Tag Archives: cyber liability

Cyber Liability Insurance – Security and Privacy Liability Coverage

This entry is part of 20 in the series Data Security

If your business suffers a data breach, you may see yourself as the victim. But there could be a different perspective for customers or employees whose data has been compromised. They may view you, the business owner, as responsible for not properly safeguarding their confidential information. Would your business be prepared for the related lawsuits? (more…)

Common Data Threats and Vulnerabilities

This entry is part 1 of 20 in the series Data Security

When it comes to data security, a threat is any potential danger to information or systems. Threats could be an intruder network through a port on the firewall, a process accessing data in a way that violates the security policy, a tornado wiping out a facility, or an employee making an unintentional mistake that could expose confidential information or destroy a file’s integrity.

It’s critical for every business to understand their risk. An important step in data security is to identify potential threats, classify them by category, and evaluate the damage potential to the company. Use this checklist to understand common data threats and assess how they may affect your business: (more…)

What Your Business Needs to Know About Ransomware and Cyber Extortion

This entry is part 19 of 20 in the series Data Security

Did you know that ransomware attacks are now one of the most popular cyberattacks, surpassing hacking and physical theft in cyber claims activity? The FBI estimated ransomware to be a $1 billion crime in 2016 and research reported that 42% of small and medium-sized businesses were hit by ransomware attacks.

What is Ransomware?

(more…)

PCI DSS Compliance and Cyber Liability Insurance

This entry is part 2 of 20 in the series Data Security

Did you know that businesses are required to implement a set of security standards to protect credit card data?

Did you also know that banks and credit card companies can impose fines and penalties on your business if you fail to maintain these requirements? (more…)

Cyber Liability Insurance – Privacy Breach Response Coverage (Video)

This entry is part 3 of 20 in the series Data Security

A privacy breach that exposes sensitive customer information can be high-impact for all businesses. But it can be especially devastating for a small business, causing significant financial strain and irreparable harm to your reputation. So, what are the odds of a breach happening at your business? (more…)

Upgrade Your Internet Security: Risky Cyber Behaviors to Avoid

This entry is part 4 of 20 in the series Data Security

Every business has an expectation to protect sensitive information, and every employee plays a key role in preventing cybersecurity incidents.

Below are five of the most common data security mistakes leading to data breaches. Employees should halt these practices immediately to reduce the likelihood of a breach.

(more…)

Password Security Tips

This entry is part 5 of 20 in the series Data Security

A recent study analyzed 10 million passwords leaked in various data breaches throughout 2016. The most common password, once again, is ‘123456.’ A whopping 17% of users trust ‘123456’ to safeguard their online accounts! The study also found that four of the top 10 most common passwords were six characters or less. Brute-forcing techniques will have those passwords cracked in seconds.

Don’t fall into this trap. If your passwords are common and easy for you to remember, they’re likely to be easy for hackers as well. Use these password tips to keep your data secure. (more…)

8 Tips to Prevent Data Breach (2/4)

This entry is part 7 of 20 in the series Data Security

Data breach is the exposure of sensitive customer information due to hacking, theft or the accidental release of data. Business owners are expected to be custodians of customer information and have a reasonable expectation to protect their customers’ data. A data breach is impactful for all businesses, but it can be devastating for a small business without the resources of a larger corporation. In this four-part blog series, we share what business owners need to know to diminish the possibility of a data breach and its destructive impact if one is experienced.

Data breach is the exposure of customer information, and should not be confused with identity theft – which is when thieves target individuals to obtain credit card and financial information – or cyber liability, which refers to the individual targeting of businesses to steal their financial information via hacking.

Preventing data breach is equal parts common sense and technical knowledge. It’s important to take a balanced approach because neither avenue alone can address all issues. Consider these tips: (more…)