9 Ways to Protect Your Business Against Cyber Attacks
The internet has changed the way businesses operate for the better – but it’s also introduced numerous opportunities for cyber criminals.
A cyber-attack can be swift and bring a business to its knees, but at Insurance Web, we believe being prepared is far better than having to seek rectifications or financial reimbursements.
That’s why the team at Insurance Web has put together this blog outlining 9 ways to protect your business against cyber-attacks.
This might sound a little contradictory coming from us, but we believe insurance is the least effective way to manage the increased risks associated to computer systems and the internet.
It’s still important to have cyber insurance in place – it just cannot be treated as your only line of defence. To discuss your individual cyber liability insurance needs with our qualified brokers representatives, please reach out to us today here.
9 Ways to Protect Your Business Against Cyber Attacks
Cyber criminals are cunning and will exploit any weaknesses they find. But there are lots of practical ways to protect your business and prevent them from gaining unauthorised access to your networks.
1. Secure your devices and network
Securing your devices and network – including Wi-Fi – is paramount when it comes to keep threats out.
- Firewalls can act as a gatekeeper and offer protection for your business’s internal networks.
- Spam filters helps to reduce the chance of employees opening spam or phishing email by accident.
- Secure your Wi-FI. While wired networks are more secure, if you need Wi-Fi, turn it off when you’re not using it, enable encryption and set up a firewall.
Another way to secure your network and devices is to allow automatic software updates to take place.
This is because these upgrades often contain security improvements to protect against recent virus or attacks. Read more about this at point three.
2. Educating staff to be safe online
A huge percentage of cyber-attacks can be prevented if you and your employees know what to look for.
Ensure your team is educated about potential threats, and keep the following in mind:
- Strange password activity
- Slower than normal network speeds
- Pop-ups on other sites
- Phishing – links in suspicious emails where once clicked, hackers can download malware onto your computer giving them access.
3. Keep software up to date
Have you been alerted to a software update? Next time you see one appear, hit download instead of scheduling the reminder for tomorrow.
Why? Well, the provider may have come across an issue and the update may be vital for security.
Read more about why you should update your devices here.
4. Back up your data
If you lost your data, could you continue to operate? It’s so important to make digital copies of information that’s stored on your devices.
Those who back up their data will be better placed to recover any information lost as a result of computer issues or a cyber-attack. The government recommends using multiple back-up methods to ensure the safety of your files.
5. Implement Cyber Security Policies to guide staff
A cyber security policy offers clear guidance to staff so they understand their responsibilities when it comes to data, emails, internet access and sites and computers or devices.
6. Passwords/passphrases
The Australian Government says people should use passphrases rather than passwords.
What’s the difference? Passphrases include a number of words or a phrase – and therefore tend to be more complex than a simple password.
Using a phrase over a traditional password (aka 1234567 or abc123) will make it much harder for machines to access your personal accounts and information.
The recommendations for passphrases are as follows:
- Make them complex – use combination of upper and lower case letters, numbers and special characters.
- Make them long – Include at least 14 characters of 4 or more random words together.
- Make them unique – As tempting as it can be to use the same phrase over and over, it’s definitely not recommended.
- Make them unpredictable – A random collection of words is probably going to be harder to crack than a sentence.
7. Multi-factor authentication
Implementing multi-factor authentication (MFA) adds additional layers of security, as it requires two or more proofs of your identity to be supplied before access to an account is granted.
The Australian Cyber Security Centre has step-by-step guides for setting up multi-factor authentication for a range of social media platforms and email accounts, including LinkedIn, Facebook, Twitter, Gmail, Microsoft, and Yahoo! Click here to view them.
8. Business continuity plan
A business continuity plan can set out the procedure preparing for and navigating cyber security incidents or other crises and their aftermath.
Insurance Web can also help you with business continuity insurance. Find out more here.
9. Cyber security insurance
Cyber liability insurance can help to recoup some losses in the event of a cyber security breach.
Generally speaking, it can include things like:
- Privacy breach notification costs
- Incident response
- Business interruption loss
- Forensic support
- Legal support
- Cyber extortion costs
Click here to request a quote for cyber liability insurance or give our qualified brokers a call on 1300 956 236 to discuss your insurance needs today.
Insurance Web is your local insurance experts. Known for our simple processes, cost-efficiency and trustworthy staff, we’ll help you get the right business insurance cover so you can trade confidently and securely right now!
Do you need to update your insurance program or looking to launch a new business? Call Insurance Web today, or submit an online enquiry here.
