10 Tips for Preventing a Cyber Security Attack

10 Tips for Preventing a Cyber Security Attack

News of another huge cyber attack fill the headlines frequently these days. It seems more and more another huge corporation is hit with huge ransoms and halted business. But if you think that only large corporations can be faced with a cyber security attack – think again.

In fact, small and medium sized businesses are generally an easier target for hackers because of their “lack of resources and security expertise” according to Forbes. 43% of cyber attacks are aimed at small businesses, but only 14% are actually equipped to defend themselves. Don’t let this happen to you and the business you have worked so hard to build.

We’ve got 10 ways to protect your business from cyber attacks:

1. Utilize password protection programs and password generators.
2. Discourage employees from using work computers for anything but work. Not only does it affect their productivity, using a work computer for personal reasons opens you up to bigger risk.
3. Take an inventory of your data. How do you keep your data, how long do you keep it and where do you store it?
4. Talk about cyber security with your employees often. Train them to recognize a malicious link and frequently remind them to never click on a link that looks suspicious. 
5. Insist that employees use Multifactor Authentication for any programs that require a username and password. Provide them the instructions on how to do so.
6. Make sure your data is segmented by department. Ask yourself, “Why would someone in Marketing need access to Accounting data?”
7. Install patches once they are available. This means performing system updates immediately once you are notified that one is needed. These patches fix security and performance of the program you are using. 
8. Have a plan in place if a ransomware attack occurs – and make sure your entire team knows what the plan is. Here are some tips from AMTrust for creating a plan.
9. Ensure you have a backup system in place.
10. GET CYBER LIABILITY INSURANCE!

Cyber Liability Insurance is no longer a luxury for small businesses – it’s a necessity. 

Here’s a scary statistic: Every 14 seconds a small business is hacked. 

Ransomware attacks have grown over 97% over the last two years. Most often, ransomware ends up on a computer by clicking on a link in a spam email or a compromised website. Did you know that having a cyber insurance policy can pay the ransom if this happens to you? In fact, they can also set up backups, pay your lost business income and more.

A cyber security breach is EXPENSIVE.

$879,582 = Average cost to a business after a data breach to to damage or theft

$955,429 = Additional average cost after a data breach due to lost business

The threat of a cyber security attack is real and the results on a small business can be incredibly damaging. By taking these steps and securing cyber liability insurance, your risk is greatly reduced.

Our team of insurance experts are ready to help protect all aspects of your business. Give us a call or start your complimentary business proposal here.

A little more about Holley Insurance…

Holley Insurance was founded in 2000, and retains a core base of loyal clients. We have locations in Roanoke, Rocky Mount, and Forest, VA. As an independent insurance agency, Holley Insurance represents a carefully selected group of financially strong, reputable insurance companies. Therefore, we are able to offer you the best coverage at the most competitive price. Holley Insurance was named “Top Insurance Broker in Southwest Virginia” by Virginia Living Magazine for 2021. If you’re interested in starting a quote online or having us take a look at your current policies, click here!