The Year of the Hack


2014 Has Seen An Increase In Cybercrime.  Are You Prepared?

Cyber liability and data theft is one of the hottest topics for Mississippi businesses and risk managers. 2014 saw some of the biggest data thefts that we have seen. But even more interesting is that small businesses in Mississippi are exposed more than large businesses. In fact, 25% of data breaches affect businesses with less than 50 employees. A small business has a greater chance of having a cyber-breach than it does of having a fire.

Many small firms know little or nothing about cybersecurity, according to the National Small Business Assn., despite the prevalence of data thefts. The trade group reported that 44% of respondents to a survey last year had been victims of at least one cyber-attack, with an average of $8,699.48 cost for each breach. (E. SCOTT RECKARD, TIFFANY HSU)

Top Data Breaches in 2014

  1. USPS had 800,000 employee records compromised.
  2. Home Depot had 53 million customer’s credit cards stolen.
  3. Chase had 7 million small businesses information compromised.

Three Signs Your Small Business Has Been Hacked

According to BusinessNewsDaily, there are three signs your small business may have been hacked. They are listed below, but for the complete article, click here.

  1. Unusually slow Internet or computers.
  2. Locked out accounts.
  3. A computer that turns on by itself.

Quick Tips To Deter Hackers

  1. Require all computers be turned off after hours.
  2. Maintain secure passwords and security software. Keep current with security software updates (or patches).
  3. Store customer records in a high level of security.
  4. Train employees on using only appropriate sites.
  5. Limit storage of client data on laptop or mobile devices.
  6. Back up your data daily. 

Cyber Liability Insurance Offers Real Solutions

Don’t forget that your business needs cyber liability insurance. Cyber insurance can cover:

  1. Data Recovery from electronic sources
  2. Data Recreation from non electronic sources
  3. System Recovery
  4. Business Income
  5. Customer notification costs
  6. Public Relations

US Select Insurance is an Independent Insurance Agency specializing in writing a complete range of insurance products from Business/Commercial to Personal

January 13th, 2015 by US Select Insurance LLC