Almost every CEO in the United States is preparing for a potential recession in the next 12 to 18 months, according to a recent survey from The Conference Board at the Associated Industries of Massachusetts. Each month, AIM rates their members' business confidence and it is trending downward as members brace for a recession. From their site: "The AIM Business Confidence Index (BCI) lost 1.4 points to 53.9, its lowest level since June. The Index now rests 5 points lower than its level of a year ago. The decrease reflects the swirl of contradictory elements roiling the economy – surging inflation, rising interest rates and shrinking economic output on the one hand and a persistently strong demand for workers on the other."

This confidence has eroded to lows last seen during the Great Recession, the survey found. The Fed’s fight against high inflation has been getting tougher, stoking worries that the rapid fire of aggressive interest rate hikes will lead to a downturn.

We offer this report to our clients, and to those we hope to serve, as an advisory to help bring focus to the IT infrastructure and security investments that seemingly become even more paramount in a downturn. In this economy, businesses need to be as smart as possible with their spending. One area where companies cannot afford to cut corners is in their IT strategies and technology investments, deployment and best practices. By avoiding these seven costly IT mistakes, your business will be in a much better position to compete in this economy.

Here are seven costly IT mistakes that can be easily avoided with some forethought and planning.

1. Not properly investing in security

Not investing in security can be very costly for a company. In this economy, it is even more important to make sure that all of your systems are secure and protected from hackers and other cyber-attacks. Failing to do so can result in lost data, stolen identities, and other serious problems. For example, a recent study by the Ponemon Institute found that the average cost of a data breach was $3.8 million. Not prioritizing cybersecurity is a large problem in the small and medium sized business category. With data breaches becoming more and more common, businesses need to prioritize cybersecurity. This means investing in the latest security technologies and training employees on how to spot and avoid threats.

2. Failing to plan for disasters

Disasters can happen at any time, and it is important to have a plan in place in case of an emergency. Failing to plan for disasters can result in lost data, damaged equipment, and even business closure. Make sure you have a plan in place so that you can quickly and efficiently recover from any type of disaster.
One step that IT directors should take in properly planning for a data disaster is to create a comprehensive disaster recovery plan. This plan should include detailed instructions on how to recover from a variety of disasters, such as a data breach, a fire, or a natural disaster. It is also important to test your disaster recovery plan regularly to make sure that it will actually work in an emergency.

3. Understaffing IT departments

Understaffing IT departments can lead to many problems for a company. Not only can it be difficult to get work done when there are not enough people to do the job, but it can also be very expensive to hire outside contractors when there is an urgent need. In addition, understaffing can lead to security vulnerabilities and other problems, such as data breaches.

It can be difficult to get work done when there are not enough people to do the job. Understaffing IT departments can lead to many problems for a company, including data breaches and other security vulnerabilities. Failing to address understaffed IT departments can be costly for a company, so it is important to take action as soon as possible. A co-managed IT solution may be worth exploring.

4. Having out-of-date systems and software

Having out-of-date systems and software can be very costly for a company. Not only will you have to pay for upgrades, but you may also experience compatibility issues and other problems. In addition, using old software can make it more difficult to protect your data from cyber-attacks.
Out-of-date computer and network systems can pose a number of risks to businesses. For example, using outdated software can make it more difficult to protect your data from cyber-attacks. Additionally, out-of-date systems may be less efficient and more difficult to use, which can lead to decreased productivity. Additionally, using old hardware can cause compatibility problems and other issues.

5. Overlooking the cloud

The cloud is a term used to describe the use of remote servers to store and access data and applications. This can be a great option for businesses because it allows them to access information and applications from any location, and it can also help them to save money on IT expenses. In addition, using the cloud can help businesses to become more efficient and agile.

Overlooking the cloud can be a mistake for many companies. The cloud can provide many benefits, such as increased flexibility, scalability, and cost savings. In addition, the cloud can help to protect your data from disasters and make it easier to recover in the event of an emergency.

6. Lack of employee training

Lack of employee training can lead to many problems for a company. If employees are not properly trained on how to use new systems and software, they may make mistakes that can be costly. In addition, if they are not familiar with company policies and procedures, they may violate them and put the company at risk. It is important to provide employees with the training they need to properly use new systems and software. In addition, it is important to train them on company policies and procedures. By doing this, you can help to reduce the risk of mistakes and policy violations.

7. Not having a sound budget for IT

How much should a small business spend on information technology? No business wants to invest more than necessary, yet too many businesses we see are critically underspending, while expecting best in class performance. In which areas do I invest my precious IT funds?

