Security Series Part 1: Avoid Information Breaches With These Tips

We live in a time where it would seem like security is taken very seriously: residents expect to keep their doors locked, logins require periodic password updates, and ads joke darkly about how identity theft can happen to anyone. Even the newest laptop and smartphone models includes fingerprint and face recognition for quick but secure logins.

When it comes to security, it would appear that caution is accepted as a way of life. It might come as a surprise then, that a survey done in 2015 shows that businesses aren’t nearly as secure as they know they should be.

The Findings

According to the survey, 37 percent of small business owners have no security rules in place for disposing of documents, even though 79 percent were aware of the legal obligations to keep their companies’, employees’, and customers’ information secure. Additionally, only 85 percent of big businesses and 35 percent of small businesses have protocols in place for cyber-security. On top of that, only about half of these businesses say that the policies they have in place are followed seriously by employees.

If you own a business and are unaware of the security protocols, then your company is at risk for financial loss. Of course, not properly storing files or disposing of documents also puts your employees and clients at risk too.

For small businesses, an information breach could ruin their reputation –in a very expensive way. Another study found that the average cost of information breach was between 3 and 4 million dollars! For a small business, this is enough to put them under.

In light of this information, we have put together some tips for keeping your company, employees, and clients safe:

Physical Documents

For safely storing physical documents, make sure your company has well-organized files that are locked. Provide designated bins for documents to be shredded. Make sure your employees know about these bins and that they shred the contents often. When in doubt, shred!

Cyber-Security

Wipe thumb drives and hard drive that are no longer in use. Log out of online accounts after you are done. Make sure all employee computers have secure logins and passwords and return to the lock screen when unattended. Keep computers updated with the latest spyware protection to avoid viruses and hackers (and stay tuned for Part 2 of our Security Series which will deal specifically with cyber security and liability).

Implement

Train employees in security protocols. Post an employee “security check-list” of these guidelines. Meet with company executives to discuss your security measures and check that they are up-to-date. Make sure your company (and you personally) are thoroughly insured in case of a security breach of any kind.

It may seem like a hassle to follow all the recommended security measures; however, the data is clear. The financial and personal risk of an information breach far exceeds the trouble of implementing some small but effective steps. Save yourself from a major headache in the long run.

As always, if you want to make sure that you are properly covered by insurance, don’t hesitate to reach out to your team at Warwick. If you live around the Brookfield, CT area and want to learn more about your insurance needs, be sure to give us a call today at (203) 775-2564.

This is Part 1 of a two part series on keeping your business secure despite increasing information breaches and cyber liability. Keep an eye out for Part 2 on cyber security and liability

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