Cybercrime is going to affect us all, either directly or through third parties. The average cost of a cyber-attack for companies with under 100 employees is £25,7361.
Is your business protected from the costs associated with a ransomware attack?
- Business interruption – Lost profits whilst unable to trade due to a cyber attack
- Lost/damaged data – Information on your system might be permanently unrecoverable
- Public Relations – Damaged reputations can be costly to repair and have a long term impact on profits.
What can you do?
Take these steps to become more cyber resilient:
- Staff Education
Cyber-attacks target the perceived weak link; people. Educate your staff to understand and recognise threats and they can become a security asset.
- Data Backup
Your data is your business. Keep a copy off site and secure so you can recover your information when you need it.
- Update your software
Your software providers will regularly release updates with the most recent security patches, keep updated to protect against the latest discovered threats.
If the worst does happen a cyber insurance policy can protect your business from the financial costs associated with a cyber-attack and help you get back to doing what you do best.
If you want to know more about any of the above please visit our Cyber-risks Management page at www.bgi.uk.com/cyber
1 Hiscox Cyber Readiness Report 2017, page 5.