In today’s society, cybersecurity is a necessity for businesses, home offices and individuals. Hacking and data incidents are a fact of life in the modern digital world.
Typically, a cybercriminal’s primary goal is to access personal data like birthdates, Social Security numbers, financial information and addresses. Information at risk includes:
- Payment Cards
- Protected Health Information
- Personally Identifiable Information
Managing the impact of cybercrime can get expensive rather quickly. First, an individual or business must determine what material was accessed and send the mandatory notifications to compromised parties. An office also needs to manage its reputation following a breach.
Industries of all sizes are at risk for these kinds of crimes. Hackers assume that small companies and individuals have fewer protective measures and target them as a result.
There are many steps a company or office can take to decrease the risks involved with digital files, such as:
- Encrypting all emails that contain sensitive or personally identifiable information
- Updating passwords regularly
- Avoiding links or suspicious attachments in email communications
- Creating a plan to handle a possible cyber attack
Standard insurance policies do not cover data, although it is typically more valuable than other assets. Cyber insurance coverage provides the necessary protection for restoration and recovery from digital crime.
All types of data are at risk in today’s online world. Addressing cybersecurity protects personal and business information.