Authorised Financial Services Provider No. 14000

Authorised FSP No. 14000

ZULULAND INSURANCE BROKERS (PTY) LTD

RISK MITIGATION TIPS SERIES – COMMERCIAL LINES

brought to you By Santam Insurance Company


PROTECTIVE MEASURES TO KEEP  BUSINESSES CYBER SAFE

The pandemic hasn’t just impacted how businesses operate, but also how businesses use technology to adapt to the new normal, many companies have had to digitise faster than they had planned, exposing them to new and unfamiliar risks.


With cybercrime on the rise, businesses need to be extra vigilant in avoiding disastrous data breaches and other cybersecurity incidents.


Not just a big business problem

Cyber risk must be confronted – and not only by larger companies. While bigger businesses may seem like a more attractive target, smaller ones are easier to attack as they often lack advanced security measures.


It’s crucial that both recognise just how serious a threat cybercrime is and ensure they are adequately protected against its potentially crippling effects.


New security measures for a new normal

With a hybrid way of working in place at many businesses, it’s more important than ever to maintain information security and privacy on all sides. This means that companies need to meet with their IT departments to adjust their cybersecurity strategies.


These security measures could include:

  • Providing work-issued devices to all employees working from home.
  • Installing comprehensive anti-malware protection to detect malicious threats.
  • Regular updates to address previously recognised vulnerabilities.


In addition, devices should only be used for work-related tasks to control the nature of online interactions, while business insurance policies should be broadened to include working from multiple locations.


The importance of secure internet access

An unsecure home network can give hackers access to view important information stored on computers and other devices that are connected to the same network.


Some preventative measures include:

  • Changing default WiFi names to make it harder for specific home connections and router manufacturers to be recognised.
  • Changing default passwords often, ensuring they contain at least 20 characters with a mix of numbers, letters and symbols.
  • Turning off wireless networks when leaving the house.
  • Upgrading to a router that has a built-in firewall.


Keeping virtual meetings safe Virtual meetings are another way in which hackers may be able to access important information.


Here are a few quick steps to keep your calls safe:

  • Choose a platform that offers advanced security features.
  • Add passwords to meetings.
  • Create a waiting room to control attendance.
  • Lock meetings to prevent anyone with a meeting link from joining the meeting randomly.


How intermediaries can help businesses adapt

Intermediaries add the most value where knowledge and expertise are required to identify risks and find solutions that match client needs, especially when it comes to cybersecurity.


They play a vital role in driving broader awareness of cybercrime by educating clients about the benefits of cyber-related business insurance and explaining how the cover works. To request a quote for cyber insurance, speak to your intermediary.