Whether talking cyber security or Social Security, we help protect your future.

Published April 12, 2017
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By MAUREEN SYLVIA ARMSTRONG

President/CEO

At first glance, the two seminars might appear to have little in common — last month's on the role of federal benefits in retirement planning, next month's on the evolving risks businesses face through cyber activity.

But the two events share a couple of common themes: preparedness and security.

When former Social Security Administration official Kurt Czarnowski spoke to guests at Sylvia Group on March 28, he talked about the importance of preparing to have federal benefits be just one component of a retirement portfolio that provides financial security. When nationally recognized expert Chas Bellingrath of ARC Excess and Surplus, LLC, addresses attendees at our May 23 seminar, he'll be speaking about how understanding exposures and preparing for breaches can protect the future of a business.

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Just as too many people think Social Security alone will provide sufficient funds in retirement, too many owners of small- and medium-size businesses think cyber risk is limited to corporate giants such as Sony and Target (along with government agencies and politicians). Actually, though, most cyber attacks target small- and medium-size businesses, which typically have less security and fewer means to recover from a breach.

Sony, Target, Anthem, Home Depot — they all had the resources to continue operations and recover financically from attacks that affected from 10s of millions to a billion customers. Smaller businesses whose operations are shut down for a prolonged period and who are faced with costs totaling more than $200 per breached record may never recover. 

In fact, as reported by the Denver Post, 60 percent of small companies that suffer a cyber attack are out of business within six months:

The U.S’ National Cyber Security Alliance found that 60 percent of small companies are unable to sustain their businesses over six months after a cyber attack. According to the Ponemon Institute, the average price for small businesses to clean up after their businesses have been hacked stands at $690,000; and, for middle market companies, it’s over $1 million.

That's why what Chas Bellingrath has to say is so important. And so valuable.

During the cyber-risk seminar, he'll: 

  • define and explain cyber exposures.
  • give examples of breaches.
  • provide claim scenarios.
  • detail how the introduction of laws and regulations regarding cyber issues have affected insurance needs.

In addition, you'll learn policies and procedures for dealing with a cyber security breach and find out how much various forms of hacking can cost your business. We'll also provide information on protecting your business with cyber insurance.

Security. Preparedness. Two goals we have for all of our clients — businesses and individuals. The Sylvia Group Education Series, including these two seminars, is one of the ways we help achieve those goals ... all part of protecting your future.


About Maureen Sylvia Armstrong and Sylvia Group

For more than three decades, Maureen Sylvia Armstrong has served her clients and her community, Maureen_2009_cropped.jpgdistinguishing herself as a recognized business and civic leader on Massachusetts' SouthCoast. From the time Maureen entered the agency founded by her grandfather in 1950, Sylvia Group has grown from a staff of 10 employees to a team of almost 50 highly trained professionals providing insurance, employee benefits and financial planning solutions to businesses and individuals throughout the SouthCoast and beyond. A graduate of Boston College’s Carrol School of Management with degrees in finance and marketing, Maureen has been honored by the New Bedford Area Chamber of Commerce as Small Business Person of the Year, by SouthCoast Media Group as Woman of the Year and by Bristol Community College as a Benevolent Entrepreneur.

Sylvia Group helps businesses and individuals protect their future by designing insurance, employee benefits and financial planning programs. We’re a locally owned agency known for our commitment to our clients and our community, as well for our industry expertise. Founded in New Bedford, MA, in 1950, headquartered in neighboring Dartmouth, and serving businesses and individuals throughout Massachusetts, Rhode Island and beyond, Sylvia Group is certified as a Woman Owned Business Enterprise with the Massachusetts Supplier Diversity Office and has the distinction of being the first six-time recipient of the Five Star designation awarded by the Massachusetts Association of Insurance Agents (MAIA) for all-around agency excellence.

Upcoming Events

SUPPORTED EVENT:
UNITED WAY OF GREATER NEW BEDFORD
2016-17 Campaign Celebration

Wednesday, April 12
5:30-9 p.m.
Rosebrook Event Center
Wareham, MA
More Information »
HOSTED EVENT:
FREE SEMINAR
Cyber Risk and Your Business: Know the Exposures

Tuesday, May 23
8:30-10:30 a.m.
Sylvia Group
500 Faunce Corner Rd.
Building 100, Suite 120
Dartmouth, MA
More Information »
SUPPORTED EVENT:
NEW BEDFORD SYMPHONY ORCHESTRA
Seaside Swing 2017:
Phantom of the Symphony

Saturday, June 3
5:30 p.m.
The Kittansett Club
Marion, MA
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SUPPORTED EVENT:
BUZZARDS BAY COALITION
Buzzards Bay Swim

Saturday, June 24
7:15 a.m. start
The Edge Seafood & Lounge, New Bedford, to Fort Phoenix Beach, Fairhaven
More Information »

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    – Evelyn Bettencourt, Owner, Fay's Restaurant and Knotty Pine Fine New England Catering