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Remembering the Obvious: In Cybersecurity and Insurance, People Matter Most – Opinion

Posted on November 3, 2024November 25, 2024 By Martin Hinton

We often forget what we should remember. The sun rises, the tides ebb and flow, and people make mistakes. “To err is human,” they say. In our rush to embrace new technologies, we overlook a simple truth: people are the heart of any endeavor. This is most evident in cybersecurity and insurance.

A recent report by Arctic Wolf lays it bare. Despite all the firewalls and encryption, human error remains the greatest threat in cybersecurity and insurance. The report shows that human mistakes account for up to 95% of security failures. That’s a staggering number, but it shouldn’t surprise us.

We build machines to protect us, but we cannot escape ourselves. The old sailors knew this: “A chain is only as strong as its weakest link.” In our digital world, that weak link is often a tired employee reusing a password or clicking on a rogue link.

The Arctic Wolf study reveals a dangerous gap between confidence and reality. Eighty percent of IT leaders believe they can fend off phishing attacks, yet sixty-four percent have fallen for them. They trust their systems but forget the fallibility of the people who use them.

Passwords are reused, multi-factor authentication is ignored, and security features are disabled. These aren’t technical failures in cybersecurity and insurance; they’re human ones. We must face this truth if we hope to build stronger defenses.

Communication falters too. Policies are written but not shared. Employees fear reporting mistakes, worried they’ll lose their jobs. This fear breeds silence, and silence is fertile ground for unseen threats.

We need to remember old wisdom and embrace new philosophies that put people first. Training in cybersecurity and insurance must be continuous and engaging, not a yearly checkbox. We must foster a culture where mistakes are lessons, not punishments.

“An ounce of prevention is worth a pound of cure.” By investing in our people—making them partners in security rather than liabilities—we can turn the tide. Technology will advance, but without the steady hand of well-trained and confident people, it won’t be enough.

In the end, we must remember the obvious. People are essential. They are our greatest asset and, if neglected, our greatest risk. Let us build methods that make us better at security by making us better at being human.

Martin Hinton

Martin Hinton is the Executive Editor and Publisher of Cyber Insurance News and Information. With over three decades of journalism experience across six continents, his work encompasses investigative reporting, documentaries, and coverage of cultural, political, and business news. To learn more about his career, click on his name to visit his LinkedIn page.

Opinion/Commentary Tags:Arctic Wolf, Arctic Wolf’s 2024 Human Risk Behavior Snapshot, cyber insurance, cyber liability insurance, Cybersecurity, cyberseurity and insurance

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In this clip from our latest podcast episode, Dan Candee, CEO of Cork Protection, dives into a critical topic that hits close to home: Cybersecurity for Main Street businesses.

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Cybersecurity for Main Street: Dan Candee on Protecting Small Businesses | CEO of Cork Protection
SMB Cyber Threats - In this episode of the Cyber Insurance News Podcast, host Martin Hinton talks with Dan Candee, CEO of Cork Protection, about the rising tide of cyber threats targeting small and mid-sized businesses (SMBs). Dan shares his journey from Main Street entrepreneur to cybersecurity leader, offering real-world insight into the threat landscape, financial vulnerabilities, and how AI and managed service providers (MSPs) can help fortify business resilience.

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00:00 Introduction - Dan Candee and Cork Protection
02:27 The Importance of Cybersecurity for Small Businesses
05:29 Understanding Cyber Threats and Their Impact
08:26 The Role of Managed Service Providers in Cybersecurity
11:24 24Financial Protection and Cyber Insurance Solutions
14:01 Leveraging AI in Cybersecurity
16:53 Navigating Cyber Insurance Policies
19:56 Empowering Small Businesses with Knowledge
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