Cyber Liability Insurance (CLI) covers the financial loss that results from cyber events such as data breaches. However, cyber liability is not typically included within general liability insurance and must be purchased separately. Also, each company offering a policy likely has different coverage options available and exclusions included, so be sure to read the fine print.
The NextGen 101 list, honors industry-leading managed services and technology providers who are driving a new wave of growth and innovation for the tech channel via the groundbreaking solutions they deliver for their customers. The Channel Futures NextGen 101 are those companies that hold great promise given the leading-edge information technology and communication solutions they offer. Many of those business models revolve around generating recurring revenue from cloud, security and unified communications, among others.
A compliance program aims at protecting an organization from risk. The purpose of corporate compliance programs is to ensure that a business complies with laws or regulations relevant to it. You could consider a Compliance Program to be sort of ‘an internal insurance policy’ to create evidence of conformity with regulations and instill a culture of compliance. Remember that establishing a foundation of compliance is a company’s best protection to minimize risk and increase business efficiencies.
The COVID-19 pandemic impacted individuals and businesses all over the world in so many ways. Practically overnight, it changed the way people went about their daily routines and how companies operated. Amidst all the chaos, changes to the cyber landscape increased at an extraordinary rate.
When you run a business, compliance and security are two important factors. Both are equally essential for the seamless operation of your business. While compliance helps your organization stay within the limits of your industry or government regulations, security protects the integrity of your business and its sensitive data. It is worth noting that although security is a prime component of compliance, compliance does not necessarily equal security. This is because compliance does not consider the growing threat landscape and risks associated with it. What it considers, instead, is a set of pre-defined policies, procedures, and controls.
Tools are only as good as their operators. This should be your standing philosophy as the world constantly shifts and evolves to a more hybrid-like work model to help deal with the complexities faced after the COVID-19 pandemic. So, although finally figuring out what tools and processes are essential to the security of your business is great, unless your employees are fully-in on participating with these processes, you’re in for a tough journey.