Cyber insurance 101

What is cyber insurance

With cybercrime becoming a major threat to businesses across the world, irrespective of their size, cyber insurance is fast becoming a necessity more of a necessity than a choice. However, the concept of cyber insurance is still fairly new and not many SMBs are aware of its benefits. Cyber insurance is an insurance that covers your liability in the event of your business becoming a victim of cybercrime. For example, a data breach puts you at risk of lawsuits, makes you liable to your customers/other parties whose data has been compromised because of/via your organization. Cyber insurance covers the financial aspect of such liabilities, making it easier for you to deal with them.

Why do you need cyber insurance

Many organizations think of cyber insurance as an added cost. They believe they don’t need it for various reasons.

Bigger organizations think their IT security measures are watertight and they won’t fall victim to cybercrime, and they also tend to believe that even if they are affected in a one-off case of cybercrime, they are solid enough to discharge their liabilities and come out of the incident with their brand value intact.

SMBs, on the other hand, think cybercriminals are most likely to target the bigger players and they don’t need cyber insurance. But, in reality, it is the smaller businesses that are at a greater threat–primarily, because

  1. They lack the resources to strengthen their IT infrastructure and their staff is less likely to be trained in identifying cyber threats, making them more vulnerable
  2. They are less likely to recover from the damage to their financial and brand health as a result of falling victim to cybercrime

The bottom line is, every organization–big or small, needs cyber insurance today. Cyber insurance, however, is not a replacement for cybersecurity. Having cyber insurance doesn’t mean you can be lax about cybersecurity. It is meant as a buffer, to help.your business survive when something slips through the cracks. An MSP can help you tighten your cybersecurity and prevent data breaches and other untoward incidents. Also, being well versed with the IT industry, your MSP can help you understand the IT risks that you need to get covered for. They can also help you pick out the right cyber insurance policies, in some cases, some of them even being insurance advisors or agents.

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SD WAN – What’s up with that?

So what is this SD-WAN that you have been hearing about? SD-WAN, the acronym for Software Defined Wide Area Network is a new take on the traditional Wide Area Network (WAN). A standard WAN’s goal was to connect users at a branch to a main campus or central office. A WAN is fundamentally hardware-based, using routers to connect users to a central data center. Network administrators or engineers determine how data is moved across the various communication lines. WANs no longer are effective it handling the multi-directional, low-latency demanding applications that have arisen in the workplace of today. There are multiple drivers that encourage the adoption of SD-WAN technology, but security and the rise of cloud data storage and SaaS applications are key among them. The other is cost. Traditional WANs can involve considerable CAPEX costs. They also involve more cumbersome and labor intensive administrative activity that can be streamlined by moving towards a software defined model. WANs are not “agile” and the SD-WAN model increases real-time flexibility in handling traffic.

Why might you consider SD-WAN? Most likely as your organization increases its use of cloud and SaaS services. One simple example. Under a WAN model, users have to experience “backhauling” from their location to the data center or “headquarters” before they can access the cloud. This basically means taking the long route. It slows the user experience. It also doesn’t make a lot of sense because it uses a hub and spoke model. Think back to when most major US Airlines used the hub model. All of their flights routed through one or two hub airports, so no matter where you wanted to go, you had to fly to the hub, then back out again. It was not a user-friednlty experience, and it certainly wasn’t efficient use of a flyer’s time. And, if weather or some other disruption slowed traffic our of the hub, the entire system suffered delays. The WAN model, suffers from a similar problem. SD-WAN works to address that.

Also, a WAN can reroute traffic in real-time. This can mean greater efficiency and optimization of traffic routing and resources. As your organization increases the complexity of your users’ access needs, you should talk to your Managed Service Provider about the pros and cons of moving toward a SD-Wan model.

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Good Fences Make for Secure Data

Investing in firewalls, anti-malware and data encryption software

Firewalls and anti-malware tools can help you by keeping unwanted actors out of your IT network. These tools work by restricting access to only pre authorized users and these are primarily defensive measures. Data encryption software, on the other hand, is more proactive and works to code your data and store it in a different form such that it makes sense to only those who are authorized to access it, using a decryption key. Proactive measures are your strongest approach to data protection.

Timely security patches and updates

Make sure you apply security patches and perform software updates on time. Usually software makers release product updates and security patches when they find vulnerabilities and security lapses in their software. Don’t ignore those alerts that a software upgrade is available. It may contain more than just a few new features. The timely application of these patches and updates ensures that the discovered vulnerability is not exploited by cybercriminals.

