Cyberattacks have become a regular occurrence and businesses of all sizes are being targeted. Regardless of industry, organizations have the potential of becoming the next victim of cybercrime. In fact, it is such a threat, insurance companies are requiring several key elements be met to quality for cyber insurance. Learn more here: Cyber Insurance – Staebler Insurance

To better prepare and protect your company from cyberthreats, our insurance partner Northbridge Insurance has shared these five steps:

PLAN A RESPONSE

Create a detailed and proactive incident response plan that focuses on both disaster recovery and business continuity. Collaborate with security industry experts and have a trusted technology partner appointed even before you need their help.

BACK UP REGULARLY

Having a regular backup schedule is critical in case you are the target of a cyberattack such as ransomware. Monitor your data’s integrity to ensure that it is being saved correctly to a disk or the cloud, and on a secondary system.

RESTRICT ACCESS TO NETWORK

Secure all access points to your network. Enable multi-factor authentication and regularly monitor when and by who your network is being accessed.

TRAIN YOUR STAFF

The frontline of your cyber defence are your employees. Training is critical to ensure everyone is aware of how to spot malicious emails and other cyberthreats. With evolving techniques, it’s important that regular training material is updated, and completion is required for all staff.

INVEST IN CYBER RISK INSURANCE

The best plans and procedures can still result in a cyberattack. If your systems are breached and data is stolen or ransomed, you’ll need the resources to recover and restore. It may take days, weeks, or months, and you’ll need the protection of cyber risk coverage.

Finally, the best advice is to use an insurance broker who brings expertise, experiences, and advocacy to your organization. They will make sense of what’s required and advise you on how to be cyber insurance ready. Talk with a Staebler Broker to learn more and get started on protecting your business.

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Staebler Insurance is a general insurance broker specializing in car insurance, home insurance, small business, and commercial insurance. Staebler brokers proudly serve Kitchener, Waterloo, Cambridge, Guelph, Stratford, Listowel, Fergus, Elora, Wellington County, Perth County, Waterloo Region and southern Ontario. Get a Quote to get started today.