Investing wisely requires insights and knowledge that experts such as our team can offer, to help make the best decisions. The rule of thumb may vary according to the industry you are in, and the business goals of the company. In small business, it is suggested that a 4-6% average (of top-line revenue) is a great recommended guideline, but the final number will depend on your company's individual needs and goals. The real answer lies in understanding where technology investments should be made in order for your computer network, or IT infrastructure, to be safe and secure while providing the resources for your company to operate and thrive.

Bonus #1: Not Preparing for Change

The future is coming, and it means change. Nothing is constant and there are no crystal balls, yet we can plan to some degree, with contingencies, too. Not preparing for change is a mistake that many companies make, especially when it comes to IT planning. The world is constantly changing, and companies need to be prepared for changes in the economy, technology, and other areas. Failing to prepare for change can result in lost opportunities, missed deadlines, and other problems.

There are additional costly mistakes that belong on the list, to be sure. This is why we conduct a business and technology review with each client, and for the people we want to serve who are not yet in our client portfolio.

Bonus #2: The Need to Update UPS WorldShip or FedEX Shipping Manager

As companies strive to manage costs and improve efficiencies they are turning to UPS WorldShip and FedEx Ship Manager for help.  This shipping management software regardless of your preferred vendor choice needs to be kept current.  These software applications often are the last to be upgraded in an organization.   These applications manage your shipping databases and cannot be upgraded to more than two revisions at time.  When an issue arises, only the latest most current version is available, and often because upgrades have not been done regularly requires UPS/FedEx interaction to get old versions of software. 

Regardless of your shipping software, it must be kept up to date to minimize shipping output disruptions.
Shipping software is often one of the most overlooked aspects of a company's IT infrastructure, but it's one of the most important. Upgrading to the latest shipping software can help businesses stay ahead of the curve and avoid shipping output delays.

Let's add these three points as you consider your IT environment:

• Not Outsourcing IT Functions or No Hybrid/Co-Managed solutions
  

Outsourcing IT functions can save businesses a lot of money in the long run. It’s important to partner with a reputable and experienced IT outsourcing company that can provide the services you need at a price you can afford.

• Not Having a Mobile Strategy

With more and more employees using mobile devices for work, it’s important for businesses to have a mobile strategy in place. This includes investing in mobile applications and devices that are secure and easy to use.

• No Long-term view

It’s important to have a long-term IT strategy in place that takes into account future growth and changes. This way, you can avoid having to make last-minute changes that are costly and disruptive.

• 1. Evaluate the company's IT needs and plan for future growth.
• 2. Research new technology trends and developments for maximum performance and security.
• 3. Train employees on how to use new technology tools and applications.
  

 
The Problem and The Solution

Perhaps you are frustrated with your current IT support strategy because the problems seldom seem to be fully resolved. Your support team seems to always recommend buying more hardware or software, and you can't keep up with business demands for IT compliance and the ever-changing technology landscape.
Now, with our Managed IT Services, you can finally rest easy (and sleep better!) in knowing that all of your IT issues are being handled by a team of trusted IT experts. We'll take care of everything for you so that you can focus on what's important - running your business and keeping your customers happy.

Let’s Find Your Optimal Solution for IT Vigilance and Performance

If you are ready to stop making costly mistakes with your IT infrastructure and let us manage it for you. Our Managed IT Services will protect your data, optimize your systems, and provide 24/7 support so that you can concentrate on what you do best.

We can help you in all areas of IT support, including:

• Data protection: back-up and recovery, on-site and cloud storage
• Performance: hardware deployment, hardware and software upgrades
• Cybersecurity, including firewall deployment, anti-malware and anti-virus solutions
• Server and workstation management
• Compliance management
  

Your best next step is to schedule a no-obligation phone appointment to discuss your IT priorities. Simply go to www.ctsservices.com/techreview or call us at 508-528-7720.

CTS Services, Inc. is a full-service IT support and managed services provider offering remote monitoring and management services, on-site support, and a complete hardware repair depot. Visit us at www.ctsservices.com

 Maintaining compliance with IT requirements is essential for any business, large or small. In order to ensure the safety and security of your data, as well as that of your customers, it is important to have a comprehensive understanding of the relevant compliance regulations and to implement the necessary safeguards. This article provides an overview of some of the key compliance requirements for businesses across many industries, including healthcare, manufacturing, retail, professional services and small business.

Too often businesses choose to ignore or take shortcuts when it comes to IT compliance, underestimating the risks and potential costs. In reality, failing to comply with IT requirements can result in serious financial and legal consequences, including fines, lawsuits and even criminal charges. The bottom line is that achieving and maintaining compliance is essential for any business, and it's not worth taking chances with your data or reputation.
Let's talk about your level of compliance, and your company's adherence to legally binding agreements made by your company representatives and the impact on IT systems and security.

