On this day, October 7th in 1849, American author Edgar Allan Poe died in Baltimore, MD at the far-too-young age of 40. Poe was famous for his gothic short stories, making his death in the same month as Halloween almost poetic. In one of his short stories, “The Pit and the Pendulum” the main character finds himself held captive, tied to a board in the middle of a large room. Above him, a large, razor-sharp pendulum is swinging back and forth while descending from the ceiling. The unnamed character, seeing his imminent death ahead of him TAKES ACTION, by spreading some raw meat he’d been left in the cell over his leather straps. The rats in the dungeon swarm to the smell and chew through the straps, freeing the main character just before he is sliced in two.
October, along with Poe’s death and Halloween, is the calendar home of cyber security month. Since the onset of COVID-19, cyber-crime has skyrocketed across the globe. A few stats to illustrate the severity of the situation:
· In 2020 55% of all cyber-attacks targeted small
· The average extortion demand has risen to $180,000 on average
· Businesses experience an average of 16 days of interruption when breached
· In 2021 an American business is hacked every 11 seconds, on average
· The estimated worldwide cost of ransomware this year will be approximately $20 BILLION
For small business owners, the impending threat of a cyber attack must feel a lot like the descending pendulum from the Poe story. As a small business with a limited budget for IT services, the question almost becomes not “if” the slice is coming….but “when.”
At Block Insurance our goal is to help local business owners TAKE ACTION to prevent the cataclysmic event of a major breach and the financial struggle that ensues. With a customized cyber-liability plan, we can help you avoid the financial stress of lost business income, reputational harm, notification costs, regulatory fines, and system restoration.
As this threat closes in, call our local cyber guru, Andy Runyan at (870) 219-1339 if you have any questions or needs in regards to the ever-changing cyber landscape.