The Workers’ Compensation Institute Conference (WCI) is an annual event held in Florida that brings together experts on workers’ compensation from around the country. The conference provides a forum for attendees to share their knowledge and experience and discuss current issues and trends in the field. In addition to providing an opportunity for vendors to display their services and products, the conference also offers a variety of educational seminars and workshops on topics such as claims handling, fraud prevention, and medical treatment.

The constantly changing cyber threat landscape and the increasing sophistication of cyberattacks are among the most pressing issues today. Owing to the growing threat of cyberattacks, the cybersecurity sessions of the WCI conference hope to educate stakeholders on cybersecurity trends and best practices to protect against cyber threats. In addition, with expert advice from cybersecurity solution provider GoldSky Security, stakeholders can create a security culture within their organizations and improve their cybersecurity posture.

The WCI Conference and Its Importance

The WCI conference is the most significant intellectual gathering of workers’ compensation, safety, and health professionals in the United States. This non-profit educational organization is an offshoot of the long-established Florida Workers’ Compensation Institute. It serves as a comprehensive resource for all workers’ compensation stakeholders.

Whereas the Florida Institute exists and continues focusing on Florida under the Workers’ Compensation Institute umbrella, the national organization establishes a broader outreach across all states. One of the leading comprehensive resources for all workers’ compensation stakeholders, the WCI conference sessions provide insight into current topics of interest and predictions for the following year’s conference.

As cybercrimes are increasing worldwide, there is an imminent requirement for cybersecurity in the workers’ compensation sector. According to the latest report, there was a 10% increase in the average cost of data breaches, reaching 4.24 million in 2021. The WCI conference helps gather information from numerous sources for monitoring all aspects of this regulated industry efficiently. Unfortunately, all sensitive data — such as details of paying claims, obtaining confidential medical records, financial records for underwriting purposes or premium calculations, and safety records of individual or company experiences — is lucrative for cybercriminals.

Therefore, it is necessary to protect this massive amount of electronically accumulated information that is not accessible for public dissemination. The duty to protect this sensitive information includes attorneys representing insurance companies in defense of workers’ compensation claims, doctors and hospitals providing treatment to injured workers, and individual corporate officers.

The primary objective of the sessions on cybersecurity at the conference is to educate all stakeholders in the workers’ compensation system on cybersecurity best practices. It also helps to spread awareness about the consequences of failing to protect confidential information. The cybersecurity sessions at the conference were also effective in helping the stakeholders understand the cyber risks, what to prioritize, and how to use compliance to ensure that the workers’ compensation organization is secure.

GoldSky’s Contribution to the WCI Conference

Spreading cybersecurity awareness at the WCI conference this year, GoldSky Security will be heading the Cyber Security Committee, which entails discussions and sessions to educate organizational decision-makers about the best technical physical and administrative security controls to detect, prevent, and mitigate security incidents.

In addition, GoldSky Security emphasized the necessity of cybersecurity awareness training and the presence of a formal cybersecurity program in today’s digital age. Through the various cybersecurity sessions, GoldSky has secured some industry thought leaders such as A-Lign, Knowbe4 & Shutts & Bowen, LLP who will educate the workers’ compensation stakeholders on keeping up with national and international data privacy laws and the significance of understanding the latest changes associated with the CMMC cybersecurity certification program.

In his interview, GoldSky Security’s CEO Ron Frechette explained the importance of cybersecurity for the workers’ compensation industry. Most transmitted, processed, and stored data within the workers’ compensation industry is protected health information, making it a lucrative target for cybercriminals. Cybercriminals can monetize this sensitive data through insurance fraud, identity theft, and more. In addition, Personal Health Information also has a longer shelf life than stolen credit card or bank data, making them a desirable target for hackers.

Cybersecurity today is a workplace safety issue. From simple actions like leaving the PC unlocked while unattended, placing username and passwords under keyboards, or plugging in a malware-infected USB to sophisticated phishing emails or insider threats, cybersecurity best practices are necessary at the workplace. From the WCI cybersecurity session, attendees can learn about basic cybersecurity hygiene practices that will dramatically reduce their risk of a security incident.

Although artificial intelligence and machine learning are helpful, they also have advantages and disadvantages depending on their usage. For example, cyberattacks like ransomware, wire fraud, and man-in-the-middle attacks are constantly increasing. In addition, phishing campaigns target organizations of all sizes. Therefore, organizations must provide cybersecurity training to every employee to prevent anyone from clicking a link or opening an attachment and succumbing to a socially engineered phishing email.

Conclusion

SMBs are increasingly adopting cybersecurity policies and best practices to stay ahead of today’s advanced threats. The WCI conference enables attendees to network with other professionals interested in cybersecurity. The knowledge of cybersecurity awareness offered by the conference is crucial for organizations to survive the digital industrial revolution.

While many view cybersecurity as complicated, challenging, and expensive to implement, expert guidance and understanding simplify everything. Organizations making changes and accommodating the cybersecurity policies and best practices can protect themselves from cyberattacks and keep their data secure. GoldSky Security offers robust enterprise-grade cybersecurity solutions to small and medium-sized businesses (SMBs) at cost-effective and sustainable rates. GoldSky Security will have a booth at the WCI conference for further consultation.