Cyber Insurance - There are no boundaries
From all the coverage of the ransomware virus that has crippled institutions around the world in the past few months, these key issues have emerged:
1. Is you operating software (Microsoft Windows) fully up to date, with all recent patches loaded and installed? The virus was identified earlier this year, and Microsoft has issued a patch to fix the problem in their software. It is critical that the patch is installed and operating properly.
2. Is your anti-virus and anti-malware software operating properly and fully up to date?
3. Do you have sufficient cyber insurance to respond if something does get through and affect your computers? You will need help to unravel the impact of the virus, and you may also need help if your business is closed while this happens.
4. Do your employees know how to identify spam emails? The best anti virus is no help if a staff member opens a suspect email attachment.
56 % OF KIWI BUSINESS WERE AFFECTED BY CYBER CRIME LAST YEAR.
ANY BUSINESS THAT OPERATES ONLINE IS VULNERABLE TO CYBER ATTACKS AND DATA BREACHES.
Why Cyber Insurance?
Having a modern business means you are exposed to a variety of potential cyber risks. These risks can impact you financially, affect your customers or clients and damage your business reputation. Making sure you have a cyber risk plan and Cyber Insurance is key to get your business back up and running after a cyber attack or breach.
We Can Provide Cover For
- System damage
- Computer Virus, Transmission and Hacking
- Multimedia Liability
- Business Interruption
- Computer crime
- Brand and personal reputation protection
- Breach of Statutory duties
- Privacy breach notification and loss mitigation
- Privacy fines and investigation
How To Protect Your Business
Businesses can protect themselves by looking out for email scams, by being cautious of emails from unknown senders, by taking care on social media and by only dealing with reputable institutions when trading online. For other tips on how protect your business see our other blog posts.
- Use different passwords for every account and ensure they are strong
- Back-up your business data regularly
- Store backed up data off-site and check the data restore periodically
- Keep antivirus software up to date, along with software patches and updates
- Be conscious of personal information shared online
- Know where cloud-based data is stored.
Contact one our advisors to discuss your cyber plan, We can help you assess the potential risks your business may have and advise you on how best to cover these risk before a cyber attack occurs.
Article Brought to you through ' Wall Street Journal' published by Twitter and Cartwrights Cyber Insurance Information.