There’s a common misconception that businesses of small, or medium-sized enterprise are exempt from falling victim to a cybersecurity breach.
However, despite what you may hear in the press – all types of business, big or small, are at risk of experiencing a cyber attack. In fact, the latest research by Business In The Community (BITC) has found that small businesses may be at more risk of falling victim to a cyberattack, as they are less likely to have cybersecurity strategies in place, while a report from Barclays found that “frauds against small and medium-sized enterprises (SMEs) cost £35,000 on average”.
Regardless of the size of your enterprise, businesses are falling victim to this kind of security compromise every day due to lack of knowledge on how to properly safeguard the company.
As the very nature of most modern business activities are online – either through email correspondence, online data storage, e-commerce platforms and more, protecting your digital presence is crucial to the success and ability to grow your enterprise. However, increasing your digital presence comes hand-in-hand with increased exposure to experiencing a cyber attack. As technology becomes a lot more advanced in the midst of a technological age, cybercriminals are also becoming increasingly more deceptive, and so it’s vital that, as a business owner, you do all you can to safeguard your business. Here at Ashley Page, we’ve compiled five easy-to-follow tips that can help you minimise the risk of a cybersecurity breach
Carry out regular risk assessments
Mitigate the risks of a cyber attack by conducting regular risk assessments within your company. Risk assessments allow business owners to stay up to date with the latest threats to your online presence, company data and digital devices, so business owners can learn how to deal with cyberattacks should a breach occur.
As well as preparing you for dealing with a breach or attempted breach, risk assessments can help you to create policies and update software and processes that can prevent a breach before it happens.
Ultimately, the more knowledge your company has about the risks involved in cyber attacks and how they could affect your company, the easier you will find it to take more preventative measures. Planning regular risk assessments and compiling all research into a detailed overview that is shared internally within the company ensures all risks are identified and in turn, minimised. Consider investing in a reputable cyber risk management service to help your business build a strong safety policy that can help reduce the likelihood of a cyber attack. At Ashley Page, as well as offering a unique cyber insurance solution, business owners can choose from a suite of products and services to help with risk assessments, such as security penetration testing and website security vulnerability scanning.
Protect sensitive data information
One of the most crucial ways to prevent a cyber-related attack is to take preventative measures to protect sensitive data information. Data that isn’t properly protected (such as with strong passwords and effective encryption) can be manipulated by hackers which could lead to a more serious data breach that could greatly impact both your customers and your business’s reputation. Be aware of how your employees are accessing and storing crucial data and make sure it cannot be accessed externally from anyone outside of the organisation without authorisation. If you provide company hardware devices such as mobile phones or laptops, ensure these devices are securely protected with passwords and your staff are not exposing your company’s hardware to 3rd parties where sensitive company data could inevitably fall into the wrong hands. This hardware should also have a robust anti-malware system installed to prevent sensitive data from falling into the wrong hands. These anti-virus systems can work to quickly identify and isolate any viruses that may try to enter your company database and are an excellent way to quickly prevent any cyber-related attacks.
Educate employees on the risks of unsecured websites
Unsecure websites are one of the most common ways a cyber attack can transpire within your company. If your employees are not aware of the dangers of an unsecured website, then data can easily be maliciously obtained, read and even altered from anyone who has access to your business and the site’s server. This poses a greater risk to your business’s customers, as malicious data breaches can give hackers access to their sensitive information, especially if they have entered their payment information within your site. Teaching your employees to recognise a suspicious link (even when sent by a seemingly secure source) and the difference between HTTP and HTTPS encryption allows you to minimise the risk of a cyberattack and keeps both your business and your customers’ data safe. At Ashley Page, we offer business owners a comprehensive cybersecurity model that is individually designed based on your business’s individual needs. These models can provide sufficient security training to help business owners and their employees help identify risks.
Seek advice from experts
If, as a business owner, you’re growing concerned about cybersecurity, then you should consider speaking with a cybersecurity team of professionals. Expert consultants can work with your company and determine the best course of action when it comes to preventing your business from a cyber attack. As well as making specific recommendations on how to keep your business safe, speaking first-hand to cybersecurity experts can provide a wealth of knowledge, which can be beneficial to business owners that aren’t familiar with all types of cyberattacks their business may face. Ashley Page was one of the first insurance brokers in the UK to recognise the need for cyber insurance, so if you’re considering speaking to a team of experts to receive a wealth of credible advice and information on how you can safeguard your business from cyberattacks, then Ashley Page’s friendly team of professionals are able to provide free help, support and advice.
Invest in Cyber Insurance
Investing in a specialist cyber insurance policy is a great way to protect your business against potential cyberattacks and data breaches. If you opt to take out a cyber insurance policy with a reputable insurer, Ashley Page can match you with the perfect provider and policy, which in turn can be a great investment in the event of an attack. From ransomware attacks, invoice fraud and much more – protecting your business from the consequences of a cyber-related incident is crucial to the success, and reputation of your business. With over 45 years of experience of providing tailored insurance solutions, Ashley Page is a reputable insurance broker to consider partnering with. So if the worst should happen, business owners have the reassurance and peace of mind that they have the right insurance policy in place, as well as around-the-clock access to support that can help get your business up and running as quickly as possible.
Cyber Insurance and Risk Management at Ashley Page
Whether you’re considering investing in a risk management service, or a tailored cyber insurance plan to help protect and prevent a cyber attack, Ashley Page’s award-winning insurance services are here to give you the reassurance you need. After teaming up with leading cyber risk management company, Risk Factory, Ashley Page are able to offer your company a comprehensive cybersecurity model, which will be well equipped to manage cyber risks and the potential fallout from an attack. Providing services such as security vulnerability scanning, penetration testing, information security consulting and more, as well as providing a unique cyber insurance cover in the form of first-party, third-party and optional covers, Ashley Page work to give you the best possible policy to prevent a cyberattack from happening. Obtain an instant quote from our team of friendly cyber-insurance experts today.