TSG Financial Blog

Posted by Jessica Dunbar on Nov 7th, 2018

High-profile cyber attacks on companies such as Target and Sears have raised awareness of the growing threat of cyber crime. Recent surveys conducted by the Small Business Authority, Symantec, Kaspersky Lab and the National Cybersecurity Alliance suggest that many small business owners are still operating under a false sense of cyber security.

The statistics of these studies are grim; the vast majority of U.S. small businesses lack a formal Internet security policy for employees, and only about half have even rudimentary cybersecurity measures in place. Furthermore, only about a quarter of small business owners have had an outside party test their computer systems to ensure they are hacker proof, and nearly 40 percent do not have their data backed up in more than one location.

Don’t Equate Small with Safe

Despite significant cybersecurity exposures, 85 percent of small business owners believe their company is safe from hackers, viruses, malware or a data breach. This disconnect is largely due to the widespread, albeit mistaken, belief that small businesses are unlikely targets for cyber attacks. In reality, data thieves are simply looking for the path of least resistance. Symantec’s study found that 40 percent of attacks are against organizations with fewer than 500 employees.

Outside sources like hackers aren’t the only way your company can be attacked—often, smaller companies have a family-like atmosphere and put too much trust in their employees. This can lead to complacency, which is exactly what a disgruntled or recently fired employee needs to execute an attack on the business.

Attacks Could Destroy Your Business

As large companies continue to get serious about data security, small businesses are becoming increasingly attractive targets—and the results are often devastating for small business owners.

According to the Kaspersky Lab, the average annual cost of cyber attacks to small and medium-sized businesses was over $200,000 in 2014. Most small businesses don’t have that kind of money lying around, and as a result, nearly 60 percent of the small businesses victimized by a cyber attack close permanently within six months of the attack. Many of these businesses put off making necessary improvements to their cyber security protocols until it was too late because they feared the costs would be prohibitive.

10 Ways to Prevent Cyber Attacks

Even if you don’t currently have the resources to bring in an outside expert to test your computer systems and make security recommendations, there are simple, economical steps you can take to reduce your risk of falling victim to a costly cyber attack:

  1. Train emloyees in cyber principles
  2. Install, use and regularly update antivirus and antispyware software on every computer used in your business
  3. Use a firewall for your internet connection
  4. Download and install software updates for your operating system and applications as soon as it becomes available
  5. Make backup copies of imporatnt business data and network components
  6. Control physical access to your computers and network components.
  7. Secure your Wi-Fi networks. If you have a Wi-Fi network for your workplace make sure it is secure and hidden.
  8. Require individual user accounts for each employee.
  9. Limit employee access to data and information, and limit authority to install software.
  10. Regulary change passwords.

Your Emerging Technology Partner

A data breach could cripple your small business, costing you thousands or millions of dollars in lost sales and/or damages. Contact TSG Financial, A Division of Risk Strategies today or call 516.747.7373.  We have the tools necessary to ensure you have the proper coverage to protect your company against losses from cyber attacks.



This Cyber Risks & Liabilities document is not intended to be exhaustive nor should any discussion or opinions be construed as legal advice. Readers should contact legal counsel or an insurance professional for appropriate advice. © 2012, 2014 Zywave, Inc. All rights reserved.



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Posted by Jessica Dunbar on Nov 1st, 2018

Participants in 401k and other defined contribution retirement accounts will see a raise in their annual contribution cap from $18,500 to $19,000 in 2019, while catch-up contribution limit on defined contribution plans remains unchanged at $6,000 according to the Internal Revenue Service.

There will be increase for Savers with IRAs will see the annual contribution cap from $5,500 to $6,000 — the first time the cap on IRA deferrals has been raised since 2013. The annual catch-up contribution for savers age 50 and over will remain at $1,000.

The annual defined contribution limit increased to $56,000 as well as the Defined Benefit Plan Annual Limit increased to $225,000

Below is a chart explaining the Retirement Plan Limits

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Posted by Jessica Dunbar on Sep 26th, 2018

The 2017-2018 seasonal flu was the worst flu in decades, according to the CDC. In fact, it was the first flu season to be classified as a high severity across all age groups. Last year's flu activity began to increase in November and remained elevated through March. With the 2018-19 flu season approaching quickly, you need to take the proper steps to ensure you remain healthy this year. 

  • Get the flu vaccine. Becoming vaccinated against the flu is the best chance of preventing illness.
  • Avoid close contact with people who are sick and stay away from others when you feel under the weather.
  • Wash your hands often using soap and very warm water to protect against germs.
  • Get plenty of sleep, stay physically active and drink plenty of water to keep your immune system strong.
  • Manage your stress and eat a nutritious diet rich in healthy grains, fruits, vegetables and fiber.
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Posted by Jessica Dunbar on Sep 26th, 2018

Football Sundays wouldn't be complete without a game day food spread. Unfortunately the typical foods isn't always the healthiest.  If your snacks consists of nachos, pizza, and wings, you might want to reconsider.  While indulging every now and then is fine, indulging every Sunday, might not be as healthy.  To help you clean up your tailgating treats for you and your guests, here are some healthy alternatives approved by the USDA:

  1. Orange Glazed Skinless Chicken Wings
    • Sprinkle 10 boneless, skinless chicken wings with 1tsp of seasoned salt
    • Placed the seasoned chicken into a skillet with heated butter
    • Sauté wings until browned on both sides (about 20 minutes)
    • Add 1/2 cup of orange marmalade to skillet and continue to cook for another 20 minutes
  2. Cucumber Yogurt Dip
    • Peel, seed and grate one large cucumber
    • Combine cucumber with 2 cups of plain low-fat yogurt
    • Add 1/2 cup of sour cream
    • 1 Tbsp of lemon juice
    • 1 Tbsp fresh dill
    • 1 clove of chopped garlic
    • Mix all ingredients
    • Let chill for 1 hour and serve with veggies
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Posted by Jessica Dunbar on Sep 14th, 2018

Watch for signs of job stress, including: 

  • Headache 
  • Sleep disturbances 
  • Upset stomach 
  • Difficulty concentrating and focusing 
  • Irritable mood 
  • Low morale 
  • Negative relationships with family and friends

#ThursdayThoughts #Stress #JobStress

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Posted by Jessica Dunbar on Sep 12th, 2018

Taking full advantage of the beautiful trails at Mohonk Mountain House.  Thanks for hiking with us Mark Becker from The Jewish Home!

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Posted by Jessica Dunbar on Sep 12th, 2018

Last week Paul Essner, Bryan Pendrick and our newest member of the team Sean Rosenfeld went to Mohonk Mountain House for the 2018 HCA Financial and Managers Retreat



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Posted by Jessica Dunbar on Aug 28th, 2018

#HappyNationalBowTieDay to our very own Paul Essner and Bryan Pendrick!

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Posted by Jessica Dunbar on Aug 28th, 2018

#TuesdayThoughts #thoughtoftheday #TuesdayTip

9 Ways to Stay Mentally Strong in Your Busy Life

  1. Write down 3 things you're grateful for every day
  2. Never argue with strangers
  3. Celebrate your successs more often
  4. Stop comparing with others and focus on yourself
  5. Allow yourself to be vulnerable
  6. Declutter by throwing away things you haven't used in a long time
  7. Use more positive words
  8. Cry when you are really sad
  9. Spend time along regularly

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Posted by Jessica Dunbar on Aug 27th, 2018

How can you schedule your day for maximun productivity!

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