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THE BLOG

Is your business protected? ESCO offers Cyber Security Insurance

Did you know 51% of Americans have reported cybercrimes? October is Cyber Security Awareness Month and ESCO wants to help protect hearing healthcare practices from becoming a victim. The trusted leader in hearing device protection for 35 years is now offering cyber security insurance. Cyber security insurance can help protect your hearing healthcare business from losses resulting from cyber-attacks, such as malware, phishing, and social engineering scams.

“Almost every business, no matter how small, can be the victim of a costly cyber-attack. If you use computers in your business, you need cyber security insurance. Hackers look for vulnerability in businesses. Therefore, small businesses are typically an easier target,” explains Jim Guthier, CEO, ESCO.

Cyber-attacks are not new. In fact, Cybersecurity Awareness Month was founded 20 years ago. It’s aimed at promoting awareness and best practices when it comes to technology usage. Technology is deeply rooted in Americans’ lives. It follows us wherever we go from home, work, and school. Emerging technologies have many great benefits for society, but with each new technology comes new opportunities for bad actors to disrupt online activities.

It’s important to be vigilant: use strong passwords, use multifactor authentication, install updates regularly, and report phishing scams. But even with top notch online security in place, your business can still fall victim to a cybercrime. According to the National Cyber Security Alliance, 60% of small businesses that experience a cyber-attack go out of business within six months.

A cyber security insurance policy will recoup the loss, and damages caused by the attack, including: ransom payments, data & system recovery, business interruption, reputational harm, legal & investigative services, financial fraud, and cryptojacking.

“You can install all the necessary and best stop gaps to try and prevent a hack, but the reality is cybercrimes happen to businesses even with all the best security measures in place. When you become a victim, cyber security insurance allows you to recover your losses and continue business operations. In this day and age, cyber security insurance needs to be part of every business’s risk management strategy. The risk is too high not to be covered,” adds Guthier.

For more information about cyber security insurance, please visit www.escoprotection.com/cyber. For media inquiries or to schedule an interview with an ESCO Cyber Security Insurance representative, please contact Keira Bresnahan of The Lewis Agency at (970) 730-2872 or keira@thelewisagencyllc.com.