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Did you know your cyber insurance may not cover if you’re running outdated software?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 Yet, nestled among these requirements is a silent risk—outdated software.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!
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Frequently Asked Questions
eSudo is a local managed IT & Cybersecurity services (MSP/MSSP) company that helps businesses make technology seamlessly work over the last 22+ years in Silicon Valley. What sets eSudo apart is we focus on security first, and IT support happens to be part of the security services.
Our team of experienced and certified computer engineers understands that no two businesses are alike, that’s why we partner with our clients to develop efficient and cost effective computer networks, cloud solutions, network security, and phone solutions that help you run your business.
As a local Microsoft Partner and Cloud Technology Specialist, eSudo has the knowledge, skills, and commitment to help you implement modern technology solutions that match your exact business needs.
Our goal is to Keep your IT Systems running and data Secure (KISS) so you can focus on running your business safely!
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 IT support company; we focus on security first, and IT 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.
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