An Update on Cyber Threats

Cyber security and cyber crime have been around for a while, but these risks increased during COVID with so many more people and businesses operating remotely.

 In the insurance industry, we’ve seen more hacked networks, businesses interrupted because of hacking, and ransomware incidents in the past couple years.

 If your business uses any type of technology platform, you should be aware of the risks of these platforms. Berkshire Hathaway Guard recently put out a fact sheet about some cyber security controls you can put in place as a first step toward better cyber protection.

 Here’s what they suggest pursuing:

• Education, awareness, training, and testing; people are always the first line of defense against cyber attacks)

• Multi-factor authentication that requires at least two pieces of identification for user access to company systems

• Email filtering to identify and block malicious emails and attachments

• Web security to block access to potentially dangerous sites

• Privileges that allow/restrict levels of system access based on job roles and responsibilities

• Vendor and digital supply chain access portals

• Secured, encrypted, and tested back ups for effective recovery of breached data

• Continuous monitoring software to help analyze network vulnerabilities

• Cyber incident response planning and testing

See the full fact sheet.

If you have questions about cyber insurance, feel free to reach out!