5 Tips for Keeping Your Business Cyber Safe

Posted by  On July 19, 2021
Tips for keeping your business cyber safe

No matter what size of business you run, cybersecurity is something you need to be concerned about. Hackers are always busy coming up with new schemes and threats, and you must be prepared for them.

The good news is that there are several ways you can keep your business cyber safe. We’ve put together a list of tips that can help keep you, your employees, and your business safe in cyberspace:

  • Offer comprehensive employee training
  • Have a strong password policy
  • Instill in your employees the importance of device security
  • Keep your software up to date
  • Have ongoing risk assessments and a response plan

Another way you can keep your business protected is with cyber risk insurance. Good cyber risk insurance from Archway Insurance will provide you with the coverage you need if your business data is ever breached. 

1. Offer Comprehensive Employee Training

One of the best ways you can help prevent cyberattacks from occurring is to make sure your staff is well-trained about potential cyber risks. Your employees should know how to recognize all of the following kinds of cybercrimes:

  • Phishing is a very common type of cybercrime. With phishing, your employees will receive an email that tricks them into revealing sensitive information such as their passwords or credit card numbers via a link that looks genuine but isn’t.
  • Malware is short for “malicious software.” It is a type of program or file designed to access your employee’s computer. Your employees may even download it by accident from an innocent-looking website! One type of malware frequently mentioned in the news these days is ransomware, which can lock entire companies out of their systems until a ransom is paid.
  • Social engineering is when your employees are manipulated to take an action such as buying gift cards on a company credit card by someone pretending to be their manager or another high-ranking employee.

Any of these types of cyberattacks can cost your company a lot of money, which is why it’s so important to have cyber risk insurance.

2. Have a Strong Password Policy

While it’s almost impossible to come up with a password that hackers can never crack, having a strong password is a good place for your employees to start. You should include all of the following requirements in your password policy:

  1. Employees must immediately change their password from the default.
  2. Passwords must be changed on a regular basis (for example, every 90 days).
  3. Passwords should be at least 8 characters. They should include a mixture of lowercase and uppercase letters, as well as at least one number and one symbol such as an exclamation mark.
  4. Employees should not use the same password across platforms.

3. Instill in Your Employees the Importance of Device Security

Another way your employees can help keep your business cyber safe is to make sure their devices (such as laptops and phones) are always secure. Train your employees to always lock their devices whenever they are away from them. In addition, have a “clean desk” policy; no papers should ever be left out when an employee is away from their desk.

With more people working remotely these days, make sure your employees know that while you are flexible on where they work, you aren’t flexible about security! They should never use a public Wi-Fi signal (such as one from a coffee shop or library) when connecting to a work network. Employees must also know they can never leave their devices unattended when working in a public setting. 

4. Keep Your Software Up to Date

Cybercriminals are constantly adapting, which means that you and your employees need to do the same! One easy way to do this is to ensure that everyone’s operating systems, as well as antivirus and firewall programs, are always up to date. 

With a small company, you may be able to take care of this manually. If you have a large company, however, have your IT department arrange to automate updates as much as possible. Either way, having current software can help prevent cyberattacks from occurring.

5. Have Ongoing Risk Assessments and a Response Plan

Buying cyber risk insurance and having good cyber risk policies and procedures in place are both good preventive measures. To keep on top of potential risks, though, you need to make sure you assess any potential risks on an ongoing basis.

In addition to keeping on top of threats, you need to have a plan in place of what to do if your company is a victim of a cyberattack. Having a written, detailed plan—that includes important information such as key contacts and instructions on how to respond—will help your company recover more quickly than it would without a plan. 

What can Archway Insurance offer me for cyber risk coverage? 

At Archway Insurance, we’re here to save you time and money. We can work with you to help determine what kind of cyber risk insurance policy is best for your company. We’ll explain to you:

  • Why your company needs cyber risk insurance.
  • What kind of threats that cyber risk insurance can help protect your company from, including liability claims, cyber extortion, hacker damage, lost profits due to a business interruption, and more.
  • Important details you need to know about cyber risk insurance, such as claim limits and what is and isn’t covered.

No matter how careful you are, you can’t always protect yourself from a cyber attack. That’s why cyber risk insurance is so important! Cyber risk insurance helps protect you from financial fallout if your company is the victim of a cyber attack.

Keep Your Business Cyber Safe 

While it’s impossible to guarantee you’ll never get hit with a cyber attack, you can take important preventative actions such as keeping software up to date, having a response plan in place, and ensuring that your employees know how to recognize potential risks, such as phishing.

Cyber risk insurance can help protect you from the damage that a cyber attack can do. At Archway Insurance, we can put together the perfect cyber risk insurance policy for you. Give us a call at 1-833-536-0529 or contact us online to learn more about cyber risk insurance today!

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