The Value Of Cyber Security

Jun 24, 2021, 1:48 PM

It’s not just for massive corporations — and it doesn’t have to be complicated.

We recently had a meeting with some of our agent partners online, talking about our relationships and business. The good news was that, by now, everyone is pretty familiar with the technology, and there were no problems using a computer for the meeting.

The bad news was something one of the participants said: that cyber security, protection against hackers, spammers, and phishing, doesn’t seem to be important to many policyholders.

The thought is that maybe it’s kind of abstract — that nefarious internet users only go after massive corporations with large bank accounts, or that a con artist’s email is going to be so ludicrous that it will be obvious when it pops up in your inbox.

That’s simply not true, experts say. In fact, your data is probably up for sale by someone right now, even if you just get online to chat with friends and do a little shopping.

What you can do

There’s cyber liability coverage from Hastings Mutual, to begin with. Cyber liability coverage helps you recover from a loss of data and prevents further damage, like having to pay a ransom. Businesses can benefit from the data breach response part of the coverage, which includes:

Advertising and public relations
Credit monitoring and ID assistance
Legal and forensic information technology review
Notifying affected individuals
Paying a reward for information

It’s a topic I’ve talked about before but as we heard from our agent guests it’s a little tougher to get their customers to appreciate. So maybe the best bet is to make sure your home computers and those at your workplace are protected, and encourage others to be aware of the warning signs of an online attack:

1. Suspicious emails, texts, and messages

The Hastings Mutual guideline is simple: Ask yourself if you were expecting an email from the sender. If not, be suspicious. Call the person and ask them if they sent it or let your email provider (or someone on your tech team) know you received something shady.

2. Use multi-factor authentication

MFA requires more than just one way to log in to an account; for example, you might have to look up a code on your phone and enter that into a separate computer for access.

3. Use strong passwords

Don’t use the same password for more than one account, and don’t leave your password lying around on a scrap of paper!

Those are just a few ways to get started protecting your online presence. Talk with your local independent insurance agent about Hastings Mutual Cyber Liability coverage to take that next step.

What’s the best way to protect your data from a hacker? Let me know in the comments.

The Mutual Understanding blog and Hastings Mutual videos are made available for educational purposes only. The information referred to is not an official company statement, corporate policy, or offer of coverage. Refer to your insurance policy for specific coverage. There is no representation as to the accuracy or completeness of any information found by following any link on this site. Please contact your local independent insurance agent with further questions and for more details on any insurance policy-related information you read here.

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