Posts Tagged Dennis Houseknecht

What is the Biggest Risk Businesses Face?

What is the Biggest Risk Businesses Face?

Dennis Houseknecht, VP Partner Development, Waterloo Security Ltd.

Businesses large and small have to manage risk. They invest in risk-reduction measures, including fire sprinklers, alarm systems, security cameras, and employee training programs.  The remaining risk is transferred through insurance.

What is the single biggest risk businesses face?  It is not fire. It is not break-ins, shoplifting, or other traditional crimes.  It is not floods or other natural disasters.

For the past two years, the biggest risk faced by businesses is……..Cybercrime.

Cybercrime has become more profitable than the illegal drug trade.

Who are the criminals? They are not just casual hackers or “script kiddies”. Cybercrime is perpetrated by highly organized and very well-funded criminal organizations. These are the same criminal organizations that rob banks, run illegal gambling operations and smuggle illegal weapons. Smart criminals go where the money is. The word “cybercrime” suggests something less nefarious than extortion or drug trafficking. That is unfortunate, because cybercrime is as ugly and malicious as it gets. Lives are ruined and companies are put out of business by cybercrime.

Who is helping your clients understand the risks?  Who is helping them understand the importance of investing in security?  If you don’t talk to your clients about security, who will?

As “business consultants” and “trusted advisors”, managed service providers have an obligation to their clients to identify and manage business risks.

Even the most effective preventative measures cannot eliminate all risk.  Despite investments in fire prevention and suppression measures, fires do occur. Few businesses could survive the catastrophic losses associated with a fire, so they transfer the remaining risk through fire insurance.  What about the greatest risk businesses face – cybercrime? Are our clients covered for those losses?  In a future article, we will discuss ways to transfer the risks associated with cybercrime through cyber-insurance.

Email: or Call 1-304-906-2184.

Posted in: Security

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Cyber Liability Protection for MSPs and Their Clients

Get Your Foot In The Door With Managed Security

Find out how you can…

  1. Save money on your liability insurance and gain far greater insurance coverage
  2. Generate ongoing annuity revenue while protecting your clients with the new security-as-a-service The Ultimate Firewall (TUF)™ *program
  3. Have one of WatSec’s insurance partners close *TUF *cyber risk management sales business on *your *behalf for *your *clients and prospects
  4. Gain an *advantage over your MSP competition by offering a unique and powerful new cyber risk management offering…

Learn how to protect yourself & your clients…

  • Three critical steps for Cyber Risk Reduction
  • Reducing cyber risk to manageable levels
  • The role Cyber Liability insurance plays in cyber risk management
  • Understanding the 3 key types of liability insurance available to MSPs
  • Get *TUF *today for yourself, your clients, and your new prospects


Dennis Houseknecht
VP of Partner Development

Jad McGregor
ABEX Insurance

Webinar Details

Wednesday, November 9 at 4 PM Eastern or 1 PM Pacific
Register online

Posted in: Educational Webinars, Events

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