5 cybersecurity trends 2023
doug • December 9, 2022
Are you Safe?
Are you Safe?
5 Cybersecurity Trends 2023
Critical information that will help safeguard your business from cybersecurity attacks in 2023.
The unfortunate reality is that cybercrimes cost businesses and organizations billions in annual losses. Additionally, as companies choose to remain remote or hybrid post-pandemic, they’ve become more at risk of attacks from hackers.
While it’s still too early to know exactly what the next year will hold, here are 5 cybersecurity trends 2023:
1. Smarter phishing . The first quarter of 2022 saw a significant increase in phishing, and while phishing emails have been around for years, they’re now geo-targeted and more personalized. Phishing through social media and other messaging platforms is also a growing cybersecurity trend.
2. Increased attacks on healthcare, higher education, and the financial services sectors. During the pandemic, healthcare organizations relaxed their firewall rules to make it easier for staff to work from home; the same happened in higher ed as colleges and universities pivoted to remote learning models. At the same time, digital transactions skyrocketed , sending attacks on financial institutions soaring 238%. That said, moving into 2023, there’s hardly a sector unaffected by the direct or residual effects of increased cyber attacks during COVID-19.
3. Fortified cloud security . Predictive security measures can identify cyber threats before they begin. That said, businesses are implementing predictive security clouds, with the market gaining a 261% ROI over three years. Others are leveraging multi-factor authentication to reinforce security—especially in the technology , software, education, and business sectors.
4. Mobile devices are prime targets for attacks . Global smartphone ownership increased from 49% in 2016 to 83% in 2022. Unsurprisingly, mobile devices are a top target for cybercriminals. In fact, 70% of fraudulent transactions began on a mobile device. Common mobile attacks included malware, data tampering, and data loss.
5. New legislative and regulatory measures . In 2022, at least 40 states and Puerto Rico introduced 250 bills or resolutions dealing with cybersecurity. Moving into 2023, business leaders and organizations must monitor legislation impacting their operations.
Although these 5 cybersecurity trends 2023 are alarming, you can take steps to safeguard your business now and into next year. Two of the best things you can do is train your team on the latest tactics to identify threats early and reassess your cybersecurity insurance policy to ensure it’s up to date and accurate given today’s risks.
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Alright, folks, settle in for a crash course (pun intended!) on the fascinating, slightly bewildering world of car insurance. Yes, I know, it's about as thrilling as watching paint dry, but trust me, understanding how it works can save you from a world of headaches and wallet-emptying woes. Here at Select Source Insurance, we're here to break it down, with a dash of humor to keep you from falling asleep. Car Insurance: It's Not Just a Piece of Paper (Though It Feels Like It Sometimes) Imagine car insurance as a safety net for your four-wheeled friend. When things go sideways (literally or figuratively), it's there to catch you, or at least cushion the financial blow. But how does this magical safety net actually work? The Basics, Explained (With Minimal Jargon): You Pay, They (Hopefully) Pay: You pay a premium (think of it as a monthly subscription to "avoid financial ruin"), and in exchange, your insurance company agrees to cover certain losses if you have an accident, your car gets stolen, or a rogue squirrel decides to use your windshield as a trampoline. Coverage: It's Like a Menu, But Less Delicious: Car insurance policies come with different types of coverage, each designed to protect you in specific situations. Liability Coverage: This is the "oops, I hit someone else" coverage. It pays for their injuries and property damage (up to your policy limits) if you're at fault in an accident. It's like saying, "Sorry about that, let my insurance handle it." Collision Coverage: This covers damage to your own car if you hit something (another car, a tree, a particularly stubborn mailbox). It's like a band-aid for your car's boo-boos. Comprehensive Coverage: This covers damage to your car from things other than collisions, like theft, vandalism, hail, or a herd of stampeding llamas. It's helps with damage other than collisions with limitations. Uninsured/Underinsured Motorist Coverage: This protects you if you're hit by someone who doesn't have insurance or doesn't have enough. It's like having a backup plan for the backup plan. Deductibles: Your Share of the Pie (or Wrecked Bumper): A deductible is the amount you pay out of pocket before your insurance kicks in. It's like a co-pay at the doctor's office, but for your car. The higher your deductible, the lower your premium, but make sure you can actually afford it if you need to file a claim. Claims: The "Please Don't Make Me Cry" Part: When you have an accident, you file a claim with your insurance company. They investigate, assess the damage, and (hopefully) pay for the repairs or replacement. It's like a detective story, but with less dramatic music and more paperwork. Why It's Important to Have a Good Insurance Agent (Like Us!): We Speak Insurance-ese: We can translate the confusing jargon into plain English, so you actually understand what you're paying for. We Shop Around for You: As an independent agency, we work with multiple carriers, so we can find you the best rates and coverage for your needs. We're like your personal insurance shoppers. We're Here When You Need Us: When you have a claim, we'll be there to guide you through the process and make sure you get the help you need. We're like your insurance therapists, but with better advice. We can help you avoid the "I tried to parallel park my boat" situation: Yes, that was a real claim. The Moral of the Story: Car insurance is a necessary evil, but it doesn't have to be a confusing one. At Select Source Insurance in Spartanburg, we're here to make it as painless as possible. So, if you have any questions, don't hesitate to give us a call. We're always happy to help, and we promise to keep the insurance jokes to a minimum (mostly). 864-585-8318 or get a quote at Auto Insurance Quote