The Internet is part of the lives of countless people around the globe and has fundamentally changed how we work, communicate, entertain, and share information. In its early days it was a new form of communication particularly suited to the needs of universities, the military, research organizations and was not widely utilized by the private sector. As a society we moved quickly from curiosity about a new technology to overwhelming acceptance and use. In the process we have voluntarily surrendered our personal information and privacy, without which much of the functionality of this technology would not be able to be utilized. It is quite remarkable what we have given up for convenience, and how much trust we have placed in this technology. This convenience does not come without risk and cost to all involved.
It is only very recently that the value of all this information has been identified and targeted by the criminal element of our society. With all the positive benefits of this remarkable technology, it is accompanied by what many now consider to be one of the greatest threats to our security and prosperity that has ever existed. While it is unrealistic to believe that we will abandon this technology for safety reasons, it is clear that we need to pay careful attention to the cyber security threats that face every business, organization, and individual utilizing it.
Fortunately much attention is now being paid to the subject of cyber security as it rises to top of mind status. There is good security technology that when properly utilized goes a long way toward securing the information we so highly value. Firewalls, anti-intrusion software, intrusion detection systems all play an important role. The insurance industry has also responded to provide insurance coverage for many of the risks associated with protecting our digital assets. In future blogs I will be discussing the importance of cyber insurance and how it benefits organizations in protecting their well-being.
Learn more about cyber liability insurance in a podcast at the National Cybersecurity Institute.