Yesterday morning, the Newark Regional Business Partnership hosted a business information workshop on minimizing cost & risk. The conversation revolved around cyber security issues, infrastructure (phone, utility), business and personal insurance, legal considerations, accounting, and more. Moderated by Paul R. Steberger, President of Applied Utility Auditors, the panel included speakers across insurance, IT, and risk assessment businesses.
John D. Goldsmith, of Buchanan Ingersoll & Rooney PC, spoke on the need for business owners and officers to have a clear understanding of the lines of demarcation between personal and business liability. Lena Licata, Senior Manager of Consulting Services at EisnerAmper, LLP talked about the benefits of approaching the large vision of your business via incremental tasks. “Think big, act big, and you’ll move really slowly. Think big, act small, and you’ll move a lot faster,” she said.
As cyber security has been on many people’s minds lately, particularly in light of breaches experienced at Sony and even the IRS in the past 6 months, Seth Danberry, President and Co-Founder of Grid32 Cyber Security provided a refreshing perspective. Seth noted that in today’s world of hackers, the attacks can be much better maintained by actively training staff in the best practices to protect company data. Believe it or not, credit card hacking is almost passé. As far as personal information, cyber threats are turning their attention to our medical records which have proved to be far more lucrative. And what is worse is that these days its much easier to be a hacker. It no longer requires a deep understanding of computers &programming. Conversely, Larry Racioppo, Senior VP at USI Insurance Services said, “The Sony breach showed that a data breach is more than just personally identifiable information.”
In the end, the audience walked away with numerous points to consider on just how protected their businesses are from threats and what strategies can be implemented to help minimize risk.
The next NRBP event will be focused on the significant impact of higher education in Newark with an in depth look at the landmark achievements at Essex County College and NJIT. The event will be held at PSE&G (80 Park Plaza, Newark NJ) and will feature Dr. Joel S. Bloom, President, New Jersey Institute of Technology and Dr. Gale E. Gibson, President, Essex County College. Tickets can be purchased by clicking HERE.
