Cybersecurity, a key investment in small businesses | UNIVISTA INSURANCE

Cybersecurity, a key investment in small businesses

Cybersecurity, a key investment in small businesses. The commercial insurance market in 2023 will continue the current upward trend, pushed by inflation, weather-related issues, rising interest rates, and rising cybercrime, experts say.
We want to talk about how to mitigate the impact of cybercrime in small businesses, especially now that almost all of us have access to the Internet to work.
Some small business owners believe that their business is too small to be a target for criminals. However, in 2021, companies in the US lost 6 trillion dollars due to cybercrime. The average cost of a data breach was $5.4 million, according to IBM.
The first important step in avoiding damage is to assess the security risks to which the company is exposed.
Afterward, it is necessary to create a mitigation and response plan to the detected risks, which includes, in the event of a cyberattack, notifying the authorities. Implement measures to isolate infection and protect data from theft and a communication plan with affected employees and customers. Planning for quick action can often minimize the scope of the attack.
Secure access points must be created for employees who work from home or access the corporate network from other locations. A good idea is to require them to use a VPN -a secure virtual private network-. The company could provide password-protected laptops that must be kept up to date and protected by firewalls.
Employees should receive training on cybersecurity, how to use strong passwords, and explain the importance of avoiding public Wi-Fi.
It is essential that companies destroy all printed information that allows access to customer data with paper shredders.
It is recommended that companies use data erasure programs. It is not enough to delete a file. To remove it correctly you need special software.
Businesses should purchase cyber liability insurance, coverage designed to help them recover from a cyberattack or breach of customer data.
The most important thing is to see the investment in cybersecurity as something important and necessary for any company that has access to cyberspace. Cybersecurity, a key investment in small businesses.

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