27 Monmouth St Red Bank, NJ 07701 (732) 649-1600 Service@BLInsuranceAdvisors.com

Cyber Security Basics for Your Business

Cyber Security Insurance In Red Bank, NJ

For all the benefits that come along with the information age, there comes a wide range of cyber security risks. The WannaCry ransomware attack recently affected more than a quarter million computers worldwide, and the Federal Communications Commission reports that digital fraud has now overtaken physical theft as the most commonly reported crime affecting small business.

Stay one step ahead of the game by beefing up your company’s cyber security.

Invest in a Professional Risk Assessment

The best way to determine risk level and maximum potential loss from a cyber-attack is to hire an outside firm to complete a full risk assessment of your network and computers/devices that connect to it. Also, they will talk a look at how your sensitive information is protected in transit, storage and use.

Understanding the full financial/reputational impact of a major breach or business disruption will help you set an appropriate budget for cyber security insurance.

The First Line of Defense Against Hackers is a Well-Trained Staff

It’s not a matter of IF an attack will happen. It’s a matter of WHEN it will happen. So the take time now to train employees to recognize cyber threats like:

  • Phishing Attacks: Understand what a phishing email looks like and what to do when one arrives in your inbox.
  • Suspicious URLs: When in doubt, do not click on questionable looking web links.
  • Dangerous Downloads: Never download executable files received as an attachment. Files that end with .exe, .bat, etc. or any macros
  • Weak Passwords: Train employees how to create passwords not easily guessed by hackers. Encourage the use of a password manager instead.
  • Mobile Entry: Require all cell phones and tablets accessing the company network be password protected.

Cyber Threats Are Everywhere

  • Antivirus protection is the most common security software on the market. The purpose of antivirus software is to detect and defend against unwanted malicious software that is intended to damage or disable computers (it’s called malware). Make sure your antivirus software is configured to get updates automatically and to run periodic virus scans.
  • Firewalls prevent unauthorized users from accessing a computer or network. While individual computers are generally equipped with a firewall, additional firewalls should be added to protect systems and data inside your network.
  • A Data Backup Solution copies important file and information to an alternate location for easy recovery in the event of a system disaster. Make sure backups are kept in a safe and secure location.
  • Encryption Software adds an extra layer of protection to sensitive data such as employee files and financial reports. This type of software converts data into an unreadable format.
  • Two-Factor Authentication boosts password security by forcing users to pass through multiple steps to verify the person really is who they say they are.

Update Systems and Software

Outdated computers, mobile devices and software not updated to the latest version are more prone to crashes, security holes and cyber attacks. Install all software patches in a timely manner and upgrade equipment before old machines and software are no longer supported.

Limit Employee Access

No staff member outside of your IT department should have access to your entire data network. Limit access to data and systems to authorized individuals who need access to do their job. Consider not allowing employees to download and install software on company owned computers and mobile devices.

Purchase a Safety Net

Even when you do everything right, cyber breaches can still happen. So protect your business from legal fees and losses associated with getting your business back up and running.

At Blue Lion Insurance Advisors, we believe buying cyber security Insurance doesn’t have to be difficult Contact us today at (732) 649-1600 or you can fill out our Contact Us form at your convenience.

Let an experienced Advisor help you find out if you’re cyber security insurance is Blue Lion Strong™!

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