The answer to this question, of course, is that we all have!

How do you prevent them?

First, you do security training to make sure your employees know how to create strong passwords, and how to deal with malicious links and phishing sites. Then you carefully monitor the protocols to make sure the rules are being followed.

Businesses throughout the USA are at risk of hackers, who use malicious software like spyware, ransomware, and Trojans to steal sensitive information, which can cause great financial and reputational damage to a business.

In fact, many businesses have already dealt with this threat. Marriott Hotel group, for instance, had its second data breach this year when an employee was tricked into letting a hacker into its computer system. And T-mobile paid out $350 million in customer pay-outs after last year’s data breach. Some cyber attacks are structured to cause disruptions in the efficiency of your website, such as slowing down computers.

How else do you deal with cyber attacks?

You get cyber liability insurance, which is rather new to the computerized world. It will cover what can be huge expenses if and when a data breach occurs. It’s a type of stand-alone coverage of expenses, like investigative services, legal fees, fraud monitoring, and even public relation expenses after a cyber event. It will also cover ransomware attacks, including the costs of consultants, cryptocurrencies, and ransoms demanded in threats to release private information or interrupt a system. Contact Koch Insurance Group to discuss how cyber liability insurance will benefit your business.