e-Management CEO Testifies on Cybersecurity Insurance before Senate Subcommittee
Silver Spring, MD – March 19, 2015 – e-Management Founder & CEO Ola Sage testified earlier today in front of the Senate Committee on Commerce, Science, and Transportation, Subcommittee on Consumer Protection, Product Safety, Insurance, and Data Security. Ms. Sage discussed e-Management’s experience as a small business consumer of cybersecurity insurance products. Ms. Sage also highlighted the “general lack of awareness in the small and medium-sized business (SMB) community about (1) the need for cybersecurity insurance; (2) what cybersecurity insurance products exist on the market; (3) what the various polices cover; and (4) the costs for cybersecurity insurance.” Read the full Prepared Testimony and Statement for the Record.
During the hearing, Ms. Sage offered three recommendations she believed would encourage more small businesses to take greater advantage of cybersecurity insurance products. First, Ms. Sage asserted that there needs to be an increased awareness of cybersecurity insurance as a risk transfer option for SMBs. According to a recent industry survey, only a third of SMBs are even aware that cybersecurity insurance exists. Second, there is a need for competitive cybersecurity insurance products designed for the SMB community that are affordable. Lastly, she argued that SMB that demonstrate that they are actively managing their cybersecurity risks and implementing reasonable security measure should be preferred candidates for lower premiums. Watch the full hearing here.
e-Management, established in 1999, delivers professional IT services and cybersecurity solutions that drive business performance. Its newest software innovation, CyberRx, helps SMBs reduce their cybersecurity exposure by enabling them to measure, mitigate, and continuously manage their cybersecurity risks using the National Institutes of Standards and Technology (NIST) Cybersecurity Framework as a guide. An award-winning and CMMI® Maturity Level 3 rated company, e-Management is a woman-owned, minority-owned, small business headquartered in Silver Spring, Maryland, and is certified by the State of Maryland as a Minority, Small, and Disadvantaged Business Enterprise (MBE/SBE/DBE). Additional information about e-Management and its services can be obtained at www.e-mcinc.com.