Tom's Blog
Cyber hacks are becoming more prevalent in our society and can impact corporations, people, reputations, and government, without notice. October is National Cyber Security Month and is aimed at promoting awareness of cyber security, staying secure in the digital world, and taking preventive measures in order to protect yourself and/or your business, and customers. In the event of a breach in cyber security, will you be protected with the right measures or will it be catastrophic?
Headline News
On any given day, there are national headline articles about companies being hacked and customers being exposed to data breaches, so it’s really not a situation of “if” it happens, but “when” it happens. When it happens to you, will you know what to do? There are ways to reduce the chances of being victimized, but you must have a strategy in place when danger strikes.
Hackers do not discriminate when it comes to cyber invasion. While many large corporations may have the financial foundation to protect their business around the clock, some mid to smaller size companies don’t necessarily have the resources to have solid security footing to protect their software, databases, and customers. Unfortunately this may spell disaster when a cyber attack strikes.
Hackers Aim to Exploit
Cyber criminals look for loopholes in your business software and databases to steal valuable files and customer information and may, then, demand an executed amount of money to restore the stolen data. In today’s cyber society, hackers don’t have to be genius, but they do have to be wise enough to detect weak spots in your software. After a data breach, there are exact timelines for alerting customers about the scenario and their current risk of identity theft. This can obviously lead to lawsuits and deterioration of the company reputation. Are you prepared for this situation if it happens?
Risk Mitigation
Mitigating your risks won’t prevent a cyber attack; however it can reduce the severity of it. Below are some typical areas of concern that may lead to a cyber attack/data breach:
Failure to encrypt private files/data- if there is a data breach, many people/files may be exposed and subject to identity theft if not encrypted. Encryption provides the added protection you need so that the information becomes more difficult for cyber thieves to steal.
Failure to constantly update networks- databases need to constantly be kept up to date on the latest technology to provide the most current protection. Cyber thieves look for weak spots in the database and proceed to steal information.
Relying too heavily on Intrusion Detection Software- this type of software is generally used to send alerts of potential cyber attack danger, but many times it sends false alarms, so when there is a real threat, it may be overlooked.
Failure to realize your company and information is never 100% secure- the minute you think you and/or your company is invincible is actually when you become most vulnerable. The more a company can prepare for worst-case scenarios; the better off they will be when a cyber attack/data breach happens.
Cyber Security Insurance
Whether you suffer a data breach, network damage, or business interruption, there is cyber security insurance coverage available to protect you. Contact us at Paramount Insurance Agency at 866-869-3335 to discuss the cyber security insurance that is right for you or visit the following website https://www.dhs.gov/cybersecurity-insurance for additional information on cyber security insurance. Don’t wait…call us TODAY!
