Coronavirus - Cyber Risk Protection

By Michael Wood Head of Performance

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We understand at this moment in time that many businesses are looking to reduce spend where possible.

Whilst we want to reassure you that we are not looking to try and increase your insurance cost at this time, it is our duty as your insurance broker to let you know of things you need to be looking out for and considering in order to protect your business.

Cyber criminals are exploiting any vulnerability

Cybercriminals are wasting no time in taking advantage of the current climate and widespread fear caused by Coronavirus.

With many employees now working from home, it is important for businesses to consider the cyber security risks associated with remote working. Companies rarely have the expertise or resource to combat cyberattacks, and with the effects of Covid-19 this is only going to worsen with staff shortages. Criminals are exploiting any vulnerability – be it targeting technology weaknesses, or human error through sophisticated social engineering manipulation.

It is often said that humans are the weakest link when it comes to cyber risk. However, as phishing emails continue to make it into our inboxes, it’s clear that technology is failing to identify and prevent them. Therefore, the task of catching what technology is letting through falls to us, by being prepared, identifying and reporting all suspicious emails we receive.

Read the full article and see some examples of phishing emails on our parent site, Aston Lark.

Take a ‘belt and braces’ approach

Criminals know this is a time when organisations are sending critical communications, and people are going to be more susceptible to these types of phishing scams.

There are no absolutes in risk management. With core business functions and objectives being affected, a ‘belt and braces’ approach is required that reduces the risk with timely security protocols. Cyber insurance is a vital protection for organisations against the fingers and thumbs dynamic, especially at a time when we are all pre-occupied with keeping ourselves and our loved ones safe.

Speak to your usual Performance Film & Media contact for further information about Cyber Risk Protection or contact us here.

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Performance is a trading name of Howden UK Brokers Limited, which is authorised and regulated by the Financial Conduct Authority No. 307663. Registered in England and Wales under company registration number 02831010. Registered Office: One Creechurch Place, London, EC3A 5AF. Calls may be monitored and recorded for quality assurance purposes.