SecurityWise: The biggest cyber threat to your business could be you
28 Jun 2021
2020 was a year like no other and a transformative time for cyber insurance. Not only did we see many more businesses waking up to their cyber risk, but we also saw more cyber incidents – and more expensive cyber incidents – than ever before.
Are you doing everything you can to protect yourself? Insurance brokers TH March share some wise advice.
Today’s digital landscape means that we are able to conduct business 24/7 should we choose to do so. The possibilities are mind-blowing, as are the potential threats. Our growing love affair with cyberspace opens us to ever-increasing risk. But are you cyber-secure?
The systems on which we rely so heavily and the information they hold – customer data, credit card and bank details, sensitive company information and so much more – can be compromised, damaged or even stolen.
So, while continuing to embrace the growing benefits of the digital age, we must also be aware of the need for good cybersecurity.
Think about your business right now. Do you have an internet security policy for employees? Have your computer systems been tested to ensure that they are protected from threat?
Many employers have had to rely more on technology during the pandemic. New technology can help make operations easier and more efficient, but they can also result in additional cyber-risks.
A business of any size can be vulnerable to a cyber-attack. In fact, criminals often see small businesses as “soft targets”. Recent studies have shown that around 40% of cyber-attacks are likely to be made against organisations that employ fewer than 500 people.
Here are some simple steps you can take now to protect your business:
- Staff training: all your employees should be aware of the possibility of cyber security
- Install, use and regularly update your antivirus and antispyware software on every computer used in your
- Use an internet firewall for your
- Download and install software updates for your operating systems and
- Make back-up copies of important business data and For jewellers, this includes security video too.
- Limit access to your computers and be certain that you know who has access and when. If there is ever a breach, this knowledge will help to establish who, if anyone within your organisation, was
- Make sure that your wi-fi network is secure by applying
- Set up password-protected user accounts for each
- Give your employees access to data strictly on a need-to-know
- Strictly limit the authority to install new software onto your
- Regularly change your
- And last, but by no means least, speak to your insurance broker about arranging cover to protect you and your business against cyber threats. Don’t simply assume that you are already adequately covered.
And a final word about passwords
Password cracking is one of the most common ways that cyber-criminals gain access to sensitive company information. That’s why ensuring your organisation takes appropriate steps to bolster password protection techniques is crucial in preventing a cyber-attack.
- Work with your insurance professionals to understand the types of cyber-cover available and secure a policy that fits your needs
- Utilise security services offered by insurance carriers and third-party vendors to strengthen your cyber-security measures
- Focus on employee training to prevent cyber-crime from affecting your operations.
TH March’s cyber insurance offering can form a key part of your defence in the event of an attack. Arranging cyber insurance cover via TH March can go a considerable way to mitigate the risks and threats to your business. Our qualified team will provide a tailored solution, specific to your business type and budget.
Find out more about TH March Partnership benefits
Read more SecurityWise advice articles
Source: TH March