What Is a Cybersecurity Plan Without Cybersecurity Insurance?

The terms cyber hack, cyber espionage and cyber breach are three big-ticket buzzwords you have probably been hearing about a lot for the last several months. News has been swirling around Russian hacking in the presidential election, and now it has been recently learned that the ransomware attack WannaCry was likely backed by North Korea.

There is much happening in the world, and one thing to take from it is the importance of cybersecurity.

As a small business owner, you might assume that a cyber crook would have no interest in stealing (or destroying) your organization's data, this is sadly untrue. Even if you believe your network is well-protected and your cybersecurity practices are up to par, a cybersecurity plan without cybersecurity insurance is wanting.

Feeling a little nervous that your cybersecurity plan isn't as sound as it ought to be? Here's an example of what your cybersecurity plan should look like, and remember: get cybersecurity insurance with CyberPolicy!

Your Business, Your Security
In an interview with Forbes Magazine, SnoopWall Inc. founder Gary S. Miliefsky said that "cyber criminals don't discriminate. In fact, cyber criminals find SMBs easier targets because their defenses are often not as advanced as those of larger businesses." This is true. 43 percent of all cyberattacks target small businesses. Small businesses are notorious for not having the cybersecurity defenses they need to keep cybercriminals out of their data.

On top of having cyber insurance to protect your business when a cybercriminal breaks in to your system, what else should you do/have?

Here's your cybersecurity 4-1-1:

-Train your staff. According to Dark Reading, 66 percent of survey respondents said that their company's network data was breached due to the negligence or malicious intent of an employee. If your employees don't have a general grasp on what a phishing email is or how to recognize a phony download, your business is at risk of a cybersecurity breach.

Offer cybersecurity training 2-3 times a year to keep your staff informed and your business safe. For cybersecurity training tools and methods, check out StaySafeOnline.org.

-Encrypt your data. Kaspersky Lab reports that there are multiple benefits to using encryption, the biggest being that it protects your data absolutely: "If, for example, a file is encrypted with 256-bit AES, it would take a hacker more than a lifetime to crack the code using the brute-force method. Even the hacker's grandchildren wouldn't live long enough to successfully decode the information."

-Use passphrases. Do any of your passwords contain the numbers 1, 2, 3, or 4? If so, a cybercriminal has probably already cracked the code. Keeper Security released a list detailing the 10 most common passwords created by users. Passwords "123456" or "Password" were two of the top ten. Using a one-word, common password is as good as whispering your password into the hacker's ear.

Instead of using one word to protect your files, use a sentence. Passphrases are significantly harder to crack and easier to remember. "GrandmaMakesGreatApplePie" (don't use this passphrase, it's out there on the internet now) or some other such passphrase will be unique to you alone.

Your SMB's cybersecurity is Cyber Policy's top priority. Sign-up for your cybersecurity insurance package today with Cyber Policy.

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