Cyber Liability Insurance
Privacy and Cyber Security
With cyber criminals becoming more and more sophisticated in techniques to access sensitive data, the need to protect businesses’ private information is growing. It is the responsibility of business owners to prioritize cyber security and create a cyber-secure environment for their clients. Failing to do so can lead to costly consequences in the form of a data breach. Security breaches can be costly, not just financially but also damage the reputation of your organisation.
Know the Risks
It is essential for businesses to gain an understanding of cyber risks. By doing so, companies will be well-equipped to prevent cybercrimes and help keep their clients’ data safe and secure.
The first step in protecting your business is to recognize basic types of risk:
- Hackers, attackers and intruders—These terms are applied to people who seek to exploit weaknesses in software and computer systems for their personal gain. Although their intentions are sometimes benign, their actions are typically in violation of the intended use of the systems that they are exploiting. The results of this cyber risk can range from minimal mischief (creating a virus with no negative impact) to malicious activity (stealing or altering a client’s information).
Malicious code—This is the term used to describe any code in any part of a software system or script that is intended to cause undesired effects, security breaches or damage to a system.
- Viruses: This type of code requires that you actually do something before it infects your system, such as open an email attachment or go to a particular Web page.
- Worms: This code propagates systems without user interventions. They typically start by exploiting a software flaw. Then, once the victim’s computer is infected, the worm will attempt to find and infect other computers.
- Trojan horses: Trojans hide in otherwise harmless programs on a computer, and much like the Greek story, release themselves when you’re not expecting it and cause a lot of damage.
Protection is our Business
Your clients expect you to take proper care of their sensitive information. You can never see a data breach coming, but you can always plan for a potential breach. Contact CoyleKiley Insurance Agency, Inc. today—we have the tools necessary to ensure you have the proper coverage to protect your company against a data breach.