Cyber-attacks: Is your business vulnerable? » SMEInsider

Cyber-attacks: Is your business vulnerable?

According to the Association of British Insurers (ABI) cyber insurance will be a standard business expense by 2025, a projection supported by recent research: A report issued earlier this year by the government’s Cyber Streetwise campaign found that the average cost of a major security breach is between £65,000 and £115,000 and can force a business to close for up to 10 days.

Despite the clear risks, small businesses just aren’t taking the necessary preventative measures. A quarter of SME owners told Cyber Streetwise that cyber security is too expensive to consider, while a fifth simply don’t know where to start.

But cyber security doesn’t have to be confusing or expensive. Online security and anti-piracy specialist KLipcorp, which has worked extensively with SMEs, as well as with the Wimbledon Championships, BT Group and the Glasgow 2014 Commonwealth Games, offers ‘digital audits’, covering everything from data and information security to IP protection and marketing, for just £2,500. Successful digital audits deliver £25,000 of cyber liability insurance —a requirement for any company seeking a Government contract — underwritten by AIG.

In The Digital Audit KLipcorp explores the background of one recent cyber-attack on Christopher Fry Associates, a leading recruitment consultancy, the action taken to neutralise the threat and recommendations for avoiding such an attack in the future, all in language that non-technical people understand.

Christopher Fry said: “This digital audit, carried out efficiently and promptly by Klipcorp, has brought me peace of mind as a result of the recommendations which the audit made. What appealed to me was that all information in the audit is in language that I understand.”

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