Four Tips to Protect Your Business From Cyber Attacks

March 18th, 2019

What Every Business Owner Needs to Know About Cyber Liability

Recent statistics show that cybercrime has been growing exponentially. It’s actually become the fastest growing crime in the world. Cyber-attacks and network security breaches by hackers have become increasingly common, with countless companies around the world dealing with viruses, data loss, network damages, and information theft. These facts pose a very serious concern for most businesses, especially as they continue to invest heavily in the limitless opportunities that cyber technology is presenting nowadays.

  • Leveraging digital solutions for the betterment of your business doesn’t mean you should stop safeguarding your company against the risks that result from conducting your business operations in the digital space.

It shouldn’t matter if your business is big or small. Your clients’ confidential data, social networks, emails, financial transactions, and collaborative work files can still be hacked into and used to drain your company’s finances and perhaps even ruin your business reputation.

That’s not to mention the legal actions that can be taken against you, as a business owner or manager, in the event your company fails to protect the privacy of your clients’ confidential information, which may result in loss or damage to their personal or professional interests.

  • No amount of investment in cyber security can completely eliminate “human error”, the number one cyber threat businesses face today.
  • For every creative mind that worked hard to develop outstanding digital solutions to make our lives easier and our businesses more profitable, there’s an evil genius who’s managed to take those smart solutions and turn them into malicious tools. When used expertly, they can result in serious legal liability issues that may drastically cripple your business functions if not completely shut down your operations.

So what can you do to protect your business?

1. Limit the amount of information available in public domains

If the nature of your business requires posting some of your clients’ information online, your business is automatically at risk. You should either:

  • limit the amount of information you share openly online, or
  • attempt to make your clients’ personal data less identifiable by cybercriminals.

2. Invest in up-to-date ransomware protection

To protect your business’s virtual interests from malicious cyber-attacks, you need more than a strong security system, you need an up-to-date one!
Avoid investing in unreliable cloud services. Instead, consider using smart solutions, such as:

  • burner (dummy) emails,
  • encrypted data programs,
  • reputable ransomware protection, and
  • portable hard drives

3. Train your staff ‘regularly’ on using advanced cyber protection tools

The importance of familiarizing your staff with today’s cyber threats as well as training them to either deal with those threats or at least avoid them can’t be stressed enough.

Let’s put this in simpler terms . . .

Cybercriminals are clever, and so should be your staff!

You may not be able to completely eliminate the human error factor from your cyber communications, but you can certainly mitigate the damage that may result from it.

A good place to start . . .

Have a cyber security expert train your staff to deal with cyber threats, such as scammers impersonating a business, fraudulent emails, viruses, etc.

4. Purchase Cyber Liability Insurance for your business

Unfortunately, most traditional commercial insurance policies are designed to protect physical assets, not virtual property, such as data, installed software, or code. Rogers Insurance offers cyber liability insurance that can protect you in the event your data or network infrastructure is compromised. Our team brings unique experience in handling the complexities of cyber-attacks and cybercrime and can help ensure you’re protected in case of a data breach, IT damages, or theft of sensitive company information.

Find out how cyber liability insurance can protect your business!

Give us a call at Rogers Insurance and chat with one of our brokers about our Cyber Liability Insurance policy options.

You can also get a quick quote today!

Comments are closed.