Cybersecurity Risk in High-Risk Business Enterprises


Even with the constant stream of media attention and general awareness about cybersecurity threats, businesses continue to fall victim to cyberattacks. This is perhaps because cyber threats are so diverse and unique that it is difficult for any one business to protect itself completely. However, there are some types of businesses that are at a greater risk of falling victim to a cyberattack than others.

So which type of business is most at risk from a cyberattack? High-risk enterprises have unique characteristics or circumstances that put them at higher risk than other businesses. These include businesses in specific industries; those dealing with sensitive data; those with remote employees; or those operating in an unstable environment. In this post, we will explore the risks posed by each of these factors and how they can make even the smallest business more susceptible to attack.

Industries with Higher Risk of Cyberattacks

Certain industries are much more likely to fall victim to a cyberattack than others. This is because the nature of these businesses makes them more susceptible to certain cyberthreats.


Government organizations often operate with sensitive data, which can make them a prime target for hackers looking to gain state secrets. These organizations also have significant amounts of data on their citizens, including social security numbers, addresses, and medical records.


Healthcare organizations are required to store a lot of sensitive data, such as medical records. This makes them a prime target for cybercriminals looking to sell this information on the black market.


Finance companies often handle large quantities of sensitive data as well as high-value assets. Hackers often target these companies in hopes of gaining access to the funds they are holding.


Technology companies often store sensitive data and may also hold information on their customers. This makes them a prime target for cybercriminals looking to access this data.

High-Risk Industries

Another set of industries that are at higher risk than others is those involved in the cannabis, alcohol, and adult entertainment industries. The high risk of these industries can be attributed to the fact that they are highly regulated. In the case of cannabis, it is still illegal at the federal level. This lack of consistency makes them attractive targets for cybercriminals looking to cash in on this illicit activity.

Businesses that Deal with Sensitive Data

Certain businesses deal with sensitive data on a daily basis, and this makes them more susceptible to cyberattacks. Some examples of businesses that deal with sensitive data include healthcare providers, government organizations, and financial institutions. When dealing with sensitive data, businesses should consider the following best practices: Implement security controls to prevent data breaches

Data breaches can occur at any point in a network, so it is important to implement security controls at all levels. This includes the use of firewalls, encryption, and antivirus software.

Store Data In A Secure Location

Once data has been collected, it must be stored in a secure location. This can be achieved by storing data offline or in a secure cloud environment.

Educate Employees On Cybersecurity Best Practices

Employees are often the main reason for data breaches. It is important to educate employees on how to spot a cyberattack and what they should do if they come across one.

Educate Customers On How To Protect Themselves

It is also very important to educate customers on cybersecurity and how they can protect themselves from hackers.

Offer Free Training To Employees And Customers

It is also important to offer free cybersecurity training for customers and employees. This will allow them to become familiar with industry best practices, as well as gain knowledge about how to protect themselves from cyberattacks.

Use Strong Passwords

Passwords that are easy for a person to remember, such as their first name, are often the most vulnerable and susceptible to a hacking attack. Passwords should be cryptic and difficult to guess.

Facilitate The Reporting Of Phishing Emails

Many cyberattacks are caused by phishing emails, so it is important for companies to have a system in place for employees and customers to report these types of emails.

Use 2-Factor Authentication

A lot of cyberattacks occur when hackers gain access to their victims’ accounts by stealing their username and password. The best practice is to use 2-factor authentication. This means that if the user attempts to log in from a new device, they will be prompted for a code that is sent via text message or another method of communication.

Encrypt Sensitive Data

Data must be stored in a secure environment, and it should also be encrypted. This means that the data cannot easily be accessed by hackers.

Businesses with Remote Employees

Some businesses choose to hire employees who work remotely and live in different areas across the country or even the world. This can be beneficial to businesses as it cuts down on overhead costs. However, remote employees can make it difficult to spot a cyberattack as there are fewer ways for a company to detect any problems.

Businesses that employ remote employees are at a higher risk of being targeted by cybercriminals. This is because employees connected to the company from a remote location, such as a home computer, are far more susceptible to an attack than those working in an office. Remote employees can be targeted through a variety of methods including phishing scams and ransomware attacks, as well as spyware and other types of malware.

Call to Get a Quote for Cyber Liability Insurance

Cybersecurity threats have become all too common in recent years. In fact, cybersecurity breaches have become so common that they happen about once every two minutes. No business is completely safe from a cyberattack, but some are more at risk than others. Certain industries, businesses that deal with sensitive data, and those with remote employees are more likely to fall victim to a cyberattack. These businesses should consider the above best practices in order to protect themselves from a cyberattack.

Additionally, Millers Insurance Group provides cybersecurity insurance to companies in a variety of industries, including cannabis-related businesses. Please reach out to us or fill out our online form to get an insurance quote today.

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