IT Security Update. Stay safe in 2020
We understand how the online security of your business is a top priority.
We often hear in the news of only how the large corporations have had their security breached but did you know that 58% of cyber attacks target smaller businesses?
At Real Insurance, we take the online security very seriously.
Here are some steps that you can take to ensure your business is best protected:
- The best way to secure against a cyber attack is to prevent malware entering the business in the first place by installing anti-virus, web filtering and firewalls. Do ensure that updates are kept up-to-date!
- Keep software updates updated! – Malware can find a way to enter a system via bugs in software and applications.
- It’s essential to keep reminding employees of these potential cyber threats and it’s worth ensuring employees receive regular training to remind them of potential hazards. Emails incorporating malicious links still create issues for many businesses, so ask the question – is it really the CEO emailing? – Does it look like a trusted source?
- You should only click on emails that you are sure came from a trusted source. Emails claiming to be from well known, reputable organisations. These may have email ‘from’ addresses that differ very slightly from the official address – i.e. a 0 replacing O. Emails may have been sent by one of your contacts, whose own account has been hacked. These can often be identified as they contain a short nonsensical message.
- Formalise security policies. Implement formal protection policies and processes, and work with an IT partner to roll out these policies on every machine, to provide as much protection as possible for each individual user.
- Create a password policy. The more robust a password, the harder it is for cybercriminals to crack. If you use the same passwords on several accounts, and you are prone to an attack, fraudsters will be able to use the captured email and password combination on many different sites and gain access. You can use the site haveibeenpwned.com to check whether your email has been breached elsewhere on the internet. If your email has been breached on any site listed, change that password as soon as you can.
Microsoft announces end of support for Window 7 and Office 2010
The majority of Microsoft products have a support lifecycle during which Microsoft provides fixes for bugs and security issues. Microsoft will discontinue support for Windows 7 and Office 2010, and not provide updates, bug and security fixes from:
Windows 7 – 14 January 2020
Office 2010 – 13 October 2020
It is important to check with your IT provider about upgrading software if you run either of these products.
Cyber attacks are invisible – you usually don’t know it’s happened until it has and then it’s too late.
If your business does not have cyber liability cover then you are potentially exposed to huge financial losses that can be incurred when digital assets come under attack. This can lead to costs from handling a data breach, lost revenue, a damaged reputation, and legal and regulatory costs, not to mention business disruption.
Cyber risk is an exposure that no modern business can escape. As a relatively new type of insurance, organisations can often have misconceptions and reservations about the cover provided. Cyber insurance solutions are available for all size of businesses.
“The average cost of a cyber-security breach is £600k-£1.15m for large businesses and £65k-115k for SMEs.”
Association of British Insurers
With more and more cyber attacks, many companies find themselves confused about how cyber insurance actually works and are sceptical about whether it makes sense for their business to purchase a policy.
For more information about the different cyber insurance covers available please click here or contact a Real Insurance specialist on 0330 058 0260.