Every business is at risk for a cyber breach. Even the White House has experienced a cyber breach. Cyber breaches are now a fact of life, and every state now has mandatory requirements for data breach notification. Statistics show 41% of all cyber incidents affect businesses with fewer than 100 employees. If you store data, including private information on computers, use e-mail, generate revenue online, or use your computer to control production, manufacturing, or inventory, your company is at risk!
Best Practices For Cyber Risk
While cyber liability insurance should be considered by every business, in addition, we also recommend specific procedures and defensive programs to limit or reduce your risk.
- Make sure you comply with all state and federal laws
- Have a written cyber breach policy
- Follow all HIPAA laws
- Hire an IT Director, or make one person responsible for network security
- Focus on using long passwords (longer than 13 characters) and change frequently
- Develop notification procedures
- Do not open emails or open attachments from email addresses you do not recognize
- Train employees on the use of laptops and out of office access
- Invest in the latest anti cyber software
Most businesses large and small now purchase cyber liability insurance which is designed to cover the costs of investigations, notification, and credit monitoring for affected individuals, regulatory compliance, defending lawsuits, and payment of any resulting judgments or settlements. The level of coverage your business needs is based on your individual operations and can vary depending on your range of exposure.
TWFG Khan Insurance Services-713-388-6681 is committed to providing clients with the highest quality insurance plans available combined with some of the lowest possible rates. Whether you are shopping for auto insurance, home insurance, life or business insurance, we can help you obtain the best coverage available with the lowest rate possible.
All of us at TWFG Khan Insurance Services-713-388-6681 truly value the long term relationship with our clients, and are proud to give families, individuals and businesses the personal attention required when it matters most. When claims arise, we realize that it can be very stressful and will do everything possible to assure timely and complete recovery.