85% of small business owners believe their company is safe from hackers, malware, or a data breach. But the numbers and statistics say a major incident is likely to occur. 46% of all cyber breaches affected businesses with fewer than 1,000 employees. A strong cybersecurity strategy can’t be achieved with just tools or insurance. So, in this blog, we’ll go into why you can’t rely solely on tools or insurance for cybersecurity risk management, and why managed IT is a must.
Cybersecurity Strategy Blind Spots
Executives may think that just because they have a tool that makes them compliant means they’re prepared. But to get the benefits, you need to properly implement and manage those tools on an ongoing basis, maybe with the help of a managed IT provider.
Tools without a strategy are like an alarm system without monitoring, and just because you’re compliant, it doesn’t mean you’re protected. Tools with no plan create a false sense of security, and passing an audit won’t prevent a ransomware attack.
If your company operates from the top down, that means it’s your responsibility to set the security tone. When the leadership treats cybersecurity as a checkbox exercise, so will the organization. That’s exactly the kind of weakness hackers exploit.
Photo by CIO Insight
Cyber Insurance Limitations CEOs Overlook
Executives can lean heavily on a cyber insurance plan as a fallback. But the truth is that insurance is not foolproof. Here’s why:
- Strict Requirements: Requirements most cyber insurances may need you to have are strong access controls, incident response plans, employee training, MFA, encryption, and privileged access management. These are all encouraged to have, but costly to implement without in-house IT or managed IT help.
- Exclusions: Common exclusions you may see for cyber insurance are nation-state attackers, social engineering attacks, and physical damage to hardware.
- Reputation Isn’t Covered: Even if an incident occurs and your insurer pays out, your reputation may be shattered. No one will trust a company that was the cause of their sensitive data being exposed.
Insurance can be a part of your cybersecurity risk management plan, but it shouldn’t be a substitute for a strong cybersecurity strategy.
The Case for Managed IT in Cybersecurity Risk Management
Just because you may have a tool to check a box, doesn’t mean there is ongoing support. Cybersecurity risk management requires more than compliance checklists and insurance policies. It demands a proactive, well-executed cybersecurity strategy.
A managed IT provider is there to help businesses have a strong cybersecurity and IT infrastructure. They use their knowledge and expertise to make the tools you have work for you. 24/7 monitoring, endpoint detection and response (EDR), and network filters are all tools you want your managed IT provider to be using.
It’s not only for the large corporations, as small and mid-sized businesses can receive enterprise-grade level protection without the large upfront costs of an in-house team. Making it one of the most effective ways to strengthen defenses.
Finding a Cybersecurity Strategy That Works
Hope, unused tools, and insurance policies are not proactive cybersecurity strategies. Real protection requires an active approach that combines people, processes, and technology working together. A strong cybersecurity strategy builds resilience, minimizes risk, and ensures your business can withstand evolving threats.
At Kirkham IronTech, we help organizations move past checkbox security strategies. Our managed IT and cybersecurity services offer enterprise-grade protection tailored for businesses of any size, at a predictable monthly cost.
The bottom line is that tools to check a box and relying on hope only delay the inevitable. It’s not a matter of if but when your business will be attacked by cybercriminals. If you’re not sure where to start, take advantage of our free cybersecurity and IT infrastructure risk assessment. We’ll identify areas where your security is lacking without any fluff, just the facts.
Tom Kirkham brings more than three decades of software design, network administration, and cybersecurity knowledge to organizations around the country. During his career, Tom has received multiple software design awards and founded other acclaimed technology businesses.
