Cyber Insurance for Remote Business
The Coronavirus pandemic has brought with it an increase of employees working from home. With technology today, it has been an easy transition for business owners to provide their employees a laptop and cell phone, making them a fully functional work-at-home employee. They can access company documents, software and websites from the comfort of their makeshift home offices. This convenience comes at a cost when cyber criminals gain access to private data. Many times these remote offices, or home networks, do not have the proper firewalls and security, and because of this, cyber crime is on the increase. We encourage our business clients to look into setting up home offices with Virtual Private Networks (VPNs), firewalls, and two factor authentication. We are also recommending that businesses purchase cyber insurance coverage.
Cyber Insurance policies are built to protect both first party losses (your own business losses from a cyber attack) and third-party losses (losses your clients sustain from a cyber attack caused by a breach in your technology). This covers costs like notification expenses, when personal information is taken from your server, loss of business expense, and even the payment of ransom in order to retrieve stolen data.
If you are a business owner, and have employees working remotely, we recommend giving us a call to discuss Cyber Insurance policies. We have many years of experience in cyber insurance and have access to many different specialty cyber products.