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Cyber Risk Was Hot Top at Final Session of 20th Professional & Business Seminar

The final session of the 20th Annual Professional & Business Seminar centered around the hot topic of cyber risk. Chaired by Greg Kirsch, Chair, Professional Connector (SGR), the lunch event was hosted by Berman Fink Van Horn and featured Ralph Pasquariello, CLCS Commercial Liability Specialist at Snellings Walters Insurance, Greg Freemyer, Senior Consultant at IAC Forensic Services, Jason Bernstein, Partner, Intellectual Property Group at Barnes & Thornburg, LLP and moderator Derek Harp, Co-Founder and Vice President at NexDefense, Inc.

Israeli contributions to the cyber landscape are impressive. In 2015, there were 16 Israeli companies on the Cybersecurity 500 list of the world’s hottest and most innovative cybersecurity companies. In 2016, there were 26. Imagine what 2017 has in store. The Israeli cybersecurity industry is worth half a billion dollars annually. Israel is at the forefront of this industry – a knowledge gained from personal experience.Cyber crimes are at an all time high – for both businesses and individuals. Recent reports have found that the net loss due to cyber crime now outweighs the global narcotics trade. Today, cyber crime costs more than $1.0 trillion to society, with billions of dollars being stolen from small, medium and large-sized enterprises.

The seminar discussed a multitude of topics and questions surrounding cyber risk including what can be done to protect yourself from cyber crimes, data security audits, cyber preparation, cyber insurance and more. The message was clear: no matter what size your company is, prevention, protection and defense from cyber attacks is a necessity. Here’s what you should know about securing your business and personal data from cyber attacks:

  • Perform a Cybersecurity assessment including a device and data security audit
  • Purchase Cyber Insurance
  • Understand what is “reasonable” for your industry and comply with that standard
  • If there is a breach, limit it, manage it and bring in expertise
  • Distribute and utilize work devices (phone and laptops). Do not use personal devices
Personal steps:
  • Separate devices from one another to prevent spread or further infiltration
  • Use safe web browsers (those less likely to be hacked) and those that have separate tabs to limit hacking
  • Mindful of cameras on all devices (TV’s, phones, computers)

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