Mary & Jill Bunch: Ransomware Prevention and Protection

In this episode of Commitment Matters, Mary speaks with Jill Bunch, Owner & President of Columbia Title. Jill can be reached at [email protected].

During their conversation, Jill or Mary mentioned:

Columbia Title is based out of Indiana and has been around for 35 years.Jill mentioned moving her company’s data onto a hosted solution. We highlight many questions and answers about cloud solutions here. ALTA’s best practices (#3) mention data protection and using cloud technology. What is a ransomware attack? Here’s a basic explanation. Jill details the moment she realized her company’s involvement in the attack based on computer and software changes. Transitioning documents from files to the cloud can be very beneficial, but make sure you’ve done your research on cloud hosts and document management providers. Cloud storage vs. hard copy paper files.Between 50 and 75 percent of ransomware victims are small businesses.Jill breaks down the steps she took to prevent any further damage or loss. This guide also includes best practices and effective responses to ransomware.Jill says during an attack it’s critical to communicate with employees and clients about what’s happening. She also suggests reaching out to partners or other groups you might already share data with if you need immediate access. Statistics show that 57 percent of businesses are successful in retrieving their data after an attack. 32 percent of ransomware victims pay the ransom, but only get 65 percent of data back. Here’s a resource for business bank account protection against cybercriminals. Positive pay is a feature that can help—and it’s a topic we’ve covered in depth before.Jill advises to make sure you have third party and cyber security coverage and be sure it covers ransomware attacks. Plus, make sure you know the difference between broad, restricted and third-party coverages to get the right protection policy. This article tells you what to look for in cyber insurance coverage.Columbia Title used outside legal counsel to guide them through the process. Read an attorney’s perspective on cyberattacks. Check out these resources and coping mechanisms that your employees and coworkers can utilize during this stressful time.Columbia Title still hasn’t recovered all of their data. Some companies can recover their data in days, but for others, it can take weeks. Ransomware attacks can still happen despite taking all safety measures.

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