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Faced with increased demand, major European and U.S. insurers have been able to charge higher premium rates to cover ransoms, the repair of hacked networks, business interruption losses, and even PR fees to mend reputational damage. But the rise in ransomware attacks and growing sophistication of attackers have made insurers wary, with fears that some attackers could be checking if potential victims have policies, that would make them more likely to pay out.
As losses mount, insurers are changing their limits, coverage and pricing of cyber insurance, with some Insurance companies turning their back on cyber insurance altogether due to heavy losses.
Insurance premiums have almost doubled in the United States and jumped by 73% in Britain, because of the frequency and severity of ransomware attacks and we expect that Australian Insurance companies are likely to follow suit.
A new European Union report claims that the COVID-19 pandemic and rise of home working has helped cyber-criminals to flourish. As Europe’s most profitable crime, ransomware demands $300 million in ransom per year according to the US State Department. While in Australia during the 2020â21 financial year, the Australian Cyber Security Center reported receiving over 67,500 cybercrime reports. An increase of nearly 13 per cent from the previous financial year and the equivalent of one report of a cyber-attack every 8 minutes.
Cyber-attacks are being seen across all industries. No sector of the Australian economy was immune from the impacts of cybercrime and other malicious cyber activity. Losses incurred by firms hit by ransomware up to now have been manageable, but the recent deployment of “catastrophic” malware is changing that dynamic.
In August last year more than 200 U.S. hospitals and clinics were paralyzed by an attack on their systems by a hacker exploiting software that let him spread crippling ransomware, demanding ransom to recover the lost data before acceding.
Insurers are becoming less willing to provide large amounts of cover. However, they argue that failing to pay ransoms will backfire, crippling businesses whose systems have been disabled.
Itâs now more important than ever to ensure that you have sufficient Cyber Security protection in place.
Our IT security audit assesses your businessâ overall IT infrastructure and environment for physical and software threats that can compromise your businessâ IT security. We highly recommend a quarterly Security Audit to protect your businesses data and IT systems.
Speak to our team of highly trained Security Experts today.
The importance and necessity of an IT security audit cannot be understated. As more and more businesses use online facilities and platforms to conduct their operations, more and more of the business itself is at risk. CRT Network Solutions’ IT security audit assesses your business’ overall IT infrastructure and environment for physical and software threats that can compromise your business’ IT security.
We recommend a quarterly IT security audit to our clients for the following reasons:
It identifies problem and risk areas
Your IT infrastructure comprises a vast network of hardware, software and users and it can be difficult for you to manage these systems in-house. Expert outsourced IT services can identify areas that may pose a problem or put your business at risk. In an on-site IT security audit, CRT will check network vulnerability, operating systems, remote access and permissions, spam filters, antivirus programmes and firewalls.
It establishes whether your existing security facilities are adequate
The level of IT security your business has should match the technologies that your business uses. An IT security audit can help identify whether the existing security facilities you have in place are sufficient to protect your business from outside cyber threats.
It provides an in-depth analysis of your IT systems
Our IT security audit report contains a detailed breakdown of our findings while analysing your IT systems. It will highlight problem areas and provide solutions to those problems, clarify whether your system is in compliance with industry standards, and check your security policies and programmes.
It reduces the risk of IT-related theft or damage
The primary goal of an IT security audit is to protect your data and IT systems. An IT security audit can thus easily identify a possible threat or problem before one has been established, ensuring your business’ integrity, confidentiality and security.
We are a reputable IT support company offering friendly, competitive IT support and IT services. We are familiar with a wide range of softwares, including those for accounting and legal firms, medical IT and general business. We are also experts in Microsoft server support, network support and supporting workstations.Â
We have several years of experience in providing IT security audit services and support and aim to help you move your business forward while protecting the infrastructure it needs to survive. We offer a range of IT services, which are guaranteed to help solve your IT support and related services problems. Get peace of mind by letting us manage your entire IT infrastructure â we even offer cloud hosting services! We take responsibility and are highly accountable for your IT network and IT support services. We can manage servers, desktops, software, networks and IT security for small to medium-sized businesses.Â
As a professional cyber security services provider, we understand the value of your businessâ technology infrastructure. Therefore, we bring our services right to your doorstep. We make sure that we are able to help and assist you and your business, and our team of specialists is ready to support your business, no matter the situation. Our equipped, excellent staff complement make it possible for us to offer clients the best remote IT support services. From the word âgoâ, our team is focused, committed and trustworthy. They value the clientâs business as much as we do. Therefore, they will do whatever it takes to provide them with the best services. With us, you are guaranteed secure and reliable IT security audit services!Â
Easily reduce the cost of running your business by outsourcing your business IT support requirements. An expert IT support company, such as CRT, will help you save money. You wonât have to worry about telephone and VOIP services bills, maintaining support systems, or hiring and training in-house support teams. Outsourcing your IT support will save your business money, cut costs and eliminate the need to hire in-house.
You donât have to worry about the disaster of a network hack, which leads to data breaches and a bad business reputation, when you have expert IT support like CRTâs. Our professional, experienced support teams will ensure your business has adequate IT security measures in place to quickly identify and contain potential security threats, as well as provide up-to-date backups. You can count on CRT!
We provide a turnkey solution for our clients. We provide hardware and software for servers, workstations, printers, networking equipment and office supplies. If you are looking for someone to handle any job from start to finish, we can help! Being based on locally allows us to quickly get PCs and servers installed at your business, and ensure fast response to IT support requests.
We quickly respond to business IT support requests. We are based locally, allowing us to address any IT or technical issues our customers may face. Our staff always endeavour to be punctual. If we do run late, we will call ahead and let you know. Our Helpdesk is manned by qualified technicians that can quickly fix any IT related support issues you may be experiencing.
Hiring our IT company provides you with 24/7 monitoring for all your IT equipment. You donât have to worry about IT problems such as website downtime and network security hacks because our IT team is available to handle all issues immediately as they occur, and in some cases, even before they occur! You can also get help in understanding any new software or technology your business needs.
With us, you are sure to get the latest IT technology and development that will enhance your businessâs efficiency and IT security. Our IT technicians and support staff are proactive in identifying areas of improvement for your business. The IT team you are hiring will ensure that your business is up-to-date on the latest IT trends, enabling you to be several steps ahead of your competitors.
Here’s what our wonderful customers from across the Sunshine Coast had to say about their experiences with CRT Network Solutions.
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