As employees continue to work remotely and spend a lot of time online, it may come as no surprise that cyberattacks continue to worse as the pandemic continues. Increased cyber losses mean businesses have a lot to learn when it comes to protecting their data and need to be proactive in understanding the financial impact a cyberattack can have.
A cyberattack can happen anywhere and to any business, even with firewalls and other security features in place. Cyber security is about more than just installing software and thinking your business is protected because of it.
Social engineering, phishing scams and other tactics exploit employees and associates into making a business’ network, data and privacy vulnerable.This happens through emails that looks like it contains pertinent information that also encourage people to click on a link, which in turn makes them network susceptible to viruses and malware.
In addition to training and software, the right insurance protection can also help reduce the loss related to cyberattacks.
Victor Insurance Holdings created this informative video that explains why a cyber liability policy is important when it comes to evaluating your cyber risk:
Your cyber liability insurance policy can be tailored to fit your unique situation and can be written to include the costs of disclosure after a data breach. Contact OTC Insurance to learn more about cyber liability insurance and how you can protect your business from a data breach.