Is your business still using software from the Stone Age? Your cyber insurance provider might be seeing red flags. Dive into our visual guide to safeguarding your coverage and staying ahead in the digital game!”
Did you know your cyber insurance may not cover if you’re running outdated software? Fear not, as we delve into the critical reasons why staying up-to-date is not just essential but a financial imperative for businesses.
Below is an example of cyber insurance provider, Chubb, updating their policy to required business use current software. If you do not use the current supported software version, you have limited coverage.
1. Unraveling the Cyber Insurance Conundrum for CEO and CFO
In the digital age, safeguarding your business against security breaches is paramount. Cyber insurance appears to be a logical step, akin to fortifying your castle against potential invaders. However, the intricacies lie in the details, particularly when it comes to your software infrastructure.
🛡️ Imagine your business as a fortress. Before the insurance gatekeepers grant approval, they scrutinize your cybersecurity measures. From antivirus protection to security awareness training, the checklist is comprehensive. Yet, nestled among these requirements is a silent risk—outdated software. 🕵️♂️
2. The Hidden Dangers of Running Ancient Programs
Your cyber insurance provider isn’t just concerned about the physical doors being locked; they’re equally vigilant about the virtual ones. Running ancient programs, like Windows 2012 or QuickBooks from the Stone Age, poses a potential risk.
The consequence? Your coverage may be compromised or denied, and if granted, brace yourself for skyrocketing premiums due to the high-risk categorization.
3. Navigating the Tech Landscape: A Businss Owner Guide
So, what’s the solution? We advocate for an annual or periodic risk assessment of your network environment. It might sound daunting, but trust us—it’s an investment worth making! CEOs and Controllers, it’s time to shine a light on those digital corners and give them some tender loving care.
Staying Ahead of Cyber Insurance Concerns
How do you keep those cyber insurance worries at bay? Stay ahead of the game by ensuring your software is not only updated but also supported by the vendor! It might be time for a tech makeover anyway; who knows what hidden gems and exciting features you’re missing out on?
Prevention Is the Best Policy
In the financial world, prevention is always better than a hefty insurance claim. Take a moment to evaluate your business risk and ensure your network security is rock-solid. Your cyber insurance provider—and your peace of mind—will thank you!
Conclusion
As the CEOs or Controllers, your role is pivotal in steering the financial ship. Consider this a navigation chart through the intricate waters of cybersecurity and software management. Stay updated, stay secure, and let your business fortress stand impervious to the digital storms. 💼💻
Book A Call Today to learn more or if you have questions.
Frequently Asked Questions
At eSudo, we help your law firm, accounting practices and small business feel like a big business when it comes to technology. For over 23+ years, we give you all the tools and support you need without the cost of hiring extra staff. That means if things go wrong, you don’t have to worry about layoffs or added expenses.
Our IT services give you the power of a large business at a fraction of the cost, helping you stay competitive in today’s digital world. With us, your business can compete with the big players and make more money while staying secure and efficient.
We specialize in working with professional service organizations like law firms, accounting firms (CPAs), and wealth management. However, eSudo have helped other business such as non-profit organizations, manufacturing and other small businesses after we have reviewed their needs and determined if they are good fit for our services.
eSudo is not a traditional computer support company; we focus on security first, and computer support happens to be part of the security services. In the dynamic landscape of network security, a proactive approach is key to safeguarding your business. It’s not a one-time event but an ongoing commitment to keep your systems resilient against evolving threats. With the rise of a mobile workforce and the omnipresence of phishing attempts or social engineering or AI, educating your employees, continuous monitoring and proactive support are vital to prevent data breaches.
If your business is looking for break-fix support or hourly IT services, we may not be for you because we cannot fully manage your risks and more importantly, it creates a trust issue in our relationship. Under a “break-fix” model, there is a fundamental conflict of interest between your business and eSudo.
“Over 97% of American businesses in 2023, operating in a digitally-driven landscape, heavily rely on the Internet for essential functions such as productivity, performance optimization, streamlined communication, bolstered sales, and various other facets of their daily operations. This heightened dependence on digital infrastructure, however, comes with a notable caveat: more than 87% of small businesses are entrusted with customer data that could be potentially compromised in the event of a cyberattack.”
We keep your IT Systems running and data secure with our proven IT Strategy, Managed Security, and Proactive Support & End User Management. Our Strategy focuses on identifying, prioritizing, and recommending the right technology for your organization. Our Managed Security includes data backup, device encryption, zero-trust access management, and policies & procedures. Our Support includes a live phone help desk, 24/7 monitoring, on-site support as needed, employee onboarding, and asset procurement.
Proven track record: We have been building our loyal customer base since 2001 in an industry where IT consulting firms come and go. Our customers, vendors, and employees stay with us because we build and value long term relationships with them. With operations all over the San Francisco Bay Area, eSudo provides reliable IT support to Northern CA-based businesses and beyond. We’re big enough to offer the facilities, services, and expertise you expect and small enough to provide the support and attention you deserve.
People & Process: Over the last 22+ years, we have created and adopted a proven process to ensure success in our operations and have trained our people to follow our proven process to provide consistent results for our customers.
Quality: We do not sell what we have not used or have tested. We recommend industrial and commercial-grade products for small businesses to provide uptime and reliability for our customers.
Responsiveness: A live person will answer your call, and emergency response time is one hour or less guaranteed. We use the most current remote support technology which lets us log in to your computers remotely to address many issues without the need to wait for a technician to come on-site.
This is a very difficult question to answer because not all environments are the same, we will do our best to explain some general pricing guidelines.
For a business with 10 to 50 employees, IT support is a crucial investment to ensure smooth operations and data security. This support includes system maintenance, cybersecurity measures, help desk services, data backup, and software updates. As an IT manager and business owner, allocating a reasonable budget for IT support is essential to prevent downtime, protect against cyber threats, and ensure the firm’s efficiency and success in the digital era. Neglecting IT support can lead to potential vulnerabilities and higher costs in the long run. Thus, viewing IT support as a necessary investment is vital for sustaining your firm’s operations effectively and securely.
A typical price for IT Support and Cybersecurity ranges from $185 to $300 per user per month. Actual cost will be determined after we meet and perform an assessment of your environment.