Our nation has been facing some serious cybersecurity threats recently. A year ago, the nation was hit with the Colonial Pipeline ransomware attack that showed us how serious these threats really are. Other incidents such as the Kaseya hack and Log4Shell vulnerability showed businesses they need to prioritize their cybersecurity to stay on top of these evolving threats.
Currently, we are expecting an influx of phishing threats due to Russia’s war in Ukraine and bracing ourselves for other types of threats. Because of these recent events, the cyber insurance market is hardening; carriers are increasing their requirements, raising their premiums, and getting their war exclusion policies in order. There are several things businesses can do to protect themselves, their clients, and keep themselves insurable.
When it comes to phishing campaigns, the hacker is after your personal/sensitive information, usually trying to take control of your systems. Employee cybersecurity awareness training is crucial to combating these types of phishing attacks. These threats often use fake social media profiles, acting as recruiters, or impersonating an administrative role at a trusted company, sending malicious emails attempting to steal information and compromise your system. In fact, many insurance carriers are requiring employee cybersecurity training as well as the following and more.
- Patch Management
- Email Filtering
- Offsite Backups and Backup Testing
- Multi-Factor Authentication (particularly for admin and remote access)
- Endpoint Detection and Response (EDR)
- Next-Generation Anti-Virus
- Security Awareness Training
Luckily, having these security controls in place will help you better protect yourself and your clients, while getting you better coverage for lower rates and keeping your prepared for our nation’s next threats.