In today’s rapidly evolving digital landscape, safeguarding our digital data is an ongoing battle. As more people share sensitive information online and businesses transition to digital operations, the risk of identity theft and data breaches increases. Over the past decade, breaches of personal information have steadily risen, leaving both the public and businesses desperate for protection.
Why Cyber Security Insurance is Essential
To address these growing concerns, the Department of Homeland Security has designated October as National Cyber Security Awareness Month. Staying informed about common cybercrimes and following best practices can help protect your personal and business assets. Find information & tips from the Department of Homeland Security below and on their website. Cyber security insurance plays a crucial role in this protection.
Common Cybercrimes to Watch Out For
- Identity Theft: The illegal use of someone else’s personal information to obtain money or credit. Signs of identity theft include unexpected bills for products or services you didn’t purchase and unauthorized withdrawals from your bank account.
- Phishing Attacks: Cybercriminals use legitimate-looking emails to collect personal and financial information or infect your device with malware. These emails often appear to be from trusted institutions or services.
- Imposter Scams: Scammers pose as government officials, family members, or friends, requesting money or personal information. These scams often involve urgent requests for wire transfers to pay taxes or fees.
Best Practices for Digital Security
- Keep a Clean Machine: Regularly update the security software and operating system on your devices to prevent attackers from exploiting known vulnerabilities.
- When in Doubt, Throw It Out: Be cautious with email attachments and links. If something looks suspicious, it’s best to delete it.
- Use Stronger Authentication: Enable stronger authentication for accounts with sensitive information, such as email and bank accounts, to verify authorized access.
Cyber Security Insurance for Businesses
For businesses, the stakes are even higher. Protecting client and employee information is a critical responsibility. Ensure you have the right protections in place with cyber security insurance. Consider using our Cyber Assessment to evaluate your exposure or reach out to Ed McGuire, Director of Specialty Insurance at FBinsure, to consult with a cyber risk expert.
