Cyber Risk is Real
MMA is finding that organizations are still not doing enough to protect their data or recover from a breach and they are finding that the pace of digital advancement is quicker than their cyber risk preparedness.Employers of all sizes still appear to be vulnerable to the risks of cyber-crime and data breaches. And now there are many technology implications because of changing work environments, such as work from home. A couple of these concerns are: (1) Increases in ransomware, both in sophistication of the attacks and the increase in ransom demands, and (2) The complexity of compliance with enhanced privacy protection laws in many states. Cyber-security and the data privacy landscape is now more challenging than ever, even for the most well-meaning and well-prepared companies.
- In the Marsh 2020 Global Risks Report, cyber ranked 5th in areas risk will increase.
- 76% of respondents expect an increased risk of cyber attacks leading to disruption of operations and infrastructure
- 75% of respondents expect an increase in cyber risk of cyber attacks leading to theft of money or data
With cyber, it is not an issue of if but when an incident may affect your organization.
We have found that once an organization starts to take steps to mitigate a cyber-attack they are more confident that they will be able to recognize, respond to, and recover from the inevitable attack.
Why MMA Cyber Center of Excellence
Let us help you create your comprehensive cyber risk management strategy that will work with all your lines of business. Our knowledgeable cyber risk team has designed proprietary products to protect our client’s assets. Our Cyber center of excellence specializes in technical and complex program design and implementation that not only focuses on cyber insurance, but also cybersecurity. We find that many clients do not understand the many steps and costs they may incur, but with our help we will partner with your organization from planning for cyber risk to the recovery from an attack.
All too often, the cyber-security discussion doesn’t even begin until after a successful attack and that’s far too late. The time to have the conversation is now, before the attack ever happens.
We Are Here to Serve You
At MMA, our consultants will examine your business strategy, working collaboratively across all lines of coverage, assessing, mitigating and insuring all potential risk for your organization. Our focus is on being the leaders in the evolution of holistic network security, privacy and technology risk solutions. We do this by providing world-class services, resources and products to our clients that deliver answers and strategy around their cyber risk plan of action.
For more information or to talk about next steps to enact cyber-security, please contact your local Marsh & McLennan Agency representative.
COVID-19 & Cyber
Cyber Risk for Retailers During COVID-19
Retailers’ reliance on technology has always been important and now during this time of the coronavirus pandemic it has become even more vital in order to ensure business resiliency in a number of areas of operations
Cyber Highlights and Materials
Handouts and materials referenced
CCPA FAQs (from BakerHostetler)
Get Your Privacy House in Order Checklist (from BakerHostetler)
CCPA and GDPR Comparison Chart (from BakerHostetler)
Visit the webinar page to listen to a recording of this online event