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In the digital world of 2024, it’s never been more important to protect yourself from cyber-attacks. Months after the CrowdStrike attack took down half the world’s access to vital equipment and systems, it’s becoming alarmingly apparent just how dangerous data crime can be, with personal and financial data at risk.
While there are plenty of ways to keep yourself vigilant against these types of cyber- attacks, there’s one often very overlooked – and very simple – crucial detail that businesses forget.
You might be sure your business is protected by your insurance provider, but often, a Cyber and Data Insurance Policy is only as good as the safeguards businesses put in place themselves. Without meeting the required safeguards, your insurance provider could deny your claim. Don’t let your protection give you a false sense of security.
With cyber-attacks becoming more frequent and sophisticated, it’s crucial that your business meets the specific requirements laid out by your insurer. Failure to do so could result in denied claims, financial disaster, and significant operational downtime.
Here’s a quick guide to what you MUST have in place to meet most insurer requirements and ensure your protection – and how Think Connect can help you stay safe:
Mutli-Factor Authentication (MFA)
Multi-Factor Authentication, or MFA, ensures that employee information and sensitive data is stored securely, especially when working remotely. Cyber security policies will state that policyholders “must secure access to their computer systems by ensuring multi-factor authentication (MFA) is implemented for all employees accessing sensitive data remotely.”
Hybrid working has made it even easier for passwords to become compromised, and insurers will not pay out if there’s no MFA in place.
At Think Connect, we provide access to Duo, an easy-to-use MFA solution that requires additional verification before access is granted. This critical layer of security protects against unauthorised access and keeps you compliant with your insurance policy’s requirements.
Antivirus & Endpoint Protection
Be aware that cyber security insurance policies often state: “Businesses are required to deploy and maintain up-to-date antivirus software to detect, prevent, and respond to malware, ransomware, and other cyber threats.”
That means if your antivirus solution is outdated or ineffective, you’re leaving yourself vulnerable to malware and ransomware attacks that could cripple your business.
Programmes like SentinelOne, which Think Connect can provide, is an AI-driven antivirus and endpoint protection, actively detecting and neutralising threats before they spread. This ensures your systems remain secure, and you stay within policy compliance.
Virtual Private Network (VPN)
A Virtual Private Network (or VPN) gives an extra level of protection through the use of encryption technology, allowing employees to work remotely while accessing sensitive company data.
Without a secure VPN, crucial data is at risk, and if an employee is logged onto a simple, unsecured Wi-FI connection – maybe while travelling and working in a public place – it could mean a business’ entire network is exposed.
Think Connect can offer Perimeter81 – a robust and secure encrypted VPN solution that gives remote workers safe connections while out and about and keeps the insurance requirements for remote access.
It might seem simple but making strong and effective passwords – and keeping them safely managed – is vital to not only protect your data, but also keep your business compliant with insurance policies.
Weak, reused passwords are a hacker’s dream. One breached password can lead to widespread access across your business, compromising sensitive data and systems.
Think Connect can offer1Password, which provides a secure way to generate, store, and manage strong, unique passwords for all your accounts. It ensures your business remains compliant with password management requirements, significantly reducing the risk of credential-based attacks.
