As a business owner it’s important to protect your business against cybercrime. While this may seem like an overwhelming task, it doesn’t have to be. Here are some simple tips to help implement a cyber-security program for your business:
- Control employee access to sensitive data. Billing, personal information and employee records should only be available to employees with data security training and limited to those who require the information to complete their jobs
- Create an employee training program
- Require strong passwords with a mixture of letters, numbers and symbols
- Require that passwords be changed every 60 to 90 days
- Use anti-malware software with regular updates and use multifactor identification methods like security questions and PINs
- Consider prohibiting the use of smartphones or other smart devices from being used while employees are at work
- Protect your business financially with Cyber Liability Insurance
What is cyber liability insurance and what does it cover?
Cyber liability insurance protects your small business from the high costs of a data breach or malicious software attack. It covers expenses such as customer notification , credit monitoring, legal fees, fines and other costly expenses.
Why do small businesses need cyber liability insurance?
Experiencing a breach in data can be extremely stressful. Recovering from a cyber attack is time consuming and expensive. Studies show that 60% of small companies go out of business within six months after suffering a breach of data. The high cost to investigate and mitigate the damage of a cyber attack often prevent a business from being able to bounce back. Implementing prevention programs is an important factor, but ensuring that you are financially protected is equally important to your livelihood and your reputation. Cyber Liability Insurance is a simple and cost effective solution.