Your organization's compliance posture is the result of decisions made about which laws, regulations, and contracts to comply with, and how well your company adheres to these requirements. To avoid penalties and legal action, you need to ensure that you are aware of all the compliance risks associated with your business operations and have put in place appropriate controls to mitigate these risks.

There are a number of benefits to achieving and maintaining compliance with IT requirements, including:

• Reduced risk of data breaches and other security incidents: By implementing the necessary security controls, you can help to protect your data from unauthorized access or theft. This is not only important for safeguarding your own company information, but also for meeting the compliance requirements of many industry regulations, such as the Payment Card Industry Data Security Standard (PCI DSS).
• Improved customer confidence and satisfaction: Customers are increasingly concerned about data privacy and security, and they are more likely to do business with companies that they perceive to be taking these issues seriously. Meeting compliance requirements can help to build customer confidence and loyalty.
• Enhanced business reputation: Compliance can also help to improve your company's reputation, both with customers and in the wider business community. This can lead to new business opportunities and improved financial performance.
• Greater operational efficiency: Achieving compliance often requires businesses to put in place processes and controls that can help to improve overall operational efficiency. For example, implementing an effective information security management system can help you to better protect your data while also streamlining many of your business processes.

While the benefits of compliance are clear, the process of achieving and maintaining compliance can be complex, challenging and time-consuming. It is important to work with experienced compliance professionals who can help you to understand the relevant requirements and put in place the necessary controls to establish and maintain your compliance.

What is IT compliance?

IT compliance refers to the set of policies and procedures that an organization must follow in order to ensure that its information technology (IT) systems are secure and compliant with all relevant laws and regulations.
Internal IT compliance, for example, focuses on establishing rules across a company's organizational structure to safeguard data. External corporate compliance regulations, on the other hand, focus on client satisfaction and the protection of customers' personal information. Compliance is maintained using digital technology to identify, monitor, audit, and report standards adherence. In order to meet regulatory compliance standards, your organization's policies and procedures must support these essential IT system goals:

1. Improve IT systems security: Maintain consistent security levels across individual industries.
2. Increase technical control and access: Implement strict credentialing systems to prevent employee mistakes and internal theft.
3. Maintain trustworthiness: Keep information safe for customers who entrust businesses with sensitive data, such as payment information.
4. Minimize losses and damages: Avoid costly data breaches that can result in millions of dollars of losses in sales, legal fees and data recovery costs.
   

Why is IT compliance important?

IT compliance is important for a number of reasons. First, it helps to ensure the security of an organization's IT systems. This is critical in today's world, as data breaches can lead to serious financial and reputational damage. Additionally, IT compliance can help to prevent legal problems, as failure to comply with relevant laws and regulations can result in significant fines and penalties. Finally, IT compliance can improve organizational efficiency by establishing clear rules and procedures for employees to follow.
When it comes to IT compliance, there are a number of different frameworks that organizations can choose to follow. The most common include the International Organization for Standardization's (ISO) 27001 standard, and the National Institute of Standards and Technology's (NIST) Cybersecurity Framework. It is important to note that compliance is not a one-time event; rather, it is a continuous process that should be revisited on a regular basis. This is because the IT landscape is constantly changing, and new compliance requirements are always being introduced.
There are a number of high-profile examples where businesses have suffered significant consequences as a result of ignoring their compliance requirements. One of the most well-known is the Target data breach, which occurred in 2013. In that case, hackers were able to gain access to the retailer's computer systems and steal credit card information belonging to millions of customers. As a result of the breach, Target was forced to pay out millions of dollars in damages to affected customers.
 
Another high-profile example of a business ignoring their IT compliance requirements is the Ashley Madison data breach. In that case, hackers were able to gain access to the website's user database and steal personal information belonging to millions of customers. As a result of the breach, Ashley Madison was forced to pay out millions of dollars in damages to affected customers.
Organizations that fail to comply with their IT compliance requirements can also face significant legal penalties. For example, in 2018, the European Union fined Google $5.1 billion for violating its antitrust laws. This was the largest fine ever imposed by the EU on a single company. Similarly, in 2017, credit reporting agency Equifax was fined $700 million by the U.S. Federal Trade Commission for failing to properly protect the personal information of millions of customers.

As these examples illustrate, IT compliance is a critical issue that all organizations must take seriously. Failing to comply with relevant laws and regulations can have serious consequences, including financial penalties, damage to reputation, and loss of customer trust.

What are some common IT compliance requirements?

