Maintaining cyber security is a never-ending process. It is important to keep yourself and your staff informed about common threats and risks, remain vigilant and use common sense at all times.
In September, Equifax was the target of a cyberattack. Can you imagine such a large company getting their data breached? It was indicated by Global News that the hackers had access to the personal information of over 19,000 Canadians. Unfortunately, Equifax’s security team noticed when it was too late.
This story just goes to show that anyone is prone to a breach of their privacy. So now we ask, is your brokerage equipped for the worst?
Always Be Prepared
A lot of the time people think they are unlikely to get hacked because their information isn’t important enough or their business is too small to be a target, but that’s not always the case. In fact, you could be extremely cautious and practice security risk management and still fall victim of a security breach.
A solution that may bring you comfort is to purchase cyber insurance. There is a growing demand for this kind of insurance product. Those that consider the cost to be prohibitive or the risk to be low are the ones most susceptible to be victims of an attack.
Education is Key
Due to the fact that many businesses lack the resources and information on this matter, it’s essential that brokers educate their employees about the aftermath of a cyber attack. It is necessary for companies to train their staff to always believe that there’s a risk and to exercise caution at all times. Educating your employees on phishing emails as well as how to use their devices securely would help reduce the risk of an attack.
It’s crucial for brokers to reiterate the notion that just because you have cyber security, this doesn’t always ensure your data won’t get breached, as seen in the Equifax case. Essentially, a question of if it can ever happen to you shouldn’t cross your mind. You have nothing to lose and everything to gain by enlightening your staff on this subject and getting them set with a well-planned training program that allows them to perform necessary functions successfully.
You can be sure you’ve set up your employees for success through a Cyber Security Training Program when you notice that:
- They are remembering to lock their computers when they’re not at their desks.
- They are creating strong passwords and changing them frequently.
- They report anything fishy they see or hear to the appropriate department.
- They avoid opening any suspicious emails.
You can trust that your Cyber Security Training will not go in vain and it is for the best interest of your entire company. After all, it’s better to be safe than sorry! Also, be sure to keep your system up to date with anti-virus/anti-threat protection, as well as security updates. The multifaceted nature of cyber attacks can be seen as both a risk and opportunity for insurers. How they will develop products that cater to such risks will regulate how protected we will be from potential cyber threats in the future.