Ironwood Blog Decrypting the Cybersecurity and Cyber Insurance Landscape

Understanding cybersecurity riskIn recent years, data breaches have resulted in major fines, legal fees, and significant duress for organizations, large and small. You have likely followed several high-profile cyberattacks in the news, from breaches at Target and Equifax to the ransomware attack on the City of Atlanta last year. But did you know that more than six million records are breached very day? Or that 55% of small businesses have experienced at least one data breach?No business is immune from attack, whether by hackers or malicious malware; and considering the proliferation of devices that now connect to business networks, the vulnerabilities are exponential. However, cyber security isn't merely a technology issue. It's a strategic business risk that will continue to impact every facet of every organization. It requires a new kind of leadershipand cybersafe culture, requiring the active engagement of both technical and non-technical management. It also requires proactive steps to mitigate and transfer risk.