Indiana Cyber Security Insurance Reduces Liability Issues

Indiana cyber security insurance

Cyber breaches and cyber crimes in general have become a major concern for many businesses and are now almost a daily occurrence. With smartphones and laptops only adding to concerns of files and personal information being at risk, along with the ability to access Wi-Fi at local bookstores, coffee shops and businesses that cater to the public, the problem is only magnified.

While all of this technology has made doing business a lot simpler and quicker it unfortunately comes with a price. The Internet has given criminals easier access to invade company databases and steal confidential records. This affects companies both large and small. The issue of cyber liability is a serious one and can end up being quite costly. A breach occurring at a major corporation can run in the millions of dollars, and a smaller company risks being brought to the brink of ruin. Indiana cyber security insurance is required to help local businesses deal with acts related to cyber crimes.


Convenience comes at a price

Business owners, while excited about the convenience of using computers, and also doing business online, must take certain precautions to avoid being infiltrated. Companies that rely on wireless and mobile communication for their business must constantly be aware that there is a serious risk at hand. Never use a shared computer to log into bank accounts or other confidential websites that may be compromised. Employees should only conduct financial transactions on a secure network.

Employees must protect the confidentiality of emailby never sharing passwords, and making sure that no one is able to steal their login information. This just makes it easier for someone to steal private information, as well as credentials. For example, when using public kiosks be aware that they may be infected with malware that has the ability to record keystrokes.

Owners should have their IT team develop a system with checks and balances to ensure all large transactions are safe from the possibility of cyber hackers. In addition, make sure to only log into legitimately sponsored networks. Turning off the Bluetooth feature when not in use will make it much more difficult for hackers to access laptops, tablets, and mobile phones. With the constant use of online banking a company’s business assets can easily be the target of severe criminal activity.

While Indiana cyber security insurance cannot prevent cyber breaches, it can be used to settle claims and pay for losses related to cyber crimes.