There are a number of common IT compliance requirements that organizations must meet. These include requirements related to data security, data backup, and disaster recovery. Many jurisdictions have specific requirements for businesses that handle personal data, such as the European Union's General Data Protection Regulation (GDPR). Here are six of the top IT compliance areas that may pertain to your business:
1. Telephone Consumer Protection Act (TCPA): The Telephone Consumer Protection Act (TCPA) is a law that sets rules for how businesses can contact customers using telephone calls, text messages, and faxes.
2. Health Insurance Portability and Accountability Act (HIPAA): The Health Insurance Portability and Accountability Act (HIPAA) is a law that sets rules for how businesses can handle the personal information of patients.
3. Payment Card Industry Data Security Standard (PCI DSS): The Payment Card Industry Data Security Standard (PCI DSS) is a set of security requirements for businesses that process credit card payments.
4. Sarbanes-Oxley Act (SOX): The Sarbanes-Oxley Act (SOX) is a law that sets rules for how businesses must protect financial information.
5. Federal Information Security Management Act (FISMA): The Federal Information Security Management Act (FISMA) is a law that requires federal agencies to implement risk management practices to protect their information systems.
6. General Data Protection Regulation (GDPR): The General Data Protection Regulation (GDPR) is a new data protection law that applies to businesses operating in the European Union.

How to achieve IT compliance?

There is no one-size-fits-all answer to this question, as the best way to achieve IT compliance will vary depending on the specific requirements of your organization. However, there are a few general tips that can help you get started:

• Conduct a compliance risk assessment: The first step is to identify which compliance requirements apply to your organization, and to assess the risks associated with non-compliance.

• Implement proper controls: Once you have identified the risks, you will need to put in place appropriate controls to mitigate those risks. This may involve changes to your IT systems, as well as the development of policies and procedures.

• Test and monitor: It is important to regularly test your controls to ensure that they are effective. Additionally, you should monitor compliance on an ongoing basis to identify any areas of improvement.

 
There are a number of steps that organizations can take to ensure IT compliance. First, they should develop a comprehensive set of policies and procedures related to IT security and management. Additionally, they should put in place technical controls mentioned above, such as appropriate firewalls and intrusion detection systems, to help protect their systems from attack. Finally, they should provide regular training for employees on how to comply with the organization's IT policies and procedures, especially cybersecurity and compliance.

What are the challenges of achieving and maintaining IT compliance?

The challenges of achieving and maintaining IT compliance can be significant, as it can be difficult to ensure that all relevant controls are in place and functioning properly. Many organizations find it difficult to balance the need for compliance with the need for innovation and flexibility.

There are several challenges associated with achieving and maintaining IT compliance, including:
- The cost of compliance: Implementing compliant IT systems and processes can be costly for organizations.
- The complexity of compliance: There are a large number of laws, regulations, and industry standards that organizations must comply with. This can make it difficult for organizations to keep track of all the requirements.
- The changing landscape: The landscape of compliance is constantly changing as new laws and regulations are enacted. This can make it difficult for organizations to stay up-to-date on the latest requirements.

Thank you for reading this article! f you are looking for assistance with IT compliance, please contact us today. We are experts in helping businesses to meet a wide range of compliance requirements, including those relating to data security, privacy, HIPAA, PCI DSS and more.

Our team can provide you with the guidance and support you need to ensure that your business meets all its compliance obligations. We hope it has been helpful in providing an overview of the importance of achieving and maintaining IT compliance for your business. For more information about our compliance services, please contact us today at 508-528-7720. Thank you.
 

As a small business owner, you know that protecting your company's data is crucial. However, with limited resources, it can be difficult to know where to start. The good news is there are steps that every small business can take to reduce exposure and improve protection. Vigilance is, of course, always the first step. A commitment to best practices and a 24/7 approach is essential. After all, hackers never sleep.

Further, as data breaches and cyber-attacks make headlines with increasing frequency, it's no surprise that businesses are starting to invest more in cybersecurity insurance. However, what may be surprising is just how much rates have increased, and how difficult it is to find coverage. In this blog post, we'll look at some of the reasons why cybersecurity insurance is becoming more expensive and harder to acquire. But first, let's look at three primary reasons why cybersecurity insurance is becoming increasingly more difficult to purchase.

The Cost of Cybercrime is Rising!

One of the main reasons why cybersecurity insurance is becoming more expensive is because the costs associated with cybercrime are on the rise. Demand for insurance protection is also on the rise, according to the US Government Accounting Office 2021 report, which also cites lower coverage trends and greater difficulty in meeting the requirements for insurance policy compliance. Looking back over the past few years, a report from Juniper Research found that the cost of data breaches will reach $2.1 trillion by 2019, up from $600 billion in 2017. With numbers like these, it's no wonder that insurers are starting to rethink their policies.

