Risk & Business Magazine Cooke Insurance Group Magazine Winter 2018 | Page 29

CYBER SECURITY
Cyber Security For Your Small Business
H
igh-profile cyber attacks on
companies such as Target and
Sony have generated national
headlines and have raised
awareness of the growing
threat of cyber crime. Recent surveys
conducted by the Small Business Authority,
Symantec and the National Cyber security
Alliance suggest that many small business
owners are still operating under a false
sense of cyber security.
The statistics are grim: The vast majority
of small businesses lack a formal Internet
security policy for employees, and only
about half have even rudimentary cyber
security measures in place. Furthermore,
only about a quarter of small business
owners have had an outside party test
their computer systems to ensure they are
hacker-proof, and nearly 40 percent do not
have their data backed up in more than one
location.
Shockingly, despite these significant cyber
security exposures, 85 percent of small
business owners believe their company is
safe from hackers, viruses, malware and/
or data breaches. This disconnect is largely
due to the widespread, albeit mistaken,
belief that small businesses are unlikely
targets for cyber attacks. In reality, data
thieves are simply looking for the path of
least resistance. As more and more large
companies get serious about data security,
small businesses are becoming increasingly
attractive targets—and the results are often
devastating for small business owners.
In recent years, nearly 60 percent of small
businesses victimized by a cyber attack
closed permanently within six months.
Many of these businesses put off making
necessary improvements to their cyber
security protocols until it was too late
because they feared the costs would be
prohibitive. Don’t make the same mistake.
Even if you don’t currently have the
resources to bring in an outside expert
to test your computer systems and make
security recommendations, there are
simple, economical steps you can take to
reduce your risk of falling victim to a costly
cyber attack. The following list of easily
implementable security procedures is a
great place to start:
STATISTICS SHOW
THAT ROUGHLY
60 PERCENT OF
SMALL BUSINESSES
WILL CLOSE
PERMANENTLY
WITHIN SIX
MONTHS OF A
CYBER ATTACK.
1. Train employees in cyber security
principles. 7. Secure your Wi-Fi networks. If you have
a Wi-Fi network for your workplace, make
sure it is secure and hidden.
2. Install, use, and regularly update
antivirus and antispyware software on
every computer used in your business. 8. Require individual user accounts for each
employee.
3. Use a firewall for your Internet
connection. 9. Limit employee access to data and
information, and limit authority to install
software.
4. Download and install software updates
for your operating systems and applications
as they become available. 10. Regularly change passwords.
5. Make backup copies of important
business data and information.
6. Control physical access to your
computers and network components.
Cyber security is a serious concern for
all businesses, large and small. Contact
Cooke Insurance Group to learn how our
risk management resources and insurance
solutions can help protect your business
from cyber attacks.
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