Tips to Protect Your Business – Cyber Risks

Posted in General, Insurance Tips, Commercial Insurance

In part three of a three part series focusing on how to protect your business from risks, we are providing you with tips to protect your business from cyber risks - meaning any hazards that could cause a privacy/cyber breach.

Recently, cyber risk has become a bit of a hot topic. Youngs Insurance provides tips to Protect Your Business from cyber risksAs we mentioned in one of our past blogs, considering the digital age we are living in, the potential risk of your business having a cyber breach is likely.

The best way to avoid a cyber risk is to have a plan of action to negate that risk. Remember, situations can arise, however, the goal is to minimize any potential risks, which you can do by utilizing the tips we have provided you below.

Tips to Avoid Cyber Risks

Where to start

  1. ALL sensitive/private information should be secured and away from unauthorized persons (practice “clean desk” policies).
  2. Sensitive/private data must be kept in a secured (locked up) location.
  3. Data should only be available to those on a “need to know” basis.
  4. Have security systems in place and a visitor log.
  5. Regularly review data practices, if changes are made retrain staff and maintain detailed log on reviews and updates.

Reviewing Procedures

  1. Check that all procedures and policies for protecting data are randomly audited.
  2. When dealing with sensitive information remotely, be sure to use a secure network and limit portable technology usage.
  3. DO NOT use unsecured wireless networks – they will not protect your data.
  4. Ensure you utilize anti-spyware, firewalls and antivirus systems and always install their updates.
  5. If outside contractors or vendors have access to any of your company data, review to see if access if necessary.
  6. All sensitive data must be disposed of properly; ensuring anything containing personal information is destroyed.

The tips provided above have been adapted from Intact Insurance.

Protecting your business from cyber risks is something you should seriously consider. There are many options available to you depending on your need, for example cyber liability insurance or cyber expense insurance. If you would like more information on cyber risk insurance, please contact us today!

More About Youngs Insurance 


>> Part 1: Tips to Protect Your Business – Inside Risks
>> Part 2: Tips to Protect Your Business – Outside Risks

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