Cyber espionage is a scary word that brings to mind images of national security threats by foreign countries. But cyber-espionage is not limited to large-scale attacks. In fact, according to Symantec, there was a 42 percent increase in cyber-espionage in 2012, with 31 percent of attacks targeted at small businesses.
In a cyber espionage assault, a user’s computer can be infected through malicious email attachments, compromised websites, and other methods. One example of a cyber espionage tactic is the “watering-hole” attack, in which the hacker exploits a user’s Internet browsing habits. The cyber criminal will install a malicious payload on legitimate sites that a target either hosts or simply visits frequently. When the target goes to the now compromised site, malware is silently installed on the computer.
Another form of cyber espionage quickly gaining footing is cyber ransom. Norton reports cyber ransom as one of the top 10 current threats. Once a computer has been infected with ransomware, the computer is locked from user access. A page is then displayed demanding payment in order to further access the computer. Even if one is willing to pay the ransom to access his or her own computer, there is no assurance that doing so will actually result in the removal of the ransomware, because some ransomware executes each time the computer boots up.
You may not think your business is a lucrative target to hackers, but most companies store valuable information, such as email addresses, account numbers, and personal information of employees and/or customers, on their corporate computers.
It is important to keep all of the devices on your network patched with the latest security updates. Be sure to include a suite of security products, including antivirus protection, to guard against various attacks.
There is no amount of vigilance that can protect you from every attack, though, so you need to insure your digital assets. Most businesses lack adequate security measures or cyber insurance, whether because of perceived cost or complexity involved.
But it’s important to know that general commercial insurance policies do not cover your business in the event of an Internet attack. And even if your data is stored with an external host or a cloud service provider, you are still liable for what happens to your data.
INSUREtrust offers a variety of flexible plans that can provide you the coverage you need at a cost you can afford.
Internet insurance doesn’t have to be expensive, but it is money well spent. The premium cost for a cyber insurance policy can be as little as $1000 for a $1 million policy limit.
Over the past ten years, INSUREtrust has written more than $100 million in premiums and paid more than $30 million in claims. Insurers are looking for business and we can find competitive pricing and terms for almost any risk.