Our motto: Adopt best practices and policies and deploy latest generation technology to minimize risk and maximize protection. Meeting and proving the insurance provider’s cybersecurity insurance requirements and compliance has its own challenges and vigilance. We can help you with both priorities.

More Regulatory Pressure to Improve Cybersecurity

Another factor that is driving up the cost of cybersecurity insurance is increased regulatory pressure on businesses to improve their cybersecurity practices. In particular, the General Data Protection Regulation (GDPR) in the European Union has put businesses on notice that they need to take steps to protect customer data or face major financial penalties. As a result, many businesses are starting to see cybersecurity insurance as a necessity rather than a luxury.
 
Less Capacity for Insurers to Cover Losses

One final reason why cybersecurity insurance rates are rising is that there is less capacity for insurers to cover losses. This is due to several factors, including an increase in the number and size of data breaches, as well as the fact that many existing policies have low limits and exclusions for certain types of losses. As a result, insurers are forced to either raise rates or withdraw from the market altogether. Cybersecurity insurance may be out of reach for your company, yet your IT strategy and policies can still provide maximum protection and minimize risk.
Here are seven key strategies that your small business can adopt to improve cybersecurity protection:

1. Educate your employees about cybersecurity threats and best practices.

Your employees are your first line of defense against cybersecurity attacks. By educating them about the latest threats and teaching them best practices, you can help reduce the risk of a successful attack. Consider implementing a monitoring program for end-user training and automated rapid response to breaches. Also, avoid opening unknown emails or clicking on links, and be aware of social engineering scams. Vigilance on social media, when accessed from a corporate device such as a remote worker system or company cell phone, will also minimize risk. Cyber-creeps, as we call them, are getting smarter and sneakier every day.

2. Keep your OS and application software up to date.

Old software can be a hacker's gateway to your system. Exploiting flaws in outdated software is one of the easiest ways for hackers to get access to your system. You may help close any potential holes in your defenses by keeping all of your programs up to date.

3. Use strong passwords and two-factor authentication.

Strong passwords are essential for keeping your accounts safe. In addition, using two-factor authentication can add an extra layer of security by requiring a second form of authentication, such as a code from a smartphone app, before allowing access to an account.

4. Encrypt all sensitive data.

Encrypting data helps protect it from being accessed by unauthorized individuals. This is especially important for sensitive data, such as customer credit card information or employee Social Security numbers.

5. Implement a comprehensive backup solution.

It's true now more than ever; in today's business world, data is everything. Companies like yours rely on data to make critical business decisions, track metrics and progress, and assess business and network performance. However, data assets can be very difficult to protect in today's IT world. Small businesses, in particular, may not have the resources or expertise to effectively secure their data. Cloud services can provide a cost-effective and convenient solution for small businesses wanting to protect their data. Cloud providers offer a variety of security features, including encryption, firewalls, and intrusion detection. In addition, cloud services are constantly evolving to stay ahead of the latest threats. By entrusting their data to a cloud service provider, small businesses can rest assured that their data is safe from harm.

In the event of a ransomware attack or other type of data loss, having a comprehensive backup solution in place can help you quickly recover lost data and get your business back up and running.

6. Invest in the best IT security tools and services.

You have many options and the choices can be dizzying. There are many different security tools and services available that can help small businesses improve their cybersecurity posture. Some examples include firewalls, intrusion detection systems, and malware protection software. By investing in these tools, small businesses can better protect their systems and data from attacks.
 
7. Work with a proven cybersecurity professional.

Working with a cybersecurity professional can be a valuable investment for small businesses. Cybersecurity professionals can help you identify potential vulnerabilities in your system and recommend steps to mitigate them. They can also provide guidance to help make the best possible decisions.
 
Bonus Strategy: Monitor activity on your network 24/7.
Monitoring your network for suspicious activity can help you identify potential threats early and take steps to mitigate them before they cause damage to your systems or data breach occurrences. In order to effectively monitor your network, you need to have a system in place that can quickly and accurately identify any malicious or unauthorized activity. Aside from performance monitoring for optimization, this system should include security monitoring and an ever-vigilant mindset by all employees and the leadership team:

- Protection of your systems from unauthorized access
- Intrusion detection software to detect any suspicious activity on your network
- A malware protection solution to protect your systems from malware attacks

By implementing these security measures, you can help protect your business from cybercrime and ensure the safety of your data.

