Allied Insurance

Home // Info Articles // Understanding and Preventing Cyber Attacks

Understanding and Preventing Cyber Attacks

Posted on: Wednesday, June 21st, 2017

WComputer crime concepthat should you do if a hacker were to gain access to valuable information from your company? About your employees, your customers or even your business.

The better question to ask is how can you limit the chance of a cyber-attack on your company? Focusing on the latter question will save your business in the long run. It is estimated that nearly 2.1 new data breaches happen every day.

Why Companies Fear Cyber Attacks

Companies worry about the risk of encountering a cyber-attack because of the amount of money that can be lost and the uncertainty of knowing whether they are equipped to survive an attack. With the various amounts of technology available, how can a company be sure they are truly prepared for a cyber-attack?

A study by the Ponemon Institute shows that the average consolidated total cost of data breach is $4 million.

However, it is about more than the money. The loss of money and stolen data can be detrimental to a company’s brand. A company can either be viewed as a continued credible place to do business or one that needs to be avoided.

No need to fear. We have a few tips that will help you decrease the chances that a hacker will gain access to your information.

Rework Your Passwords

Are your passwords easy to figure out? Do you use the same passwords for multiple accounts? If so, change them. A hacker will have a harder time determining your password if it includes a variety of stronger words, characters, numbers, and is different per account. Do not forget to change your password often. You will keep hackers on their toes when your password is not consistent.

Update Software

Some updates on your computer and system may come with advanced security features. If you do not keep your software updated regularly, you will not be equipped with the maximum security to keep your system and programs protected.

Always Have A Back Up Server

The cloud is one of the best servers that you can use to back up your data. Backing up your data comes in handy when something is accidentally or intentionally lost and stolen. With the server, you have an extra copy of all your stored information.

Cyber Liability Insurance

At Allied Insurance Managers, we understand the risks you face and with more than 60% of data breaches targeted at mid to small sized businesses, you may need a policy that assists in the event you experience a data breach.

Are you at risk of being hacked? Ask yourself:

  • Do you store sensitive data about your clients including personal, financial or medical information?
  • Does your organization use mobile devices and/or the internet?
  • Do you use a cloud network or outsource any of your services to a third-party vendor?

If you answered yes, to any of these questions, you may need a cyber liability policy.

Follow me

Jayson Bass

Jayson has a proven track record of dedication and commitment to excellence. He takes great pride in helping business owners develop a strategic plan to help them achieve their risk management objectives and reduce their overall cost of insurance.
Follow me
Allied Insurance Managers, INC.