IT services in Atlanta have become more integral than ever for a variety of reasons, one of them being the cyber liability. Just because you are not the one responsible for a mistake does not mean you are not liable for it in a legal sense. This is especially true with HIPAA, where even the technology solutions provider is fined should it be found that operations are out of compliance. This happens because of something called shared liability. Incidentally, this is a legal term, which spreads fines around. However, did you know that even if you are just operating a single website, you could bear operational liability? Any website that a user can input personal data into could potentially be hacked. Should it be, and that user is compromised as a result, your business will share responsibility in a legal sense. However, if you have liability insurance, this is not an issue.
Tech Liability Insurance
There are different levels of liability insurance; you will increase coverage if you vie for the more expensive options in most cases. If you think protecting yourself against digital criminals may be a little over-the-top due to your operation’s size, think again.
Cybercriminals
Cybercriminals routinely target small businesses, precisely because these are more often likely to produce profitable results. If all the invoice and proprietary data of a five-person business are tied up in one hard drive, then you can bet they will pay $20k to get that information back! Meanwhile, a larger business may be able to cut losses, depending.
Cybercriminals are looking for the greatest positive results for the least expense. Thus, they are a lot less likely to target big, established corporations. One of the reasons IT services in Atlanta have seen such an uptick in terms of security needs is because of this pernicious cyber threat. Do you realize that cybercrime is set to hit $2 trillion in terms of impact by next year?
A Surprising Breakdown
That is larger than the GDP of most countries. Now, granted, these are global numbers; but they are still not encouraging. Getting the information of people today is an industry unto itself. There are premiums on data, and everything bears its own price. For example, according to this site, obtaining data pertaining to your full identity could be worth $6 to $80 to a hacker; so, could your Gmail password and username, and your credit card including your personal information. A credit card with just $1k is worth $25 to a hacker. Meanwhile, a bank account including legitimate credentials is worth between $15 and $850. Surprisingly, a scanned Utility Bill is only $10, though getting the password and username to a Facebook account is worth $300 to the cybercrime community.
Even if you are a very small business, it is likely you have all those things. A hacker could take one perusal of your computer without you even knowing it and reap over $500. That is worth a day’s work.
Insuring Your Business
IT services in Atlanta through MIS Solutions, Inc. can help you obtain liability insurance solutions pertaining to your digital needs. Additionally, we can help provide an advanced suite of cutting-edge technology solutions and top-tier consultation. Contact us to optimize your operation’s technology assets.