What does cyber insurance typically cover? Cyber insurance is a must-have to protect your business against the risk of cyber events and loss, compromise, or theft of electronic data. And, not just that, some of your clients may insist that you have cyber insurance coverage before they trust you with their data--especially if you are operating in the B2B market. Cyber insurance can break the fall in case you become the victim of a cyber attack or some gross malfunction that causes data loss. Here’s a list of things cyber insurance policies typically cover. Forensic analysis After a cybersecurity attack, you need to conduct a root cause analysis to identify what went wrong and where, so you can take corrective action to prevent the possibility of it repeating. Notification expenses, penalties & lawsuits Along with data breaches come a lot of liabilities including timely notification, fines, penalties, and perhaps even lawsuits for which you will need legal representation. Revenue los...

Why does your business need cyber insurance? The WFH model makes businesses much more vulnerable and easy targets for cybercriminals. Some of the reasons include A lot of people accessing their work data from home networks, which lacks high-level security The inability of businesses to monitor the work-related IT activities of their staff and, The use of personal devices by employees for work purposes Businesses can overcome this challenge through a combination of tools and actions such as Installing anti-malware software Putting in firewalls to safeguard their work network Having clear and effective IT policies in place when operations are remote Providing staff with laptops or desktops to use for work purposes during the WFH phase Training employees to identify cyber threats and steer clear of them Educating employees on password hygiene and cybersecurity best practices However, these measures are no guarantee that nothing will ever go wrong! When you lose data accidentally or, when ...

WFH means more vulnerability to cybercrime. Here are some methods to stay safe WFH opens up whole new horizons in terms of flexibility, productivity, and cost savings. But, it also opens your business up a little more to cybercriminals, as you can’t have a hands-on approach to cybersecurity, especially if your employees are using their own devices for work. This blog discusses some mechanisms that you can use to mitigate the risks of becoming a victim of cybercrime in the WFH setup. Multi-factor authentication Instead of using a single password for data access, multi-factor authentication adds more layers to security. If WFH has your employees accessing their work computers remotely, then you simply cannot skip multifactor authentication. Multi-factor authentication works by confirming the identity of the user across 3 areas What they know: Examples include asking for User IDs, passwords, answers to ‘secret questions’, verification of their date of birth, etc. What they have: This incl...

Data security in a WFH setup Do you have staff working from home? With the pandemic still around, the answer to that question is most likely a “Yes”. And, that makes sense too, why risk the safety of your staff when you can operate equally well or even better with them working from the safety of their homes. But, did you know that the WFH model can put your data at risk? When you have your employees work remotely, inadvertently your data is more vulnerable to cybercrimes. However, there are solutions that help ensure the WFH environment is safe--for both your employees and your data. Let’s take a look at 2 of the most recommended ones. Anti-malware tools Any discussion about data security has to start with anti-malware applications. These applications keep your computers safe from viruses, worms, adware, and other malware. When your employees are working remotely, they are most likely to use their own devices such as their laptops or the desktop computers at their home. Plus, with the ...

The challenges in establishing data security best practices in a WFH environment The COVID-19 pandemic changed the landscape of the corporate world drastically by making WFH, mainstream. What does that mean for your business data? How does it change your business’s cyber risk profile? Download our whitepaper, The WFH environment & associated data risks, a new perspective, to find out. Restrictions on installing firewalls, antivirus, system/software updates, and security patches When your employees are in the office physically and using your computers, you can install firewalls and access control mechanisms. For example, you can block non-work-related sites or sites with 3rd party cookies, or set up password policies for them to follow when using the device, etc. But, if they are working from home, and using their own devices, there’s no way you can install firewalls or have access restrictions like that in place at the system level. Similarly, you can ensure your work computers a...