According to experts, cyber losses within businesses are increasing due to more information being moved to different forms of internet storage. When you are purchasing or updating your cyber liability policy, it’s important to keep in mind your specific cyber risks. Risks could evolve from any e-commerce activity that your company partakes in, as well as sensitive information that is stored on your network.
Has your business ever had a data security risk assessment performed? This assessment finds the strengths and weaknesses in your systems before a breach occurs. If conducted by an IT professional, it could potentially be used as an “affirmative defense” in the event of a cyber-attack, as it shows that your company did its due diligence to try and protect the information.
The data security risk assessment is just one way to limit cyber liability exposure. Another way is to monitor the usage or block the usage of social media channels among your employees. With the popularity of social media now spreading to companies for business purposes, these companies have opened themselves up to another form of a data breach. According to research, data leakage through social media has become a major concern among small to medium-sized businesses.
While having Cyber Liability Insurance can help your business in the event of an attack, you should also know the best ways to avoid loss. At Tri-State Insurance Agency, we understand the risks you face and have been providing a complete portfolio of New Jersey Business Insurance products for more than 60 years. Please contact us today at 888.990.0526 for more information.