Cyber Risk

Cyber Risk

Derek Rigby

By: Derek Rigby

Cyber Risk is a growing concern to SME business particularly those conducting some or all of their business online.

Shellshock virus

At Sagar Insurances the instances of theft has dwindled during the past 12 months. Seldom do we see claim for the theft of equipment following a mid-night burglary. However, instances of criminals accessing computer systems to commit

  • fraud,
  • blackmail
  • theft

are on the rise.

Examples are:

  • A company had their computer system hacked and criminals tried to access the company’s online banking system using information stored on the computer.
  • A company had their accounts system hacked and the bank details on their invoice template changed.
  • A company had their telephone system hacked and all outgoing calls were redirected via a premium rate number.
  • A company whose customers predominantly traded online, had their website attacked and were unable to trade until the site had been rebuilt.

There are several ways to make sure you are protected properly but only one will help you put things right if it all goes wrong. The right Insurance policy will help cover

  1. costs of cleaning your system following at attack,
  2. fines that come with a Data Protection breach following the loss of personal data,
  3. loss of income because you are unable to trade whilst your system is down.

Here are some other ways of protecting yourself:

Keep it clean.

Run regular checks for Malware and make sure you’re running the most up to date antivirus software.

Complicated passwords.

Make sure your password is easy enough to remember but complicated enough that no one else can guess it. Mobile devices should always be locked, preferably with a password or pin but at the very least something more than a swipe to the right!

Use secure websites.

Look for a lock somewhere in the browser address line, or make sure the URL begins with “https,” as such sites encrypt log-in information before sending it to the server.

Damian Glynn

Damian Glynn

In a recent publication from Damian Glynn at

VRS Vericlaim

vrs_technical-bulletin_cyber-losses_feb14

He asks:

  • Is there a insured event?
  • Is the incident covered prima facie?
  • Is the incident excluded?
  • How long is it going to be investigated?
  • How will quantum be considered?

Contact us at Sagar for further information

Sagar bottom strip

Contact Details Telephone: 01282 858250