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3 Cyber Insurance Strategies
for Small Business
Attackers don’t care whether you’re a small business or a big business. It’s essential for all to take cyber security seriously and have a properly set cyber insurance policy in place.
You may be thinking, “I’ve never seen small businesses in the news becoming victims of cyber attacks.”
But recently, an 8-person accounting firm became a victim of phishing. After their email was accessed, 180 tax returns were filed by the hackers which resulted in these clients not being able to make eFiling. It took them 2 years to recover from such an event rebuilding their client’s trust and reputation in the community.
Attackers don’t care whether you’re a small business or a big business – everyone can get hacked. That’s why it’s essential for all businesses, regardless of size, to take cyber security seriously and have a properly set cyber insurance policy in place.
First, make sure you have a cyber insurance policy.
Second, renew your policy. Insurance companies hate paying ransoms. They hate being responsible for paying the bill once an attack happens. Once you’re denied, it is much harder to get insurance. To avoid being denied, it is best to make assessments for your network. One way to do this is to make a self-assessment questionnaire. Here’s a simple 5 question test that you can do:
- Do you have MFA for email and for sensitive information?
- Are you prompted on your phone when you log in to other computer devices?
- Do you have backups and are you sure they are working?
- When was the last time your tech team told you that your data was backed up in your local file or in the cloud in case of an event?
- Do you have up-to-date, active antivirus installed on all computers?
- Does 20% of your network have end-point protection installed?
- Do you have a written documented breach response plan?
- As the owner or manager, do you own the responsibility to communicate when there’s a breach that happens?
- Do you have up-to-date, active firewall technology?
- Are you paying for a subscription such as a firewall and an antivirus?
Third, avoid becoming a victim. Would you do something that will jeopardize your health? Would you go into a room with a warning of radioactive material?
You might be thinking, “I don’t have the data that hackers would want.” Well, even if you don’t have one, attackers look for hosts to infect other companies.
How would you feel if a hacker used your email to send a ransomware virus to all of your friends and business contacts?
93% of security breaches are actually preventable. One way to do this is to make sure someone inspects your network no less than every 90 days – this can be achieved through a 3rd party security assessment.
Our security team has built one of the most comprehensive cyber insurance analyses available. We have combined over 13 different cyber insurance assessments and we’re offering 2 complementary assessments for our audience each month.
Most people will say, “We already have an IT team to do this.” But we say, “Are you confident that you are protected? Will you not be more confident that you have your IT team involved?”
Simply go to troinet.com/insurance and enter your email to get a free cyber insurance readiness assessment.
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