Cyber-attacks are estimated to cost the United States’ economy billions of dollars every year. That is primarily because hackers are becoming more sophisticated in the ways they obtain information. Despite these alarming updates, most business owners have not adequately prepared for cyber-attacks. As National Cybersecurity Awareness Month winds down, The Insurance Center would like to share a few simple tips that can help businesses protect the families, consumers, and employees they work with regularly.
“There is a widespread assumption that cybersecurity should be left to the experts, but that could not be farther from the truth,” said Robert J. Sammon, President of The Insurance Center. “Businesses from every industry are in possession of valuable information that could be used against employees or consumers, and no type of business is off the table for hackers. Given the financial implications of this type of threat, insurance has played an important role in mitigating significant losses in recent years.”
Sammon says that while cyber liability insurance can help businesses stay afloat, sharing prevention tips can help save families from the financial ordeal of identity theft. Here are some ways to shield personal information from unscrupulous individuals.
Create Strong Passwords
Employers and employers should ensure passwords used for various accounts are unique and nearly impossible to guess.
Tell Employees About Common Red Flags
Phishing messages can appear to come from co-workers or people you know. Employees can help protect businesses if they are told to pay close attention to details such as checking for correct spelling of emails or text within messages.
Share News of Cyber Threats
Employers can protect important data by creating a system for employees to share when they receive a convincing phishing message. This will help other employees from compromising valuable information.
Create a Buddy System
If employees are skeptical of a coworker’s messages, employees can avoid falling victim to a phishing scam by verbally confirming the authenticity of the message with the sender.
Don’t Leave Private Information out in the Open
Information such as social security numbers should only be seen by a handful of people with a track record of trustworthiness. SSN numbers combined with a correct name and a birthday can be used to steal someone’s identity and place them in financial hardship for many years.
Consider Purchasing Cyber Insurance
Telling consumers about a cyber breach and dealing with the legal implications can take significant resources away from any business. Cyber insurance can help businesses with the cost of legal fees, alerting consumers of a breach, and may even help affected individuals restore their identity.
The Insurance Center works with several insurance providers to ensure policyholders are paying the best value for comprehensive coverage. Call us at 603.542.2551 to learn how we can help you protect what matters most.