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Preventing Cyber Attacks > Developing a Cyber Security Policy
While most business owners associate breaches with large corporations, the truth is, no business is immune to these risks. As small businesses don’t often have the financial reserves and resources to recover from an attack, one breach can be devastating. As we mentioned in a previous post, there are some ways to minimize risk for a business, including implementing a sound cyber security policy. In addition to exploring how to develop and implement a cyber security plan, business owners can protect their operation and achieve peace of mind with a Cyber Liability Insurance policy.
Have management enforce it.
Rules can be blurred if employees don’t know which guidelines to follow, especially if there aren’t any. Put someone in charge from upper management to enforce the guidelines to ensure there is no confusion and that policies are universally accepted by everyone.
Evaluate security guidelines.
Cyber criminals and the cyber landscape only becomes more and more complex, so business owners need to evaluate their specific guidelines and which exposures they are most susceptible to. For example, the following questions can be asked to establish these guidelines, as stated by Go Anywhere:
- Which industry regulations do you need to comply with?
- What data do you need to protect and how should it be stored and transferred?
- What business software needs to be maintained and updated to stay secure?
- What do you expect of all employees in terms of choosing passwords, appropriate internet use, remote network access, email guidelines, and other cyber activities?
- Who will manage and maintain the cyber security policy?
- How will you enforce the guidelines (what is the penalty for willful non-compliance)?
Once these questions have been answered, a policy can be drafted.
It’s one thing for employees to purposefully steal or divulge information in a malicious act, but it’s another for employees to simply not understand the risks. Negligence accounts for nearly half of all data breaches, which prioritizes education for employees. They can’t prevent risks they don’t know exist, so take the time to inform employees on how to properly protect data, secure their networks, and avoid suspicious clicking.
Update the policy.
A cyber security policy isn’t a one-time ordeal. As updates and new threats become apparent, the policy should be updated. Policies should be reviewed biannually, and updates should be automated to do it as soon as possible.
About Mavon Insurance
At Mavon Insurance, we specialize in crafting custom-tailored solutions for personal, commercial, professional and national programs. Our comprehensive Cyber Liability coverage includes, but is not limited to, forensic analysis, website publishing, programming errors and omissions, breach notification and monitoring services, crisis management, extortion, and much more. For more information regarding our products and services, or to become an agent with us, contact our knowledgeable experts today at (877) 426-2866.