1. What are the costs and benefits of developing cybersecurity programs in business?
When looking at the benefits of cybersecurity it’s pretty obvious that it’s needed in a business. But sometimes people who own the business or that’s part of the business forget to look at the cost of cybersecurity. Now when determining the cost of cybersecurity it’s mostly up to the company. The reason for that is, it can vary depending on what kind of business they have. Also depends on what the company’s vulnerabilities are. According to module 8, most of the cost is determined by Risk management processes, Size of company, Type of company, Employee access to data, and the Types of virus protection software.
Having said that, many companies have started advertising cybersecurity insurance. How most companies are doing this is by monthly and yearly subscriptions. This means a business or even individuals will pay a monthly or yearly due and they will provide you cybersecurity help. It’s basically like having cybersecurity insurance in many ways. Some people might just call it cyber insurance. An example of this is Cyber Revolution Inc. According to Law Technology Today, “Starting at only $175/month, based on the size of your law firm, Cyber Revolution, Inc. is finally bringing the solution long waited by law firms for the last decade with our Serenity Plan, which includes a cyber security brief, risk assessment audit, two hours of training and risk assessment per month, our certification label and 24/7 emergency support” (Law Technology Today). Many other companies have started doing this. It’s a great way of IT, Cybersecurity, and Insurance firms coming together to provide some security for business and company.
When determining if you should get cybersecurity as a business it’s definitely important to do so. I believe every business needs some kind of cybersecurity insurance to keep their data, money, and systems safe from cyber threats and breaches. So when starting a business it’s something any owner needs to look into. If a business doesn’t have any cybersecurity it’s likely that the business will face lots of cyber attacks in this day and time.
Work CitedLaw Technology Today. “Home.” YouTube, 14 January 2016, https://www.lawtechnologytoday.org/2016/01/small-medium-firm-cyber-security/. Accessed 29 March 2023.