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How Important is Cyber Liability Insurance to Your Business?

How Important is Cyber Liability Insurance to Your Business?

Jul 05, 2016

Commercial Insurance

Your online dealings should be protected by cyber liability insurance in Hudson, NY.

During this digital age, the way that we communicate and conduct business has changed. Over the last decade, more and more businesses are gaining an online presence, storing data online, and finding the Internet critical for daily business. This is where cyber liability insurance comes in handy. It is essential, however, to note that although our business ' digital systems have progressed, so have hackers '. The U.K. government warned that businesses should take active steps to protect online data €“ and we can learn a lot from our friends across the pond. The Risk If your business stores data online (and what business doesn 't?), be aware that hackers can infiltrate even the most complex security systems to access this sensitive information like employees ' Social Security Numbers, and vendor details. If all of this was leaked online or abused, could your company recover from the losses? Simply put, most businesses could not survive without employees or a ruined reputation. Safeguard & Secure Not all of your security systems have to be a walk in the park for hackers. Here are some top tips to safeguard your online data:
  • Train employees how to look for phishing emails or viruses through online entry points.
  • Encourage your staff to change their passwords every month.
  • Avoid using passwords that can be predicted (Password1234 isn 't fooling anyone).
  • Out for the day? Don 't use the public Wi-Fi and then access your sensitive files. Hackers can enter your files through the use of free Wi-Fi.
  • Limit the number of people who can access vendor and employee info.
  • Secure your cyber liability insurance.
Cyber liability insurance is a safety net that your business can fall back on, should it suffer from a hacking or a leak. For more information on how this insurance in Hudson can safeguard your business, contact the experts at Lofgren Agency in New York who can guide you through the process.
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