Is Your Workplace Covered?

Technology in both the home and the workplace is continually evolving and as consumers, we’re eager to devour it. But have you stopped to consider if you have the right cyber-security measures in place? It’s tempting to ignore it, but with the number of people and businesses allowing staff to work from home, cyber security is now more important than ever.

Points to consider

If you’ve protected your network against unwanted attacks you may think you’ve got it covered, but cyber security needs to be a co-ordinated end-to-end effort. Here’s just a few points to consider:

• If you’re holding customer data – have you got the right levels of data security in place? It never hurts to review it
• Apps are constantly tested and updated to ensure that they are secure from attacks. Make sure that you keep your apps up to date. If you receive an update notification download the latest version
• If you have staff working from home, remote access is a necessity. Make sure that you’ve got endpoint security (mobiles, tablets, PCs, etc) in place, especially if employees are using their own devices
• Be aware of employees’ levels of access within your organisation
• Consider installing ad-blocking and anti-crypto mining extensions to keep your internet browsers secure
• Remind staff not to click on suspicious websites or links in emails

Disguised threats

Cyber threats come in all guises. DoS botnets hack into a device and trick the owner into downloading software. Once downloaded, the botnet’s operator will have full control of the device (any device with a processor and internet access) and can launch a DoS attack to shut down a company’s website or email spam internet users at will. To avoid botnet issues:

• Always confirm software or an attachment’s validity before downloading it
• Keep your operating system updated
• Implement hacking safeguards – anti-malware software / firewalls for example

Security threats evolve quickly and keeping up with them can seem like a daunting prospect. But continuous monitoring can help. The National Cyber Security Centre (NCSC) offer support to both business and the public. Their Small Business Guide has practical advice and tips on:

• Data backups
• Preventing malware from damaging your business
• Keeping handheld devices safe
• Password protection
• Advice on avoiding phishing attacks

Cyber Insurance Protection

Cyber insurance protects businesses from threats such as data breaches or malicious cyber hacks on work computer systems. Most policies cover first party and third party financial and reputational costs. For example, First-Party cover generally covers the cost of:

• Investigating a cyber-crime
• Recovering lost data as a result of a security breach
• Restoring computer systems
• Loss of income as a result of business shutdown
• Reputation management
• Extortion payments

Third-Party cover generally covers the cost of:

• Claims against you including damages and settlements
• Costs of legally defending yourself against claims of a GDPR breach

More sophisticated cyber-threats mean a greater threat to business. Cyber Cover is no longer a ‘nice to have’ but rather a necessity and should form part of your business insurance portfolio.

Contact us for advice or guidance on industry-specific insurance solutions