Conclusion:

Businesses today are under more pressure than ever before to protect themselves against cyberattacks and data breaches. As a result, the cost of cybersecurity insurance is rising rapidly. While this may be a cause for concern for businesses, it's important to remember that investing in comprehensive coverage can help mitigate the financial impact of a successful attack. Don't let limited resources hold you back from protecting your small business from cybersecurity threats. There are many things you can do to improve your defenses without breaking the bank. By adopting these seven strategies, you can help improve your cybersecurity protection and create a more secure environment for your small business.

We are here for you, but this is a process that starts with you. Let's get your business protected.

CTS Services, Inc., is a full-service IT support company that specializes in cybersecurity protection for small businesses in all industries. Call us at 508-528-7720 or visit www.ctsservices.com to request a free 28-point network evaluation and technology review.

As cyber-attacks continue to proliferate, the costs of cybersecurity insurance are on the rise. Insurance providers are making changes that significantly impact the way businesses need to protect themselves. Insurers are increasingly requiring companies to adopt specific cybersecurity measures in order to qualify for coverage. This has led to a rise in the cost of cyber insurance, with premiums reaching as high as $100,000 per year for some businesses.
 
For small businesses, who are especially vulnerable, the rising cost of cybersecurity insurance can be daunting. However, it's important to remember that the cost of not having insurance is much higher. In the event of a cyber-attack, businesses without insurance can face steep financial losses. The increased cost of insurance is worth it for the peace of mind it provides. By taking measures to protect your business, you can make yourself eligible for coverage and help reduce the cost of premiums.
 
Here are some of the major factors and challenges companies face in both applying for cybersecurity insurance and in meeting the increased requirements of the insurance companies.
 
1. The increasing cost of cybersecurity response (or ransomware payment) insurance.
 
Cybersecurity response insurance is one of the most commonly purchased forms of cyber insurance. It covers the costs associated with responding to a cyber-attack, such as hiring a forensic team, notifying customers, and repairing damage to systems. In recent years, premiums for this type of coverage have increased significantly, often doubling or even tripling in cost.
 
2. The increasing number of data breaches.
 
Insurance providers are also raising premiums in response to the increasing number of data breaches. As more businesses are targeted by hackers, the risk of a data breach increases, and insurers must charge more to cover their potential losses.
 
3. The growing sophistication of cyber attacks.
 
The sophistication of cyber attacks is also increasing, making it more difficult for businesses to defend themselves against threats. This has led to an increase in the number of claims filed under cybersecurity insurance policies and has driven up premiums accordingly.
 
4. The expanding range of risks covered by cybersecurity insurance policies.
 
Cybersecurity insurance policies have also been expanding to cover a wider range of risks. In addition to covering costs associated with data breaches and cyber attacks, many policies now also provide coverage for ransomware payments, intellectual property theft, and business interruption caused by a cyber incident. This has led to higher premiums as insurers seek to spread their risk across a larger number of policies.
 
5. The difficulty in meeting insurer requirements for coverage.
 
Many businesses find it difficult to meet the requirements set by insurers for coverage under a cybersecurity policy. This can include having robust data security measures in place and demonstrating an understanding of potential threats and how to mitigate them. Businesses that cannot meet these requirements may be forced to go without insurance or pay higher premiums for less comprehensive coverage.
 
In addition, insurers are becoming more demanding in their requirements for coverage. They are no longer willing to simply provide coverage for damages that have been caused by a cyber-attack. They are now also requiring businesses to take steps to prevent such attacks from happening in the first place. This includes adopting specific cybersecurity measures such as installing firewalls and antivirus software, and training employees on how to protect themselves from cyber threats.
 
Businesses that want to obtain cyber insurance face several challenges in meeting these requirements. One is the cost of implementing these measures, which can be significant. In addition, many businesses lack the expertise needed to properly secure their networks from cyber threats. And even businesses that do have the necessary expertise may find it difficult to keep up with the constantly changing security landscape.
 
To overcome these challenges, businesses should take a holistic approach to cybersecurity. This includes not only implementing specific security measures, but also developing a corporate culture that is mindful of cybersecurity risks and taking steps to mitigate them. Businesses should also partner with qualified cybersecurity professionals who can help them assess their risk profile and design a security strategy that meets their needs.
 
1. Review your business's risk profile.
 
Before applying for cybersecurity insurance, businesses should assess their risk profile to determine how likely they are to be targeted by hackers. This includes evaluating their data security measures and understanding the types of threats they are most vulnerable to.
 
2. Implement robust data security measures.
 
Small businesses can protect themselves from cyber-attacks by implementing robust data security measures. This includes installing firewalls and antivirus software, encrypting data, and training employees on how to protect themselves from cyber threats.
 
