Small business cybersecurity and insurance can leave many business owners scratching their heads, wondering what to do. In this episode of the Cyber Insurance News podcast, our Executive Editor, Martin Hinton, speaks with Jason Makevich, founder and CEO of Greenlight Cyber, about the critical intersection of small business, cybersecurity, and insurance. They discuss the significant vulnerability of small businesses to cyber threats, the misconceptions surrounding IT and cybersecurity, and the importance of understanding various cyber risks, particularly ransomware and phishing. The conversation emphasizes the need for a cultural shift within organizations to prioritize cybersecurity, the role of cyber insurance in enhancing business resilience, and the importance of choosing the right cybersecurity partners. They also touch on the need for national cybersecurity standards and the potential for tax incentives to encourage small businesses to invest in their cyber defenses.
00:00 Introduction to Cyber Insurance and Small Business Vulnerability
03:11 Understanding Cybersecurity as a Business Risk
06:02 The Mindset of Small Business Owners
09:07 Types of Cyber Threats Facing Small Businesses
12:02 The Low Barrier of Entry for Cyber Criminals
15:09 Cultural Shifts in Cybersecurity Awareness
17:46 Investing in Cyber Resiliency
21:12 The Role of Cyber Insurance
24:11 Due Diligence in Cybersecurity Partnerships
26:54 The Need for National Cybersecurity Standards
29:57 The Scale Cost and Toll of Cyber Crime
33:13 Last Thoughts
