Technology Insurance Policies and Other Ways to Stay Safe from Hackers

Contrary to popular belief, small and mid-sized businesses (SMBs) are actually common hacking targets. An article from USA Today explains further:

The costs associated with computer and website attacks can run well into the thousands and even millions of dollars for a small company. Many small businesses have been attacked — 44%, according to a 2013 survey by the National Small Business Association, an advocacy group. Those companies had costs averaging $8,700.

Many businesses are ignorant of risks they face or possible solutions, says Jeff Foresman, a consultant with Rook Security, an Indianapolis-based computer security company. They may not realize an attack can happen from a seemingly harmless source. For example, a perfectly normal-looking email from a friend’s computer that was attacked without the owner’s knowledge could lead to trouble.

“They don’t know what they don’t know. They don’t understand the sophistication of these attacks,” Foresman says.

Unfortunately—and rather ironically—surveys show that among the businesses most unprepared for cyber-attacks are tech businesses. This is obviously problematic as the medium used by hackers are the bread and butter of IT businesses. Fortunately, there are several steps IT firms can do to protect themselves from being caught unprepared by a hacker. Some of these steps include:

Technology Insurance

Take note that your typical liability coverage will not cover the costs associated with cyber-attacks or malware/viruses. For this, you’ll need to purchase a comprehensive technology insurance policy for your business. This should financially protect your business in the event of a data breach and the like.

Needless to say, you should purchase technology insurance for small business owners from respected agencies like InsureYourCompany.com. Similarly, you should make sure that the insurance policy you purchase provides coverage for the most common risks your business faces.

Take a Break

Unless you offer emergency IT services, you should give your system a break every now and then by turning them off. Don’t forget that the longer a computer is on and connected to the Internet, the more time a hacker has to infiltrate it. At the same time, giving your system a rest also helps prolong its lifespan.

Review Your Security Measures

As your business and services evolve, so should your security measures. In fact, experts advise that SMBs have their security measures undergo a mock attack once every year.

(Source: Hacking a big danger for small businesses; USA Today; October 12, 2014)