Hopes. Dreams. Plans.
These are the buzzwords we hear every January. But in 2025, there’s a new word demanding your attention and the life of your organization depends on you taking it seriously. What is that word?
Accountability.
The cybersecurity landscape has transformed into a minefield of unseen risks. Cybercriminals are finding smarter ways to exploit gaps in your defenses, while insurers are scrutinizing claims like never before. If your IT provider hasn’t clearly communicated your risks and the steps they’re taking to address them, they may not be doing enough. Without a solid plan and documented evidence of your security measures, your organization could be left to face the consequences, and the costs, alone.
You will be held accountable, and if recent breaches that have appeared in the media are any indication of the future, this is going to be a year where you need to up your game if you want to survive. The days of saying, “My IT people take care of that” and forgetting about things are long over! The days of lawsuits by customers, clients, and patients holding organizations accountable for data breaches have arrived.
The Cyber Risks You Can’t Ignore
Cybercrime is no longer a distant threat; it’s a constant reality. Attacks like those launched by the Black Basta ransomware group target organizations across industries, with attack volumes surging 7% annually from 2022 to 2024. Financial damages are projected to surpass $10 trillion in 2024 alone.
But the risks don’t stop at stolen data or disrupted operations. The consequences of a cyberattack can include regulatory fines, lost client trust, and costly lawsuits. Many organizations assume their IT providers have everything under control, but without clear documentation and accountability, you’re going to find yourself exposed when disaster strikes.
Galactic Advisors helps organizations, and their IT providers avoid these pitfalls by ensuring every action is documented and every risk is addressed.
Think Cyber Insurance Will Save You? Think Again.
Insurance was once a safety net. Now it’s another challenge in your cybersecurity strategy.
Today, insurers are rejecting claims when organizations fail to meet stringent security standards. In fact, in 2024 40% of cyber insurance claims were denied. That’s not even the worst news. As the dust settles on a breach, the victims whose data was stolen are pursuing legal action against IT providers, claiming their failures caused the breaches.
Without documented proof that you and your IT provider have met security standards, you could be left financially exposed. Galactic Advisors works with organizations to ensure they meet these requirements, providing the evidence insurers demand.
Do You Know Where Your Liabilities Are?
Liabilities are like cavities. You may not notice them at first, but once they surface, the damage can spread quickly and become costly to fix. These hidden vulnerabilities are often the weak links hackers exploit, and increasingly, insurers are identifying them too through audits, rejected claims, and even legal action.
Here’s a common scenario: your IT provider advises you on a cybersecurity questionnaire, but critical risks go unaddressed or misunderstood. When a breach happens and your insurer uncovers the oversight, you’re left bearing the financial burden. If your organization is part of a supply chain, the liability grows even larger potentially triggering lawsuits from partners impacted by your vulnerabilities.
At Galactic Advisors, we help uncover and mitigate these liabilities before they escalate. From third-party risk assessments to airtight documentation, we ensure your organization and your IT provider can prove you’ve taken every possible step to protect your operations and minimize exposure.
A Nightmare You Don’t Want
In 2023, the law firm Mastagni Holstedt filed a $1 million lawsuit against their IT provider, LanTech LLC, after a ransomware attack rendered their backups useless. The root issue? A lack of a written agreement defining the IT provider’s responsibilities.
When the ransomware hit, the law firm was forced to pay the ransom out of pocket, and LanTech faced legal repercussions.
This isn’t an isolated incident. This is a warning. Without clear agreements and documented evidence of effort, organizations and their IT providers are left dangerously exposed. Galactic Advisors ensures these failures don’t happen by helping you build airtight documentation and accountability systems.
Turning Accountability into Opportunity
At Galactic Advisors, we believe cybersecurity accountability isn’t just about avoiding risk—it’s about creating opportunities for stronger, more secure operations. Here’s how we help organizations like yours:
- Build a Bulletproof Evidence System: From documenting security recommendations to risk acceptance forms, Galactic ensures you and your IT provider have the proof you need to defend against audits, claims, and lawsuits.
- Identify Vulnerabilities Before Hackers Do: Our third-party risk assessments uncover gaps in your defenses and highlight compliance issues before they become liabilities.
- Eliminate Insurance Uncertainty: We work alongside your IT provider to ensure your policies’ requirements are met. Together, we help eliminate common pitfalls, such as inadequate documentation or harmful policy exclusions.
- Empower Your Organization: Cybersecurity is a shared responsibility. Galactic helps your team understand their role in protecting the organization, turning accountability into an advantage.
BOTTOM LINE: Make 2025 the Year You Eliminate Hidden Liabilities
A handshake isn’t enough to protect your organization. You need proof—clear, documented evidence that your operations are secure and your liabilities are under control. Do you have it?
Galactic Advisors specializes in uncovering risks before they become liabilities. Our comprehensive risk assessment will reveal the gaps hackers and insurers are waiting to exploit. From strengthening your defenses to providing the documentation needed to protect your organization, we’ll help you stay ahead of the threats.
Don’t wait until it’s too late. Click below to schedule your risk assessment and take the first step toward securing your organization and your future.
