In this thought-provoking episode, host Jeff Edwards is joined by Gordon Malin, co-founder and CEO of Alpha Secure, to unpack the critical role of cyber insurance in today’s digital-first world. As cyber threats continue to rise, small and medium-sized businesses (SMBs) are increasingly vulnerable—yet less than 10% have standalone cyber insurance policies. Why is that, and what can be done to close the gap?Gordon shares his journey into the insurance industry, the pivotal moments that shaped his focus on cyber risk, and how events like Hurricane Katrina reshaped the way we think about systemic risks. Together, Jeff and Gordon explore the evolution of cyber insurance from a niche product to a business necessity, the challenges of underwriting cyber risk, and the growing importance of integrating cybersecurity measures into insurance products—a concept known as InsurSec.Key highlights from this episode include:✅ Why cyber insurance is essential for SMBs in an era of escalating cyber threats.✅ The alarming low penetration rates of cyber insurance among small businesses.✅ How cyber hygiene (like multi-factor authentication and regular backups) is becoming a prerequisite for coverage.✅ The looming supply-demand imbalance in the cyber insurance market and its potential impact on premiums and coverage.✅ The role of technology and InsurSec in reducing risks and creating a more sustainable insurance ecosystem.Gordon also sheds light on the misconceptions SMBs have about cyber risk, the difference between attritional and systemic losses, and how innovations in insurtech are helping businesses stay ahead of the curve.Whether you’re a small business owner, IT professional, or simply curious about the future of cyber insurance, this episode is packed with actionable insights and expert advice. Tune in to learn how to protect your business, navigate the complexities of cyber insurance, and understand why InsurSec is the way forward.Subscribe to The Safehouse Initiative for more expert discussions on cybersecurity, insurance, and how SMBs can thrive in an increasingly digital world.Listen now on YouTube, Spotify, Apple Podcasts, and all major streaming platforms!#InsurSec #CyberInsurance #Cybersecurity #SMB #RiskManagement #SmallBusiness #CyberHygiene #AlphaSecure #Podcast

In this episode of the Safe House Initiative Podcast, host Jeff Edwards and Mark Grens, co-founder of Digital Mint, explore the intricate world of ransomware attacks and the critical steps organizations must take after a breach. They discuss the evolution of ransomware payments, from unregulated practices to a more structured, compliance-driven process, including navigating OFAC sanctions and legal risks. Mark emphasizes the importance of proactive cybersecurity measures, such as two-factor authentication and employee training, to prevent phishing attacks, which are a leading cause of ransomware incidents. The conversation also highlights the psychological impact of ransomware and why many organizations only prioritize cybersecurity after an attack. Looking ahead, Mark underscores the need for ongoing vigilance as ransomware threats continue to evolve.Don’t miss essential conversation like this! Follow the Safe House Initiative Podcast for more expert insights on cybersecurity, and tune in to stay informed and prepared in the face of ever-growing digital threats.#Ransomware #Cybersecurity #Compliance #OFAC #DigitalMint #CyberHygiene #TwoFactorAuthentication #SafeHouseInitiative------Edited and Produced by Trustbridge Communications.

In this second part of our conversation with Matthew Cullina, head of the Global Cyber Insurance Group at TransUnion, Jeff Edwards dives deeper into the rapidly evolving world of cyber insurance and its critical role in today’s digital landscape.📈 Explore how the $10-12 billion cyber insurance market is growing at 25% annually, yet small to mid-sized businesses (SMBs) and families remain significantly underinsured.⚠️ Unpack the challenges of systemic risks and how the industry is addressing potential catastrophic cyber events.🔐 Learn why proactive cyber hygiene is essential and how the insurance application process can act as a cybersecurity audit for businesses.Matthew also emphasizes the importance of education in helping SMBs understand their vulnerabilities and the long-term value of cyber insurance in building resilience.🎧 Tune in now to gain actionable insights and discover how businesses of all sizes can navigate the complexities of cybersecurity and beyond.------Edited and Produced by Trustbridge Communications.