With the increase in the amount of cyber breaches and hacks, many people are continuing to fall into the same traps not only with breaches but also their protection. There are many myths surrounding this very dangerous issue and it has resulted in misconceptions.
Among the many myths here are a few:
- Your Data isn’t important: The biggest problem is that many smaller companies think their data isn’t as valuable as those offered by Target, Capital One and Equifax, to name a few that have had high profile breaches. Not only is this not true, they are typically low hanging fruit for hackers, i.e. easier to get
- Cybersecurity is a Technological issue: Cybersecurity is not just a tech issue. A good majority of breaches are caused by human error, such as opening an infected email or using an infected drive. Once you give them permission, they will wreak havoc on your server. Dual Factor authentication can help with preventing unauthorized hackers.
- Cyber Breaches are covered by general liability policies: Cyber breaches are not covered under a GL policy. You need a separate cyber insurance policy to cover damages caused by the breach, such forensics, lost revenue and upgrading your policies and security.
- Cyber attacks are caused by external actors: Some of the biggest hacks were the result of inside help, meaning current and former employees. When you let someone go, disable their emails and reset crucial passwords.
- Compliance is enough: While companies should try to comply with cyber protections, the minimum is often not enough as other malicious actors are smart enough to work through basic protections. Vigilance, training and updating your cyber protection policies are crucial.
There is a lot of misinformation out there and many people still fall for it. Talk to your insurance provider about the myths and reality of cyber breaches.
