Protecting your business from a cyber-attack
As a leading insurance broker, Aston Lark understands the growing threat of cyber-attacks on businesses in today’s digital age. Cyber-crime is a growing area of criminal activity, with entire police departments dedicated to uncovering those behind it and attempting to stop further misdeeds. But as quickly as one perpetrator is caught, there are dozens of others ready to invade business systems with ever-more sophisticated methods.
Any business can be a victim to an unseen attacker
Cyber security breaches and attacks are among the most damaging “hits” a business can face in the digital age and can be devastating. The cost is much more than a financial one and can far outweigh the expense of putting more stringent protection and recovery measures in place. Reputational damage and physical recovery time while systems and software are reviewed and repaired can take a heavy toll on an organisation. Whether the price is purely monetary or in terms of staff morale, an infringement on security can feel personal and invasive.
There’s also the background noise of many businesses, small and large, echoing the same sentiment: “It will never happen to us. We’ve got anti-viral software and specialist staff that know all the latest tricks.”
In truth, that’s not enough. Right now, there’s no cure-all/catch-all solution or software. While there’s plenty of sound advice and anti-viral “kit” that can reduce the possibility of a cyber breach, it seems there is no digital “wall” that can’t either be climbed over or breached.
And there have been several big-name victims: The NHS, British Airways, and Dixons Carphone have all suffered, even though each of these organisational giants would have had stringent cyber security in place.
One of the specific elements of this crime is how personal and financial data is not only in the wrong hands but can hold both the business and its customers to ransom with the information stolen. And to add insult to injury, a further infringement that can take a long time to resolve is when a cyber-attack is in the form of a virus, leaving robust systems and software unusable and unsafe.
When the cyber army is on the attack, what’s the best form of defence?
It may be a relatively new concept in the insurance market, but cyber insurance might be your best armour. Providing protection from the fall-out of data leaks, financial loss, business interruption, and potential PR hazards – all of which can happen during and post-cyber-breach – cyber insurance is a critical buffer that will be essential when getting back on your feet. Waiting it out with an unseen enemy can sometimes feel like losing an almost incomprehensible, invisible war. And it’s a battle that makes a fight scene in Game of Thrones look relatively tame, as there can be no clear winner.
But having a decent strategy of “moves and engagement” can certainly help. As well as playing a crucial part in recovery, having cyber insurance in place provides cover and protection from ransomware attacks, phishing scams, and even unintentional staff mishaps, like having a laptop stolen, or mislaying a piece of office tech such as a mobile phone.
Adequate and specific insurance protection is a welcome relief for businesses where the speed of cyber breaches threatens to outrun the pace of technological development. But surely there’s more to a product like this other than cover?
By seeking out the cyber insurance provider most suited to your business, Aston Lark is ideally placed to ensure that you’re partnered with the right insurance policy to help you survive the impact of a cyber-attack.
Find out more from Aston Lark on how cyber insurance is your best form of online defence by speaking to Jolene Shaw on 061 834 1884.
Image courtesy of Fresh Business Thinking.com