Your Top 5 Cyber Liability Exposures
Cybersecurity plays a vital role in the well-being of your business. Without taking the proper precautions to limit the potential for cyber attacks, your business could wind up facing some pretty catastrophic losses. In order to ensure that your business is properly protected, familiarize yourself with these 5 common cyber liability exposures.
Mobile Devices
Mobile devices include cell phones, laptops, notebooks, and other portable devices. Think about how many times you’ve accidentally misplaced your cell phone. A recent survey from Symantec found that 65% of all small businesses reported the loss of at least 1 mobile device within the past year. From bank information to private databases, the information carried on a mobile device isn’t something you want falling into the wrong hands.
Rogue Employees
No matter how many screenings or background checks you do, you can never fully know a person. Your business’ greatest potential threat is your own employees. All it takes is one disgruntled employee to destroy or disable programs, disrupt service, steal valuable client information, or disclose confidential information to competitors to wipe out your business.
Unauthorized Access
Compromised user ID’s and passwords, unaware users, email schemes, and encrypted data on laptops can result in the compromise of sensitive information. This not only includes bank and other classified financial information but also personal confidential information of your employees and customers.
‘Hacktivism’
Hacktivism is a new term used to describe individuals who hack businesses as a means of social activism. Things like malicious spyware, software, spamming, phishing, and pharming are seen as hacktivism acts, and are often unforeseeable because they’re random in nature.
Negligence
Every business owner knows that you never want to have to deal with the term ‘negligence.’ Claims involving negligence are the largest source of claims against businesses to date. In regards to cyber liability, negligence refers to things such as improper disposal of sensitive or confidential information, password sharing, and lack of control in your possession.
Navigating the world of cybersecurity can be frightening, especially since you don’t even have to be on the internet or using a computer system to be susceptible to a loss. The easiest way to protect your business against cyber attacks is with cyber liability insurance.
At Snellings Walters, we care about getting your business the cyber liability insurance it needs. We’d love to work with you to help decrease your cyber liability risks. Reach out to us here, or give us a call! 770-637-1734