3. Develop a corporate culture that is mindful of cybersecurity risks.
 
It's not enough to simply implement security measures; businesses must also develop a corporate culture that is mindful of the risks associated with cybersecurity and takes steps to mitigate them. This includes educating employees about common cyber threats and how to avoid them, establishing policies governing the use of technology, and regularly testing the security of their networks.
 
4. Partner with qualified cybersecurity professionals.
 
Businesses that lack the expertise needed to secure their networks from cyber threats should partner with qualified cybersecurity professionals. These experts can help businesses assess their risk profile and design a security strategy that meets their needs.
 
5. Stay up to date with the latest security threats.
 
The environment of cybersecurity is constantly changing, so businesses need to stay up to date with the latest threats and how to protect themselves against them. This includes subscribing to newsletters and blogs, attending industry events, and working with qualified cybersecurity professionals.
 
6. Regularly test the security of your networks.
 
Businesses should regularly test the security of their networks to ensure that they are protected against current threats. This can be done through penetration testing or vulnerability scanning tools.
 
7. Keep backups of your data in case of a breach.
 
In the event of a data breach, it's important to have backups of your data so you can continue operations without losing any information. Businesses should make sure that their backup plans are robust and include offsite storage in case of a ransomware attack."
 
By following these steps, businesses can not only meet the requirements of their cybersecurity insurance policy, but also improve their overall security posture and protect themselves from cyber-attacks.
 
The very first step in getting started with cybersecurity insurance is to review your business's risk profile. This includes assessing your data security measures and understanding the types of threats you are most vulnerable to. Once you have a better understanding of your risk profile, you can begin implementing robust data security measures to protect yourself from cyber-attacks. By following these steps, businesses can not only meet the requirements of their cybersecurity insurance policy, but also improve their overall security posture and protect themselves from cyber-attacks.
 
If you are a business looking for help securing your network from cyber threats, CTS Services, Inc. is the perfect partner. With many years of experience in the cybersecurity industry, we can help businesses of all sizes assess their risk profile and design a security strategy that meets their needs. Contact us today at 508-528-7720 or visit www.ctsservices.com to learn more!

 Managed Services provides peace of mind and positions a company to focus on what it does best; attention to the business at hand and serving clients. Protecting your company’s data (including your clients’ and your vendors’ data) is a full-time job in today’s world and it requires a cooperative effort of your team and of ours. Our job is to support your IT infrastructure so that all your company’s applications run smoothly, with minimal disruption, and with rapid recovery to any disaster that may strike.

Shared IT priorities are important in managed IT services because they help to minimize risk and maximize performance. By sharing IT priorities, companies can better identify potential risks and take steps to mitigate them. Additionally, shared IT priorities help to ensure that all members of the IT team are on the same page and working towards the same goals. This can help to avoid confusion and duplication of effort, and ultimately lead to more efficient and effective IT management.

Savvy IT professionals and business leaders strive to manage risks and leverage opportunities using technology more so that ever, and there are many strategies and steps for limiting vulnerabilities from both internal technology issues and from cybersecurity attacks. Much can be done to limit exposure, including:

Smart Cybersecurity Practices and Awareness Training

As the world becomes increasingly reliant on technology, cybersecurity becomes more and more important. Online criminals are constantly finding new ways to exploit vulnerabilities, and it can be difficult for even the most tech-savvy individuals to stay ahead of the curve. That's why businesses need to provide on-demand education and awareness training for their employees. By making sure that everyone understands the basics of cybersecurity, businesses can make themselves much less inviting targets for attacks. Furthermore, employees who are aware of the latest threats are more likely to spot suspicious activity and report it to the IT department. On-demand education and awareness training is essential for any business that wants to protect itself against cybersecurity threats.

Asset Protection: data backup and recovery

Asset protection is a top priority for any business, and data backup and recovery are essential components of a comprehensive asset protection strategy. By protecting corporate information, businesses can mitigate the risk of data loss and ensure that critical information is always available. Backup and restore policies should be designed to protect against all types of data loss, including hardware failure, software corruption, and user error. To maximize data protection, businesses should regularly test their backup and recovery procedures to ensure that they are effective. By taking these steps, businesses can safeguard their assets and ensure that they are always able to access the information they need.

End User Support, Monitoring and Access Control

In order to ensure remote and mobile users have secure access to corporate networks and IT resources, organizations must implement a comprehensive end user support strategy. This strategy should include a robust system of monitoring and access control. By tracking user activity and setting strict permissions, organizations can ensure that only authorized users are accessing sensitive data. In addition, by monitoring IT performance, organizations can identify and resolve issues before they cause major disruptions. By implementing these measures, organizations can provide remote and mobile users with secure access to corporate networks and IT resources.

