Worried about cyber crime? You’re not alone.
New data breaches announced virtually every week are zapping profits for businesses nationwide.
Consider this: One 16-year-old in a distant land can tarnish the reputation of your business as fast as a new bit of malware code is executed. It’s a strange, but devastating form of theft. More than 3,000 U.S. companies were hacked last year, many of them small and medium-sized businesses.
Here are three important ways small businesses can mitigate the risks of cyber crime.
Talk to your insurance agent. General liability policies aren’t designed to provide much, if any, coverage for cyber attacks. But there are several different types of insurance products designed to help mitigate this specific type of risk. Your insurance agent can review your options with you.
Take preventative steps. Small businesses can take a number of preventative steps, such as limiting the number of employees who have access to sensitive data and information. You’ll want to make sure you have strong passwords and secure wi-fi and train employees to take specific steps to avoid cyber attacks.
Have a plan. It’s always a good idea to have a written cyber security plan. The FCC has a free online tool to help you create one at this link.