Talk to your insurance broker about cyber insurance

Protecting yourself and your belongings through a cyber insurance policy provided by an insurance broker should always be a priority. More private information and documents are being converted into digital versions and fewer people are using hard copies. Now more than ever, cyber security is vital to all businesses. 

In the current, increasingly connected digital landscape, cybercriminals, or hackers, use sophisticated tools to get access to personal computers, business networks and IT systems. You must stay informed as to what kind of attacks may take place to ensure you are best placed to recognise that you or your network has been infected and the steps you need to take to get rid of it. 

What is a cyber attack?

A cyber attack is an assault on your device to steal your information, spy on you or steal from you. In short, it is a way of saying you got hacked. Through a cyberattack, the hacker can install software on your personal computer to assist them in taking information. Information can be taken on clients, bank accounts, credit cards, addresses, passwords and any other private information you may be storing.

Types of cyber attacks

Many different types of cyber-attacks can be damaging to yourself or your company. Some are more invasive than others, though all have the potential to be extremely damaging to you. Here are some of the most common types of attacks that you should be aware of. 

Malware

The term Malware comes from “malicious software”. Malware is when harmful software is downloaded to your device (possibly without you knowing) to do a multitude of things. This may include, but is not limited to:

Spyware

This can be on your computer with no clear signs of infection and can be used by the cybercriminal to give them visibility on all of your data, what you are doing on your screen, any passwords you enter and who you are corresponding with.

Viruses

Take the form of a piece of code inserted into something. These cannot survive (much like real viruses) without a host. It can take control of apps, and send damaged/ infected files and links to contacts. It then can spread to more devices to take information or infect the device.

Ransomware

This is also known as cyber extortion. Ransomware holds your device ransom and would often ask you to pay said ransom through your bank or cryptocurrency. This would mean you have no access to your device, or any of your files if they choose until they release it. These are often downloaded through email links or attachments, so it is important to be aware of who is sending you a link before you open it, or copy and paste it into your browser instead of pressing it directly from the email. 

Bots

These can infiltrate your device and record activity on your computer, tablet, phone, or camera and screen grab images from your screen. On top of this, it can send emails to your contacts to spread the Malware.

Worms

These are much like viruses but with minds of their own. Worm malware can replicate itself, change or remove files, thieve data, install backdoors for hackers, and create bots that can spread through your device. Worms can do this to multiple computers at once.

Adware

This is the typical old school malware that you may have seen before, on your device or in movies, as it has such an obvious tell. Unwanted pop-ups appear on your screen which is a clear tell-tale sign that something is not as it should be. However this is not the worst part, this software can install spyware and copy, steal and share your data.

Trojans

Disguises itself as an app, file or software. This can be spread through email attachments, downloads or messages. It can remove, change or take information, spy on users, get access to the network and take control of devices.

Phishing

This is the act of contacting someone looking for credit card information or personal details. Often, phishing tactics will involve the hacker seeming to be a trusted and known company. For example, pretending to be your bank asking to confirm details in a text or email. This way a hacker can access your accounts to steal your money, or they can install malware onto your device by downloading it off the app store to sync on your phone.

Man-in-the-middle attack

This is also known as eavesdropping attacks. They happen when a hacker or attacker inserts themselves into a transaction between two people. This can happen over an insecure network such as a video chat or through malware on an already breached device. 

SQL injection

SQL stands for Structured Query Language. It happens when a malicious code (malware) is put into a server that uses SQL and makes the server show things that it would normally keep hidden.

Speak to an Insurance broker about cyber insurance cover

Protect yourself and your belongings through a cyber insurance policy provided by an insurance broker. A good policy is the best protection against these attacks. At LHK Insurance we typically offer protection against data breaches, business and network Interruption, intellectual property rights, damage to third-party Systems, system failure, and cyber extortion. 

We have an experienced insurance broker team who are ready to handle any security problems your company may encounter. This means when it comes to security, you can chill and allow us to arrange a cyber insurance policy that will have you covered. We work with one of the largest cyber insurers who give policyholders access to their App. The benefits of this are two-fold. Firstly, the client can access policy details and notify a claim, which may be useful if computer systems were down, or if they are away from the office when an incident occurs. Secondly, the insurer can send targeted cyber security alerts to clients.

What else can you do?

Be cautious about protecting your information

Always be wary of any emails or texts you receive with links, downloads or if they are asking for information. If you wish to open a link from an unknown source, always copy and paste it into your browser.

Backup Files Regularly 

It’s good to have backup files of important documents in case they get wiped or held for ransom. Important documents can include anything from personal images to business files. 

Always Check The Contact

ALWAYS check where the text/ email/ whatever it is came from. While most places will not contact you out of the blue asking to confirm details if you are unsure check who the sender was. likely, the email will not be a company address, or the number may be from a different country. 

Password security

Use different passwords for everything and DO NOT ever write them down on paper or your phone notes.

How do you remember them? 

Resetting your passwords now and then is a good thing. If you have a selection of a few passwords that you use consistently and repeatedly, and someone hacks into your LinkedIn (for example). They then can try that password on all of your accounts linked and with the same profile images. This means your email, your socials, your Paypal and anything else you are reusing the password for. Use a difficult and different password for every account.

Use Multi-factor Authentication 

If there is an option for you to do multi-factor authentication, always opt-in. To protect against hackers accessing your accounts, this means that if someone is trying to hack into an account they need access to your phone number or email. 

Sometimes it seems like an extra effort when it comes to codes being sent to your phone or email. Or you get a verification notification but you left your phone in the other room or it’s out of battery so you can’t log on. However, using multi-factor authentication is definitely worth the hassle. 

Have you ever gotten a notification saying your account has been logged into a country in the middle of south-east Asia? Thanks to multi-factor authentication that scary feeling is easily remedied as you can tell your server that it is not you trying to log on. 

Summary

Covid forced many businesses to rapidly transition to virtual working and online transactions. This leaves us increasingly vulnerable. Generally, privacy has become a thing of the past and sometimes it’s easy to forget that some things should still be kept that way. Identity theft, identity fraud, credit card information being stolen, sensitive information being accessed, held hostage or stolen, electronics being rendered useless, webcams being hacked, screens being recorded.

All of these things could be detrimental to yourself and your business. No precaution is too far when it comes to protecting your personal information or your sensitive work information. Protecting yourself and your belongings through a cyber insurance policy provided by an insurance broker should always be a priority.

If you or your company require a cyber insurance policy, get a quote today from our Insurance brokers, Ireland.

In addition to the Cyber Cover, our experienced team can arrange cover for you across the following products: Home insurance, Car insurance, Gadget insurance, Marine insurance, Personal accident insurance, Self-build insurance, Travel insurance, Commercial legal expenses, Commercial liability insurance, Commercial motor insurance, Commercial property insurance, Contractors all risk insurance, Credit insurance, Directors and officers insurance, Engineering insurance, Farm insurance, Group personal accident insurance, Marine cargo/ goods in transit insurance, Motor fleet insurance, Motor traders insurance, Office insurance, Professional indemnity insurance, Shop and retail insurance and Special types vehicles insurance.