February 24, 2024

As the digital world evolves, so does the risk of cybercrime. Do you have the protection needed for the threats you face?

With the recent increase in working, studying, and entertaining families at home, we are all relying on technology more than ever – but at what risk? With more ways to be online come more opportunities for cybercrimes to occur such as identity theft, hacking, and cyberstalking. We are dedicated to helping you understand the risks associated with your devices and mitigating those risks before and after a cybercrime occurs.

What’s covered by cyber insurance?

Cyber insurance is meant to help prevent cybercrimes from happening to you and your loved ones, and will help resolve the issues you face should you become a victim. Highlights of cyber insurance include:

  • Reimbursement for expenses incurred to replace lost or stolen digital property
  • Replacement of stolen money from your account
  • Coverage for fraudulent activity, stolen personal data and electronic content
  • Partnership with experts who can evaluate your cyber vulnerabilities, understand how and when to respond to ransomware, and clean up your identity if it is stolen
  • Coverage of cost to hire public relations, legal and digital forensic teams to help you recover from criminal activity

In addition to the protection guaranteed from cyber insurance, there are also a variety of proactive measures you can take to prevent cybercrimes from happening and keep your information from getting into the wrong hands.

Create strong passwords and keep them to yourself

  • Choose combinations of lower and upper-case letters, numbers and symbols when creating passwords, and remember to change them periodically. It’s also wise to create unique passwords rather than using the same one or two for each device and account. While remembering multiple complex passwords can be difficult, it can help to use password management software which can provide and save passwords for everything you need.

Use multifactor authentication

  • While you can create multiple strong and unique passwords for your devices, traditional user login and password accounts are easy for criminals to crack. To prevent this, set up multifactor authentication whenever possible. This will require you to provide at least two proofs of identity before you can access protected data. This is a simple second line of defence against cyber criminals and their tricks.

Refrain from oversharing on social media

  • Cyber criminals are constantly targeting social media accounts, but there are ways to keep them from hacking into yours. When it comes to social media, be selective about sharing the intimate details of your life such as your location, hometown, birthday, and other personal information. It is also wise to check your privacy settings so you are aware of who is viewing your posts and activity.

Use free Wi-FI in public places with caution

  • Most free public Wi-Fi networks have very few security measures in place. It is best to wait until you are on a private, secure network before accessing any personal or financial information so that others using the same free Wi-Fi aren’t able to access your activity.

Be selective when opening links and attachments

  • Cyber criminals often attempt to trick people into thinking a malicious email link is something important or informative, and can then use that link to gain access to your personal and private information. If you’re unsure about the source it was sent from, do not click the link or open the attachment.

Choose your apps wisely

  • Only download apps from trustworthy sources that have established a good reputation. Make sure you update your software and apps regularly and remove old apps that you don’t use that could still be storing your personal information. You should also make sure that the apps you are using are all up to date.

Verify that websites being used are secure

  • Before entering any personal information into a website, take a look at the top of your browser. If there is a lock symbol and the URL begins with “https,” it means that the site has been verified as secure. Other ways to determine the legitimacy of a website includes checking the website’s privacy policy and contact information, or looking for a “verified secure” seal.

Set up automatic locks

  • In case your device is ever stolen or lost, you can make sure that your data is secure by setting it to lock after a certain amount of failed login attempts, which will prevent cyber criminals from accessing your data.

Ensure that your smart devices are up to date

  • With more technology comes more opportunity for cyber criminals to hack into smart appliances, homes and toys – especially if they are not protected with strong passwords. Be sure to change the default password that the device comes with, and update the software regularly. You should also monitor how your children use their smart toys, and remember to turn them off during private discussions.

To discuss your policy or your eligibility for cyber insurance, contact our experienced team of brokers today.