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Category: Cyber Risk
The latest insurance articles, insight, and news from Ollis/Akers/Arney Insurance & Business Advisors.
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Artificial Intelligence and the IncreasingThreat of Phishing to Businesses
July 5, 2025
Phishing attacks, in which cybercriminals manipulate users into disclosing sensitive information or installing malware through fraudulent communications, have been a persistent cybersecurity threat, often resulting in significant financial and reputational damage. Recently, cybercriminals have begun leveraging artificial intelligence (AI) to power these attacks, making them more convincing and difficult to detect. As this evolving risk…
Read More5 Common Cybersecurity Mistakes and How to Avoid Them
May 24, 2025
All organizations, regardless of their size or industry, are at risk of being targeted by cybercriminals. These malicious actors can conduct cyberattacks, leading to significant financial, operational and reputational damage that can be difficult or impossible to recover from. Fortunately, solid cyber hygiene practices can reduce the likelihood of data breaches and other cyber incidents…
Read MoreNavigating Cybersecurity Challenges in the Education Sector
April 27, 2025
Educational institutions, including K-12 schools and universities, are frequent targets of cybercriminals. These organizations often possess vast stores of sensitive data, operate with limited cybersecurity resources and rely on outdated infrastructure. As a result, cyberattacks in this sector have led to significant financial, operational and reputational damage. Given these risks, leaders at these institutions should…
Read MoreSCAM OF THE WEEK: The Fake TSA Precheck Email
November 9, 2024
Many air travelers turn to TSA PreCheck for its quickness and ease. TSA PreCheck is a US airport screening program that allows you to get through airport security with fewer steps and without waiting in long lines. But cybercriminals take advantage of this tool to trick travelers. In this scam, you receive an email that…
Read MoreContingent Business Interruption Insurance for Cyber Events
September 8, 2024
In today’s evolving risk landscape, organizations of all sizes and sectors face a wide range of cyberthreats. Amid advancing attack techniques and growing hacker sophistication, cyber events can arise from various avenues and cause considerable damage, often resulting in prolonged operational disruptions and associated losses. With this in mind, it’s crucial for organizations to secure…
Read MoreCyber Liability: Cybersecurity Awareness Programs: Benefits and Implementation
May 12, 2024
Businesses of all sizes are susceptible to cyberattacks such as phishing scams, malware attacks and ransomware schemes, which can create significant financial loss and lead to major reputational damage. Therefore, businesses need to take measures to mitigate cyber risk. Implementing a comprehensive cybersecurity awareness program is one of the most important strategies for recognizing and…
Read More5 Common Cybersecurity Myths Debunked
March 24, 2024
Cybersecurity consists of strategies implemented to help protect organizations from cyberattacks and related losses. Such defense has become increasingly important as businesses of all sizes and sectors expand their reliance on technology and other digital services. Yet, there are several misconceptions about cybersecurity that diminish the value of effective mitigation strategies and may leave organizations…
Read MoreCyber Liability – Managed Detection and Response Explained
February 24, 2024
The cyber risk landscape is in a state of constant evolution, with cybercriminals quick to exploit emerging technologies for malicious purposes. In response, businesses are exploring innovative methods to detect and prevent these attacks. One such option is a managed detection and response (MDR) service, which combines technology and human expertise to monitor and address…
Read MoreCyber Update – Deepfake Scammers Con Company Out of Over $25 Million
February 10, 2024
At a briefing on Friday, Feb. 2, 2024, Hong Kong police revealed that a recent cyber incident involving deepfake technology resulted in a finance professional at a multinational firm being manipulated into wiring more than $25 million in company funds to fraudsters. This event showcased the widespread damage that can be caused by deepfakes, which…
Read MoreJuice Jacking Explained
January 4, 2024
Charging a battery through a free public USB charging station may seem innocuous, but doing so could result in costly cybersecurity issues. Through a tactic known as juice jacking, a malicious actor can gain access to an individual’s device when they connect to these ports. Since these charging stations are common in public places like…
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