Why cyber threats make bespoke office insurance a must

Of all the threats that businesses face today, arguably those that come from cyber space are the most damaging.

 

Criminals no longer have to rely on breaking in somewhere to steal personal data and business intelligence. They can now get it from unsecured businesses internet connections via computers located anywhere in the world.

Many high-profile cases in the press have seen a new wave of cyber criminal; one whose actions they justify as "trying to make a point", whether this be politically or morally.

However, taking down a website has instant ramifications for businesses with a presence online. It can break confidence between business and consumer. It can land a company in serious trouble with data protection officials and it can leave a business living in fear that it might happen again.

So while office insurance does indeed protect a business against the traditional threats of office break-ins, accidents causing damage, or uncontrollable outside events, it takes a special kind of insurer to cope with the new threat of digital terrorism.

The kinds of vulnerabilities that companies face are vast, but can include cases of libel caused by email communications going awry, viruses that threaten to wipe out, or lock out, company data and unauthorised access, whereby personal or sensitive information can be accessed. Copyright infringement, which can destroy a business' intellectual rights and website failure are also potential threats. No-one would agree that any of these are good for business.

There are things that enterprises can do to protect themselves further though. Rather than risking these things happen, installing the right software protection against outside attacks is a must. Trying to beat the criminal before they reach the source is a major preventer of crime.

Training staff to be competent users of IT and data protection will also help. In the eyes of the law, it is even a businesses responsibility to ensure that staff is adequately trained to have an awareness of and abide by the Data Protection Act 1998.

As a fail-safe and good insurance practice, a firm could also choose to mirror company data off-site in a secure facility. This means that there are ways to bounce back should the worst happen.

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