Cyber security coverage is vital

Cyber security coverage is vital

August 07, 2020 3:03 PM

With an increasing number of countries encouraging citizens to stay, learn or work from home, the time is right to focus on cyber security and Cyber Security Insurance.

A Cyber Insurance policy covers the liability and costs incurred in the handling of a cyber-attack or breach, restoration costs for lost data resulting from a Cyber breach or any form of data breaches.

This special kind of policy is especially suited for businesses who handle sensitive data involving customer information, such as Taxpayer Registration Numbers, Credit Card Numbers, Account numbers, Driver’s license numbers and health records.

It is wise for every business to get Proper Cyber Security Insurance coverage to protect your customer base.

While you explore policy options, here are some key tips to provide some basic safeguards for your information:

  • Back up all your important files, and store them independently from your system (e.g. in the cloud or on an external drive);
  • Always verify you are on a company’s legitimate website before entering login details or sensitive information.

Check your software and systems

  • Ensure you have the latest anti-virus software installed on your computer and mobile devices;
  • Secure email gateways to thwart threats via spam;
  • Strengthen your home network
  • Secure system administrations vulnerabilities that attackers could abuse
  • Disable third-party or outdated components that could be used as entry points
  • Download mobile applications or any other software from trusted platforms only
  • Perform regular health scans on your computers or mobile devices.

Be vigilant

  • Talk to your family members −including children − about how to stay safe online
  • Regularly check and update the privacy settings on your social media accounts
  • Update your passwords and ensure they are strong (a mix of uppercase, lowercase, numbers and special characters)
  • Do not click on links or open attachments in emails which you were not expecting to receive or coming from an unknown sender

If you do experience a Cyber breach, a solid Cyber Insurance policy will protect you from any loss sustained and any data regeneration costs.

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