Seems like a lot of work? Not if you outsource it to a trusted MSP partner.

While cybersecurity is indispensable, trying to do it all in-house can be complicated and expensive. Signing a service agreement with a managed service provider (MSP) to manage your IT infrastructure is a great solution to this challenge. You can benefit from their expertise, knowledge and staff strength, without having to worry about getting it all done on time.

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SMB and Some Basic Employee Security Issues

SMB and Some Basic Employee Security Issues

Training teams

Your employees are your first line of defense. Training is a basic requirement and should be conducted for every employee. This necessitates involving Human Resources so that businesses incorporate cyber security training from the first day of onboarding. must train their employees on cybersecurity best practices and also constantly update them with information about the latest scams and techniques adopted by cybercriminals. This will help employees identify situations where they may end up becoming victims of cybercrime or unwittingly compromise the organization’s cybersecurity. Untrained employees may end up becoming unintended participants in cybercrime.

BYOD Policy

With remote operations becoming the norm, organizations must spell out the dos and don’ts for their employees who are using personal devices for work. While there’s not much that companies can do to monitor and restrict usage when employees use their personal devices, a broad framework of best practices will certainly help. Addressing the details of how your data is accessed remotely is a very important part of a total BYOD policy.

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How the Coronavirus crisis is the gateway to the other kind of virus

How the Coronavirus crisis is the gateway to the other kind of virus

To say the COVID-19 pandemic gave the whole world a tough time would be an understatement. Economies collapsed, joblessness rose, people lost their loved ones and livelihoods to the disease. Adding to this situation was the need for social distancing and self-isolation which took a toll on mental health of millions across the world. 10 months into the pandemic or perhaps even before, people started growing tired of it and just when it seemed like humankind will give up collectively, there was a light at the end of the tunnel–Vaccines.

While the news of the first vaccine being approved and then administered in December 2020, was a huge victory for humankind and rightly welcomed with claps and cheers, cybercriminals were cheering too. For cybercriminals, this was a great opportunity to exploit the eager, mentally fatigued and vulnerable populace. Emails were sent with phishing links disguised as genuine which urged the recipients to fill a form to access their vaccination schedule and vaccine information. Some emails were made to look like it came from the FDA, United States CDC or the NHS (UK). Some had attachments that required recipients to download them and run exe (executable) files that planted malware into their systems. “E-commerce” sites were created overnight on the dark web and enticed people into ‘placing orders for vaccines’ at $250 each, in the ‘Black market’.

The point is, this is not the first organized cybercrime modus operandi and certainly won’t be the last. So, how do you protect yourself? Here are a couple of tips.

  • Do not download or open attachments or click on links from unknown, unverified sources or a source that you don’t trust.
  • Sometimes, the email or message may seem to be from someone you trust, but their account may have been compromised and used to send out the malicious link or attachment to you. Or, there may be a slight variation in the email ID (spelling), so while you get the impression it is a genuine email, the reality is different.
  • If something doesn’t add up, or if it doesn’t feel like the message was in fact written by the person you know, either ignore or call and verify if they did indeed send it to you.
  • Install firewalls that have the capability to identify and block dangerous sites, so you will be alerted of possible security threats and inadvertent clicks won’t take you to dubious clone sites
  • Make sure your antivirus software is up-to-date

From a business perspective, discuss a strong cybersecurity plan of action with an MSP. This includes investing in the right anti-malware tools, ensuring all your software programs are updated, and updating security patches released by your software vendors as soon as they are available. Educate your staff on common cybercrime tactics so they don’t accidentally expose your IT network to cybercriminals.

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Your employee’ social media account was hacked How does it affect you?

Your employee’ social media account was hacked. How does it affect you?

Did you know that social media accounts are one of the favorite targets for cybercriminals? You may think cybercriminals would prefer to hack online banking accounts or shopping accounts, but that doesn’t seem to be the case. Here’s why. Social media accounts hold A LOT of personal information including name, email ID, date of birth, place of birth, place of work (your business!) high school attended, names of family, friends and pets, anniversaries, and more…which means, they are basically gold mines of Personally Identifiable Data (PII). Plus, if you play games and have your credit card details saved, there’s more information and better the chances for the cybercriminal to commit fraud. All of this data can then be used to hack into other accounts of the user, including financials. So, hacking into someone’s social media account can help cybercriminals gain entry into other, more ‘useful’ and secure accounts.

