Questions? Contact Us

 

Latest News

Featured News & Events

Critical needs for any business owner: Cyber liability insurance and secure website hosting

Critical needs for any business owner: Cyber liability insurance and secure website hosting

Cyber liability insurance has been around for 25 years and is a popular coverage, but we've found there's still plenty of people who don't know much about it.

Or even why they might need it.

A 2016 LexisNexis research report shows that this year compared to last year, every dollar of fraud cost merchants $2.40, up from $2.23 a year ago. The LexisNexis report also finds the volume of fraud has risen sharply in the last year in a survey of more than 1,000 risk and fraud executives in ecommerce and multichannel retail organizations.

The monthly average of successful fraudulent transactions jumped from 156 to 206, while the number of prevented fraudulent transactions also increased, from 177 to 236, according to LexisNexis. The level of fraud as a percentage of revenue has inched upward from 1.32 percent to 1.47 percent.

It's more than that, though. For business owners with websites and online services that include merchandise, or product sales for fee-based services, or have personal information of consumers — think a medical billing office, for example — it's critical to have secure hosting services and compliance with all regulations.

Think of it as enjoying security in an insecure world.

We spoke with Neil Waranch, a sales executive at Insco Insurance Group in Virginia Beach, about this issue and he said he personally knows a lot of people who have been affected by cyber fraud, including himself. About six years ago he got a call from his bank saying his credit card had been used in a series of transactions outside the state. Waranch traced the stolen information back to the use of his credit card in a fast-food drive-thru the previous day. So theft can happen to anyone in any situation, whether you're hitting up a fast-food joint, a big corporation, or the federal government.

For businesses, when cyber-related fraud happens the question becomes: Who will take care of you? In an age when anyone can be hacked, Waranch says it's critical for businesses to have both cyber liability insurance and a plan in place. It's a must have to cover companies, damages and even court costs. Policy cost is minimal compared to the catastrophic cost that can occur.

Insco Insurance Group provides cyber liability insurance for protection purposes and Waranch suggests anyone who has a website and takes credit cards must have it. He stresses that small businesses can be absolutely devastated by a breach.

Waranch cites an example he heard first-hand of the owner of a coffee shop in a small town that got hit with a data breach and did not have cyber liability coverage. The business got wiped out by lawsuits, attorney fees and not to mention the damage to reputation.

How secure is your website hosting service? At ZZ Servers, our secure web hosting is not only affordable, especially for small and mid-size businesses, but has the topflight security that the biggest businesses demand.

Some of the features of the ZZ Servers secure web hosting services include:

— Server log retention and review;

— File integrity scanning and intrusion detection;

— Server level security and patches;

— Enterprise server hardware with multiple levels of redundancy.

— PCI Validated Web Hosting and Services are included.

For security, peace of mind and to ensure your business has a future, be sure to carry cyber liability insurance and talk to us about website hosting services

Building a secure infrastructure shouldn’t be this...
A history of PCI compliance and why there’s a need...

Related Posts

 

Tag Cloud

Web Hosting Firetalk Presentation permissions employee training two factor authentication PCI email accounts Xen caller-id Windows Disaster Recovery Plan Hackers TiaraCon search Las Vegas Internet recovering data Online Business amazon ec2 cli Accountability Act safe computing Cybersecurity business solitions spam Payment Card Industry education data privacy security passwords healthcare solutions cyber monday hosting control panel Compliance support follow.The HIPAA Privacy Rule Announcement Reports PCI Solutions IT solutions motivation computing in the cloud vyatta router firewall filter security PCI HIPAA eCommerce Charleston physical security National Cyber Security Awareness Month Health Insurance Portability cell phone email PCI compliance ICANN teensy health care providers Security mail server compliant hosting phishing shared secure hosting VPS Servers bash dsbl Linux vulnerability scanning cybersecurity lamp small business InterWorx arduino HIDS Small Business blackberry information technology physical shared hosting multi-factor authentication business solutions change PCI Hosting Positive Customer Impact BSides Hosting compliance embedded Email ZZ Servers business PCI DSS 3.2 video cyber protection windows 7 activesync cloud infrastructure Shmoocon iphone password command line social engineering credit card payment David Zendzian World Backup Day Cloud Computing shared server Scalable Redundant Cloud Infrastructure trends QSA Zendzian OSSEC Control Panel TLS phishing attacks intrusion detection Business Solutions Information Technology infrastructure HIPAA solutions Medical Records spoofing HIPAA IT security protect data assesment Business Planning Debian Credit Card Security DEF CON SSL Car Hacking logical security PCI Data Security Standards IT services PCI Compliance vps HIPAA Solutions Interworx-CP data breach Health Care Cybersecurity DRP credit cards stolen PCI Audit data protection PCI Service Provider Geekend credit card IT Solutions Alarm business community cyber monitoring Continuous Monitoring kerio apache GDPR Home Depot Breach Internet infrastructure openssl network ipad ZZ Servers Co-Founder shared folders exchange personal information smartphone HIPPA backup solutions malicious software IT IT Services sender policy Ubuntu spf CentOs computer networks qsa pci complliant hosting Domani Names eCommerce Solutions Cybersecurity Business Solutions Internet Corporation anti virus security circles dss Sysadmin businesses black friday cloud Credit Cards Healthcare Records Vulnerability cyber log files cyber liability insurance cyber security computer security Assigned Names Medical Solutions members area INFOSEC management Server Mangement