintaining a balance between risk and having sufficient technology to operate a company. Furthermore, some policies include connecting impacted businesses with forensic experts to resolve issues.
According to Yusuf, point-of-sale systems could be hacked, affecting the payment process. He also highlighted that systems or data could be locked for ransom, which is usually paid in Bitcoin. Both of these scenarios could result in brand harm as well as financial loss, which would impact the entire business. He said, “Businesses are changing rapidly in this environment”.
Yusuf also advised that businesses should discuss all their demands and expectations with the brokers prior to purchasing any insurance, and should get everything verified in writing, including any adjustments that might be required. He said, “It puts your insurance broker on the hot seat to provide you appropriate coverage” .
