Cyber Security Insurance: How To Protect Your Company Against A Security Breach

Decades ago, Cyber Liability Insurance didn’t exist. Today, it continues to increase in importance for businesses of all sizes and types. Today, some of the most brazen and dangerous criminals don’t terrorize with guns. They terrorize from the anonymity of a keyboard.

What Can You Do to Prevent Cyber Crimes in the Workplace?

There are simple things every business should do to minimize the risk of being victimized by cyber criminals. Here are a few of the most important, according to an article in Entrepreneur magazine.

  • Update and patch your operating systems frequently.
  • Install a firewall and software to staves off viruses, spyware, and phishing attempts.
  • Whenever software updates are made available, make the updates immediately.
  • Set up your systems so only approved individuals have the ability to install software on company computers. (Restrict this access to only your most trusted employees.)
  • Use internet filters to block employees’ access to restricted sites and prevent employees or criminals from uploading data to the cloud.
  • Disable USB ports.
  • Require all employees to change passwords frequently, and use a combination of numbers, upper and lowercase letters, and symbols.

Cyber Liability Insurance: The Last Line of Defense for Your Business

Even if you have implemented the most sophisticated measures available to prevent cybercriminals from stealing your data, you’re still at risk. Cyber criminals are smart, resourceful, and always changing their modus operandi. Even the most dedicated IT security team cannot predict how and where these criminals will strike next. That’s precisely why the Department of Homeland Security (DHS) recommends that businesses purchase Cybersecurity Insurance to mitigate losses in case they’re targeted. Security experts, including those working for the DHS, continue to be vigilant about prevention. One of the most recent measures DHS has proposed is a central cyber incident data repository. By tracking data on cybercrimes, experts say, analysts will be able to key in on patterns that can potentially prevent future crimes. Additionally, analytics can also lead to more comprehensive cybersecurity insurance products.

About Walker & Associates Insurance

If you’re not sure if your insurance is sufficient, it’s smart business to have your risks evaluated by professionals you can trust. Since being founded in 1960, Walker & Associates has embraced a “service is first” philosophy. Our team is focused on ensuring that each client receives individualized guidance to preserve their assets and control their expenses. Our strong relationships with international, national, and Indiana insurance companies allow us to negotiate the best coverages, terms, and pricing for our clients. Contact us at Walker & Associates Insurance, (888) 760-7292, for all of your business and personal insurance needs.