Did you know a cyber-attack happens every 39 seconds worldwide¹? If you work in the contractor space, you’re probably saying, “that doesn’t affect me because hackers are less likely to target smaller businesses.” But sadly, that’s not true. In fact, 81% of all cybersecurity breaches happen to small and medium-sized businesses². That is because self-employed contractors often have fewer protective resources, making them more vulnerable to harmful breaches.
Sam Steel, Head of Growth at Kingsbridge Contractor Insurance said, “You should take the necessary steps to secure your data. Adopting cybersecurity measures head on, can decrease the risk of exposure and help protect your systems, your business, and your reputation.”
Threats can come in multiple forms, targeting weak points in your network. Any business that uses computers, smartphones and other technologies is open to such threats. Kingsbridge recommends a number of steps that can help keep you secure:
- Investing in anti-malware software that is proven to deal with the latest malware threats.
- Regularly updating passwords – there are a number of tools that can help you with this.
- Keeping your all devices up to date with latest version of any software, fixing any bugs.
- Taking out Cyber Insurance – offering peace of mind and protection should the worst happen.
- Have a disaster recovery plan to ensure you have an effective response if a cyber-attack strikes.
- Backup data periodically, including end-of-week, quarterly, and yearly server back-ups.
There are other tools you can make use of as well, such as a penetration test, also known as a ‘pen test,’ it is a simulated cyber-attack performed to identify any weaknesses within a business’ IT systems. It creates real-world scenarios that show how well a company’s systems perform during a cyber-attack. Pen tests should be completed regularly to help uncover any new security weaknesses.
Sam commented further, “If a business has them, then employees are the first and last line of defence against security breaches. That’s why educating staff on how to manage cyber threats safely is crucial. The National Cyber Security Centre (NSCC) has free online training, which is great for helping you gain essential knowledge.”
Cyber insurance is another security measure small businesses can utilize, giving peace of mind should the worst happen. If a security breach does arise and the company is held liable, then the business may end up paying considerable sums to cover costs and damage.
Kingsbridge’s cyber liability insurance gives companies the financial backing to pay for investigations and corrective action.
