Cyber Risk Insurance Reduces Liability Issues

cyber risk insurance

Now that cyber breaches, cyber theft and cyber crimes have become an almost daily occurrence, many learning institutions are now focusing on dealing with this threat. While having the ability to access Wi-Fi practically everywhere makes doing business easier and quicker, it can come with quite a serious price to pay if breached.

Easier access to these records for staff and employees means it’s now easier for thieves to invade college and university databases and disrupt organizations both large and small. Cyber liability is costing these institutions millions annually, and a lack of security can do a lot of damage, often bringing them to the brink of ruin. Hence, you need to advise your clients that their best defense is cyber risk insurance.

Attacks are orchestrated within and from outside forces

While thrilled with the convenience and easy accessibility that computers provide, your clients must take precautions to avoid being infiltrated, both within, and from outside forces. Among the higher education cyber attacks that have occurred recently are crimes involving students hacking the registrar’s office to change grades.

Unfortunately this new technology makes schools much more susceptible to attacks by hackers and thieves. Because so many rely on wireless and mobile communication, cyber criminals continue to be both a problem and a serious threat. Here we suggest a couple of ways in which many institutions can avoid becoming a victim of a cyber crime.

Protect the confidentiality of email 

Staff members should never share passwords, and whenever checking email make sure that no one is attempting to steal login information. This creates an avenue for someone to steal private information as well as credentials. Also, do not use a shared computer to log into bank accounts or other confidential websites that may be compromised.

Access confidential files only on a secure network

Always be cautious when logging into a Wi-Fi network and make sure to turn off the Bluetooth feature when not using it since this makes it more difficult for hackers to access laptops, tablets, and mobile phones. Cyber risk insurance coverage can aid those clients who fall victim to cyber breaches, but they can help avoid a costly breach in the first place with a little added security and common sense.