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How can businesses protect themselves from cyber attacks?

How can businesses protect themselves from cyber attacks?

On 17 November 2021, Internet domain registrar and web hosting company GoDaddy Inc. fell victim to a massive data breach, due to what is believed to be a phishing attack.

According to GoDaddy’s statement, up to 1.2 million active and inactive Managed WordPress Hosting customers had their email addresses and customer numbers exposed. For active customers, their sFTP database usernames and passwords, along with the SSL private key of some users, were also endangered.

An internal investigation into this cyber attack is being carried out. GoDaddy has reset the passwords for all active customers and are contacting each of them with details.

Cyber attacks are terribly common occurrences all across the world.

So how do businesses guard themselves against this ever-increasing risk?

By purchasing Cyber Security Insurance!

This kind of a policy covers a wide range of risks, such as :

  • E-financial or E-communication loss
  • E-vandalism, threats and extortion
  • Business interruption brought on by a cyber attack
  • Costs of public relations consultants, crisis managers, or negotiators

It also covers third party liabilities including

  • Customer data disclosure
  • Copyright infringement
  • Reputation liability
  • Impaired access to systems
  • Legal costs, etc.

Cyber Security Insurance can offer businesses a much needed financial safety net in the wake of rising cyber attacks.

While cyber theft has been increasing steadily, the theft of physical stores continues to pose great problems for businesses. Learn how Jewellery Stores cover robberies and burglaries