Staffing Agency Insurance: Growing Threat of Cyber-Crime

Staffing Agency Insurance Growing Threat of Cyber-Crime

Staffing Agency Insurance: Growing Threat of Cyber-Crime

Cyber-attacks vary widely across the board. Hackers go after personal or financial information including credit card numbers, ATM debit card schemes, to industrial crimes and espionage. One of the biggest sources of cyber-crime is insider theft, which can occur by disgruntled or ex-employees. The main threat of cyber-crime for businesses is compromising sensitive financial data or personal customer information.

The number of cyber-attacks has skyrocketed 782% since 2006, raising the count to nearly 49,000 in 2012. As it is still a relatively new threat, many are still unsure of how to prepare for these threats. A survey of almost 2,000 executives by Deloitte found that 58% planned to boost spending on cyber-security measures in the next 6 months. However, 79% were not confident about the efficacy of their existing measures.

It is a growing concern for every business that drives even a portion of their operations online. Regardless of your size, staffing agencies should take cyber-security measures to protect their client and employee data, including firewalls, security procedures and employee education and training on cyber-security protocol.

From a recruiting perspective, the influx in cyber-crime also creates a new opportunity. Corporations and government spent approximately $60 billion on cyber-security in 2011. That number is expected to rise 10% every year over the next 3-5 years. In addition to spurring growth for IT cyber-security professionals, temporary workers are becoming increasingly important. Many corporations are turning to temporary staffing agencies to quickly procure information security professionals when they experience a breach.

World Wide Specialty Programs has always had a singular purpose – to design, develop and provide staffing insurance programs for the staffing industry. Working with over 2,000 insurance brokers nationwide, we know the staffing industry better than anyone, and can provide great options for your staffing industry insurance needs. Contact us today for more information about our staffing agency insurance solutions(877) 256-0468.