High Profile or Not
High profile cyber attacks on the Colonial Pipeline and JBS once again raises awareness of the growing threat of cyber crime. A recent survey conducted by the Small Business Authority shows that small business owners are still operating under a false sense of cyber security. Are you one of them?
Only about half of those surveyed have even basic cyber security measures in place. Furthermore, only about a quarter of small business owners have had an outside party test their computer systems to ensure they are hacker proof, and nearly 40% do not have their data backed up in more than one location.
Don’t Equate Small with Safe
Despite significant cyber security exposures, 85% of small business owners believe their company is safe from hackers, viruses, malware or a data breach. This disconnect is largely due to the widespread belief that small businesses are unlikely targets for cyber attacks.
In reality, data thieves are simply looking for the path of least resistance. Symantec’s study found that 43% of attacks are against organizations with fewer than 250 employees.
10 Ways to Prevent Cyber Attacks
Even if you don’t currently have the resources to bring in an outside expert to test your computer systems and make security recommendations, there are simple, economical steps you can take to reduce your risk of falling victim to a costly cyber attack:
- Train employees in cyber security principles.
- Install, use and regularly update antivirus and antispyware software on every computer used in your business.
- Use a firewall for your internet connection.
- Download and install software updates for your operating systems and applications as they become available.
- Make backup copies of important business data and information.
- Control physical access to your computers and network components.
- Secure your Wi-Fi networks. If you have a Wi-Fi network for your workplace make sure it is secure and hidden.
- Require individual user accounts for each employee.
- Limit employee access to data and information, and limit authority to install software.
- Regularly change passwords.
Partner with Black & Ramer Insurance
I have seen a lot of change in the insurance industry over the past 20+ years but the biggest changes/enhancements have been in the Cyber Liability Policy. This coverage line seems to be changing by the day and with every breach we hear about.
A data breach could cripple your small business, costing you thousands if not millions of dollars in lost sales and/or damages. We have the tools necessary to ensure you have the proper coverage to protect your company against losses from cyber attacks. Contact us today to for additional cyber risk management guidance and insurance solutions.