In today’s digital age, the eminent threat of a cyber-attack has shifted from “if” to “when.” What was once a distant threat is now a reality for employers and businesses of all sizes. While many businesses underestimate their risks, cyber-attacks are just as likely to occur to small businesses as they are to major corporations. With that said, ensure your clients are secured with a comprehensive Cyber Liability Insurance policy and share the following advice with them.
According to Business News Daily, small businesses make such appealing targets is because hackers know these companies are less careful about security. An infographic by Towergate Insurance showed that small businesses often underestimate their risk level, with 82 percent of small business owners saying they’re not targets for attacks, because they don’t have anything worth stealing. However, this is not accurate and the many different types of cyber-attacks such as phishing, malware, and password attacks can have devastating consequences.
To protect against these attacks, a firewall is necessary, which can be implemented with hardware or software, provide an added layer of protection by preventing an unauthorized user from accessing a computer or network, says the article. Further, passwords should be changed frequently, two-step verification processes need to be required on all company computers, and a mobile device usage policy needs to be developed to ensure no cyber breaches occur.
Last but not least, an incident response plan should be developed. Figure out who will be responsible for halting the breach, enlist the help of professional counsel, and learn what requirements are necessary for notifying affected parties. Having a plan in place can reduce damages significantly, so devise a plan before it’s too late.
At Genesee General, we specialize in providing the right insurance policies that your clients need. For 34 years, we have continued to provide quality and affordable solutions. For more information, contact us today at (800) 282-8755.