Best In Class, Latest Generation WiFi Routers and Firewalls

The new generation of WiFi routers and firewalls are the best in class, providing wireless access and security that is unrivaled. With new technology, these devices can provide a higher level of protection against hackers and malware. In addition, they are able to properly configure firewall settings to ensure that your network is secure. As a result, you can rest assured that your data and devices are safe when you use the latest generation of Wi-Fi routers and firewalls.

Software Patch Monitoring and Management

In today's business environment, software patch monitoring and management is critical to ensuring the security of company data. With the ever-present risks of malware and ransomware, it is essential to keep software up-to-date with the latest security patches. Automated updates can help to take the burden off of IT staff and ensure that all systems are updated in a timely manner. However, it is important to monitor update activity to ensure that vital systems are not disrupted. By keeping on top of software updates, companies can minimize the risks associated with security vulnerabilities.

Endpoint monitoring and end user support

In today's digital world, endpoint monitoring and end user support are essential for any organization. Endpoint devices, such as laptops, smartphones, and tablets, are often the first point of contact for users when they access corporate networks. As a result, it is critical that these devices are properly monitored and managed. Endpoint detection and response (EDR) is a key component of endpoint security. It involves monitoring endpoint devices for signs of malicious activity and responding quickly to any incidents that are detected. An endpoint management platform can provide comprehensive visibility into all endpoint activity and helps to streamline the EDR process. By deploying an endpoint management platform, organizations can improve their overall security posture and better protect their end users.

Endpoint monitoring is the practice of monitoring the activity on a device that is connected to a network. This can be done in order to troubleshoot issues, assess performance, or keep track of compliance with policies. End user support is the provision of assistance to individuals who use an organization's products or services. This can include providing training, answering questions, or resolving problems. In many cases, endpoint monitoring and end user support are provided by the same team or individual. However, it is becoming increasingly common for organizations to outsource endpoint monitoring to specialist firms. This is often seen as a more cost-effective way to ensure that devices are properly monitored and maintained.

Server performance monitoring and remote support

Server performance monitoring is a critical task for any business that relies on a network of computers to function. By tracking server performance, businesses can identify and solve problems before they cause major disruptions. Additionally, remote support can be used to resolve issues quickly and efficiently. Remote support allows businesses to connect to servers remotely in order to troubleshoot and repair problems. When combined, these two tools can help businesses keep their servers running smoothly and avoid costly downtime.

IT Compliance requirements for your industry

Depending on the industry in which your company operates, there may be specific IT compliance requirements that must be met in order to do business. For example, companies in the healthcare industry are subject to HIPAA compliance regulations, which govern the way patient data is stored and transmitted. Financial companies are subject to Sarbanes-Oxley compliance regulations, which govern financial reporting. And companies that handle credit card transactions must comply with PCI-DSS standards. While meeting these compliance requirements can be a challenge, it's essential to ensuring the security of your data and protecting your company from legal liabilities. By working with a qualified IT consultant, you can ensure that your company is in compliance with all applicable regulations.

Latest hardware in place, including servers, storage, and end user devices
In today's business environment, having the latest hardware is essential for success. With servers, storage, and end user devices that are constantly being updated, it's important to have a plan in place to keep your business up-to-date. By staying on top of the latest hardware trends, you can ensure that your business is using the best possible equipment. This not only helps to improve efficiency and productivity, but it also helps to reduce costs. In addition, by keeping your hardware up-to-date, you can help to ensure that your business is always able to take advantage of new technologies as they become available.

Remote and mobile user device security, access control and monitoring

The remote and mobile user device security landscape has shifted dramatically in recent years, as remote and hybrid work environments have become the norm. This new reality has created significant security challenges for organizations of all sizes, as they strive to protect their assets and data from a variety of threats.

As more and more businesses move to remote and hybrid work models, the need for effective remote and mobile user device security has never been greater. Security challenges posed by remote and mobile workers include protecting assets from unauthorized access and ensuring that data is properly encrypted during transmission. To meet these challenges, organizations must implement effective remote and mobile user device security policies and procedures. These policies should include provisions for authentication, authorization, data encryption, device management, and activity monitoring. By taking these steps, organizations can protect their assets and ensure that their data is properly secured.

Call to Action - Partnering for IT Support and Security

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Trust and confidence are the cornerstones of any successful business relationship. IT support and security are critical for any business. Trust and confidence are essential in any partnership, and that's especially true when it comes to IT. We're here to help you ensure business continuity and plan for future growth. We'll work with you to identify your specific needs and develop a customized solution that meets your unique requirements. Contact us today at 508-528-7720 to learn more about how we can help you protect your business.