According to NTT security’s 2017 Global Threat Intelligence Report, over 6.2 billion cyber security attacks have happened across the globe in 2017 alone. In 2018, the number of attacks on the finance sector increased, rising to 26% from 14% while ransomware detection increased by a staggering 350%, to account for 7% of global malware in 2017.

Every organisation should be making security a requirement to protect their business. Having the right cyber policy is more than just avoiding the risk or virus from transferring to your data, but ensuring in the unthinkable event it does happen, your business can still continue operating and your company’s sensitive information is well protected.

Ransomware is a type of malicious software or malware as they call it to block someone’s access to their files. In some cases, it can also lock up your machine, encrypting important data and files demanding a ransom to be paid in order to resolve the problem. Just imagine even after paying the ransom and having your files restored, do you have the confidence and trust that those files haven’t been tampered with?

All companies are exposed and vulnerable to cyber threat. With that, every organisation should start taking preventive measures to protect its data:

1.Backup your data regularly – you never know when an attack is going to happen, so always store them on a separate source or a cloud storage where your important files are not easily accessible.

2. Keep your systems up-to-date – ensure that your plug-ins, operating systems are updated frequently. Purchasing anti-virus software programs also adds on as an additional layer of protection to keep you and your business at ease.

3. Inform your employees to be extra cautious with spam emails – it’s good to keep everyone updated and remind them from time to time to never download unknown files or click ‘open’ from an unknown sender whenever they receive a suspicious email.

At East West Insurance Brokers, our professional and experienced broking team can arrange a tailored cyber protection insurance policy for you. While we can’t foresee your company being cyber attacked, we can help you safeguard your financial losses by providing the right coverage in place for you.

Take the time to talk to us, you’ll be glad you did:

P: 1800 809 132
E: hello@ewib.com.au
W: www.ewib.com.au

*Please note all insurance policies have exclusions. Please refer to the Product Disclosure Statement or Policy Wording before deciding whether the insurance policy meets your needs.

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