What is Cyber Risk and are you in Danger?
Cyber Risk refers to any risk of financial loss, disruption or damage to the reputation of an organization resulting from the failure of its information technology systems. In the recent past there have been numerous attacks that have jeopardized the security of personal data from major companies around the world. This is clearly an issue that is a growing concern for businesses of all sizes. With cloud computing, social media and employees using their own devices for work, companies need an effective strategy to prepare, prevent and protect their businesses from cyber risks. These attacks are quick to spread and if users have not updated their operating systems, applied security patches or backed up their data the next cyber attack could leave their companies rendered helpless.
Tips for preventing Cyber Attacks in your Company
- Proper Maintenance is critical – regular backups, updating of operating systems and proper install of security patches
- Installing anti-malware and anti-ransomware software in addition to anti-virus software
- Making sure proper coverage is in place and ensuring you understand what is and isn’t covered by your companies insurance policy(ies).
- Are third-party damages covered?
- Are expenses for professional services covered? (i.e. computer, legal and public relations)
- Are the limits adequate to cover your companies exposure?
To better understand the cyber risk your business may be exposed to, contact our knowledgeable staff at Broker Age General Insurance today.
** NOTE : The information provided in this blog is of a general nature. It may not be specific to your particular situation. We recommend you consult our office for appropriate advice **
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