Cyber Criminals Don't Just Target Fortune 500 Companies
Many small and mid-sized businesses assume hackers are only after big enterprises—an assumption hackers are banking on. Because SMBs tend to invest less in cybersecurity, they’re more prone to attacks, and cybercriminals know that all too well.
Even industry giants can fall to an attack if it’s well-executed. Just a few weeks ago, the ransomware gang BlackCat breached the network of Henry Schein, a large healthcare organization. Dozens of terabytes of shareholder and payroll data were stolen, disrupting operations and harming the company’s reputation.
Ransomware is a form of cyberattack in which criminals encrypt company data so employees can’t access it. A ransom is then demanded in exchange for the decryption key, but even if it’s paid, some hackers may still not restore access. This is a growing threat to businesses of all sizes—not just megacorporations.
- Ransomware accounted for around 20% of all cyber crimes in 2022.
- It’s estimated that by 2031, a ransomware attack will occur every 2 seconds.
- 71% of organizations worldwide were affected by ransomware attacks last year.
With so many threats out there, securing your firm’s data can be overwhelming. That’s why Tribute Tech is proud to partner with McGriff Insurance & Cowbell Cyber to offer full-coverage cyber insurance. Our policy includes:
- Resources for Cyber Awareness Training
- Breach Coaching
- Data Event Assistance
- Security Risk Remediation
Knowledge is the first step to protecting your business. Watch our cybersecurity webinar to learn more about emerging threats and how cyber insurance can minimize their impact.
