Episode Description
This episode is a frank look at how outdated communication puts your firm—and clients—at risk. Whether you call it “cybersecurity,” “cyberliability," or “network security,” it’s risk and “it’s scary,” says Mike Shea, president of boutique insurance brokerage firm SGP Advisors. Since Covid, this type of insurance has surpassed malpractice among SGP’s client base. With host Paul Bamert, Michael explains the critical distinction between incidents and breaches, why 50% of businesses still lack cyber coverage, and how state-by-state regulations complicate response protocols. He emphasizes that while insurance premiums are rising, the real cost lies in business disruption, reputational damage, and time diverted from core operations.
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