For many businesses cyber security can be a major challenge. Most small to medium-sized companies are often the target for cyber criminals due to their lack of a good cyber security system as a larger organization would have. As cyber attacks are becoming a more and more common problem, it is very important to take the right steps to help protect your business from cyber crimes. InsureWise LLC would like to share a few tips on how to protect your business from cyber crimes, and why you need cyber liability coverage.
Ways to Improve Your Cyber Security
As many smaller or medium sized businesses will use email as the primary form of communication, it is not as safe as many people may believe. A ton of sensitive information is passed through emails which can be easily breached. Breaches within the business’s digital information can lead to funds transfer fraud, stolen data, and ransomware. To help improve your data you can implement multi-factor authentication, update your software regularly, maintain data back-up, and enable remote access. Additionally, security that is also recommended can include a password manager and scanning for malicious software. You may also want to encrypt your data.
How Do I Train Employees for Cyber Security?
To reduce cyber risks you will want to have your employees trained and made aware of the potential danger of cyber-crimes. The more aware they are on how and what cyber criminals are after can better help your company stay safer. You will want to also make sure all of your employees know how to use the protective software and avoid releasing certain information through email or online. There are also programs outside your company that may be able to help make it safer and many of these programs include employee training courses.
What are the Main Covers Under Cyber Liability?
Even with all of the training and some of the best cyber defenses in place, cyber technology is always changing which makes it hard to be completely secure. In other words, a business will never be 100% secured or protected from cyber-crimes. This is why it is in the best interest of smaller as well as mid-sized companies to have cyber insurance. Cyber insurance can help protect a company recover losses due to a cyber related crime. Currently the number one claim filed are those that are cyber related. Cyber attacks are all too common and many businesses do not have cyber insurance. Many companies will often get cyber insurance once they were a victim of a cyber attack and experienced the aftermath. It is much better to have cyber insurance instead of hoping you never become a victim. Cyber liability insurance usually covers the following:
• Driver’s License Numbers
• Social Security Number
• A Business’s Cyber Security
• Person, Employee and Customer Information
• Bank Accounts and Credit Card Information
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However, cyber insurance can be tailored to meet the needs of your company. As each business will vary on how much they use and rely on computers, insurance is tailored to fit that particular business. To ensure personal as well as your employees and customer’s information is protected from cyber theft, you will want a quality cyber liability coverage plan. To find the best insurance coverage for your small business, contact InsureWise LLC or fill out this quick and easy quote form today.