The Cyber Insurance Guide For Shop Owners 2017

The attitude to cyber-attacks has long had an air of scepticism around it from small businesses and shops, with many shop and business owners thinking it won’t affect them. Though, 46% of all UK businesses were victim of at least one cyber security breach or attack within the last year. With email marketing, online banking and e-commerce, more and more shops are holding personal data digitally and could be targeted.

Of course, not only are there steps you can take to limit your chance of being targeted but you can also gain comprehensive cyber insurance cover to add further protection when you need it most. In this blog we’ll look at how your insurance can help protect you and what you can do to prevent attacks.

What Can Cyber Insurance Cover?

Cyber insurance can cover a wealth of situations to help keep you covered against the dangers of the digital world. With cyber-attacks coming in different forms, from ransomware to stealing data, cyber insurance helps you to remain protected against key threats. Cyber insurance can cover against:

  • Extortion — If an attacker is holding you to ransom over data or information, extortion cover will help you to cover the costs
  • Data recovery services — Providing expert help to assist you with recovering deleted or stolen data
  • Business interruption cover — Helping you to keep your income whilst your business is closed due to the cyber-attack
  • Hack damage cover — Protecting you against costs you would have to pay to recover your websites or databases after an attack
  • Consultancy services — Covering the cost for you to consult with industry professionals over the cyber security of your business
  • Legal cover — Should your attack unfortunately result in data loss that you are liable for, legal cover will assist you with court costs
  • Defence costs — Protecting you in the situation that your breach contaminates another system or business

So with such a world wide web full of threats and danger, cyber insurance is one of the key ways to ensure that if you are attacked you are adequately covered. One of the best parts about cyber insurance is that you can look to include it in your shop insurance policy and save both time and money thanks to lower premiums and having one, easy to manage, renewal date.

Need help with your cyber cover? Speak to Coversure Grantham and we can build a policy that works around your business’ needs. Call us on 01476 565 590 or email us by clicking here and our team will be happy to help.

What Can You Do To Protect Your Shop From Cyber-Attacks?

Of course, the best way to be protected against cyber-attacks is to prevent them in the first place. There’s a wealth of techniques that businesses can use to reduce the likelihood of cyber-attack and protect themselves in this digital world.

Review Your Cyber Security

The higher level of security you have, the harder you will be to hack. Take a look into your current anti-virus software, firewalls and internet access that your employees have. By tightening up on your security, you limit the chance of an attack as hackers will be looking for easy targets, as highlighted by the spate of attacks in small businesses.

Update Your Computers Regularly

It may sound silly, but the large scale attack that affected the NHS in 2017 could’ve been prevented by a simple computer update. The virus was able to find a flaw in an old version of Windows and wreak havoc across their systems. We understand they can be annoying but when your entire business is at stake, it’s worth waiting those few extra minutes in the morning after an update.

Be Careful With Emails

One of the most common methods of attack is phishing. These are emails disguised as companies, made to trick you into clicking links and providing sensitive information as you believe it’s a company you know and trust. These come from vanity email addresses, that on browsers or apps will show a company name but the email itself is a giveaway, being a random email rather than one from the domain of the company. Be wary of emails and inform your employees to look out for the same.

Back Up Sensitive Data

If you’re the victim of a ransomware attack, holding you to ransom over data, then you’ll thank your lucky stars that you backed up recently. These attacks could cause you to lose all data, which would force some companies into a position they wouldn’t recover from. By simply backing up regularly, you can ensure you’re not starting from scratch.

Control Employee Access and Offer Adequate Training

You could put all the correct processes in place but still be the victim of an attack due to employee negligence. Ensure you limit access to systems and data so only employees who definitely need access have it, this’ll prevent attackers getting too far if they manage to prey on a negligent employee. You should also look to offer employees training of how to stay safe with their computer so they limit the chance of an attack through them.

Speak To Coversure Grantham Today

We hope the article above has helped you gain a greater understanding to the world of cyber insurance and how to best prevent attacks. If you have any questions or want some advice over cyber security and cyber insurance, you can speak to your local independent broker Coversure Grantham. So give us a call on 01476 565 590 or click here to email us.