Employees Working From Home? Time to Think About Cyber Risk.

by | May 28, 2021 | Business Insurance, Business Risk, Commercial Insurance, Cyber Security, Data Breach, Data Security

Now that employees are regularly working from home, you are coming to grips with the fact that your business now has an increased cyber liability exposure. This type of exposure could quickly have a significant financial impact on your business. With equipment and networks extended beyond the office, employees using personal devices and unsecured or outdated software a situation has been created rife for technological exploitation. What can you do to mitigate these risks?

Step 1 – Identify the Exposures

  • Conduct an in-depth analysis on the types of devices that are being used to do conduct business on your behalf.
  • Identify how your employees are accessing your network. (VPN- Virtual Private Network)
  • Determine the last time the VPN was updated.
  • Understand that phishing emails and ransomware attacks are going to increase significantly.

Step 2 – Defend Against the Risks

  • Provided training to your employees on how to identify and handle phishing emails.
  • Have an IT professional conduct penetration testing on your network to determine where the weaknesses are in your system.
  • Implement and communicate clear Bring your Own Device (BYOD) and Remote Work policies.

Step 3 – Finance the Risk

  • Find a Cyber Liability policy that will cover the variety costs associated with a cyber security breach. Ensure that this policy does not exclude coverage for personally owned hardware.

These are just the basics when it comes to minimizing cyber risk with a remote workforce. Engaging with a knowledgeable team prepared to walk with you through these steps can alleviate much of the burden. Reach out to JBickel@fbinsure.com if you are interested in learning more about the process, we have developed at FBinsure.

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