But, how does it matter to you, as a business? If your employee’s personal social media account is hacked, it shouldn’t affect you, as a company, right? Wrong…here’s how it can affect you.

  • If the employee whose social media account is hacked is the administrator of your company’s official social media handles, you are in big trouble as hackers will gain access to your company account and consequently to customer information, because you may be having clients who follow your business account on social media. The whole situation can result in a lot of damage to your business and brand reputation and also result in penalties and possible lawsuits.
  • Even if your employee doesn’t handle your company’s social handles, the hackers may have enough of their PII to try and pry open a small entryway into your IT network.

You can avoid such mishaps by

  • Training your staff on social media and cybersecurity best practices including advanced privacy and permission settings for social media accounts
  • Ensuring your employees are able to identify and steer clear of phishing and social media frauds
  • Helping your employees understand the importance of practicing good password hygiene across all their online accounts–social, work or personal.
  • Ensuring they realize that their Facebook or LinkedIn account is not ‘just another online socializing platform’, but an actual gold mine of information and only those who they really trust should be able to access them.
  • Sharing regular Day Zero Alerts and relevant news articles with your staff that keeps them updated on the latest modus operandi and happenings related to cybercrime

Your managed IT services provider will be able to help you in organizing and conducting these kinds of training and awareness sessions at regular intervals for your staff.

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Are your data security measures strong enough?

Are your data security measures strong enough?

Let me start this blog by asking you a question. How did your business respond to the security threats brought on by the COVID-19 pandemic? The reason we are discussing this is because a recent survey conducted by Password Keeper and Ponemon Institute revealed that during the 2020 Coronavirus pandemic, the effectiveness of organizations’ IT posture in terms of cybersecurity dipped by almost 30%.

One of the main reasons for the compromise in IT security was the hurried transition of so many businesses to the remote work model. Working from home often meant the staff were using their personal computers to access work data, sometimes, even on shared WiFi networks without the latest software updates, security patches and firewalls–all invitations to cybercriminals. But, the research also pointed out that almost 50% of the respondents were also concerned about the physical safety of their data. When employees work from home, business data is stored on their personal devices. This includes personal laptops, desktops, thumb drives, external hard disks and sometimes, even smartphones and tablets. Ensuring the data stored in such a manner is not lost, stolen or inadvertently made public is a huge challenge. The cloud can help resolve this challenge to some extent. By migrating your data to the cloud you get a range of benefits such as

  • It is easily accessible-from anywhere, anytime using an internet enabled tablet, computer or even a smartphone
  • The cloud service provider offers multiple layers of security to keep your data safe from prying eyes
  • There is no chance of losing data due to misplaced thumb drives or computer hard disk crashes

An MSP offering cloud services will be able to assist you in making the transition from physical data storage to the cloud smoothly. They can also address cybersecurity concerns and offer solutions. However, migrating to the cloud alone is not the solution to all data security issues. You will still need to train your staff on how to identify and avoid malware attacks, phishing scams and to practice basic password hygiene and data security best practices.

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WFH is here to stay Are you ready?

WFH is here to stay. Are you ready?

The year 2020 was nothing like what we had seen before. At a certain point in time, it felt like the world would come to a standstill. With lockdowns and travel restrictions imposed across the world, businesses were pushed into a ‘new normal’. One of the things that was a part of the ‘new normal’, was working from home. This WFH set up brought along with it multiple challenges, especially to those organizations which weren’t into this model already. Accessing critical work information, carrying out meetings on Zoom, attending conferences remotely and even setting up trade show booths online, were all new concepts. While the pandemic may be temporary, one thing is certain–the remote work culture is not.

WFH existed even before the Coronavirus pandemic. There were a sizable number of companies–primarily in the IT industry that routinely hired remote workforce. Freelancers operated remotely too for the most part. However, the pandemic forced every company that can operate remotely to adopt the WFH model. While the initial switch was cumbersome, challenging and even frustrating, the benefits offered by the WFH model can’t be discounted.

Here’s how it benefited employees:

  • Helped save time and money that would otherwise be spent on commuting from home to work
  • Offered greater flexibility, as working from home let employees choose their working hours, at least in some cases
  • They needed fewer days off as things like staying home and caring for a sick child/spouse or an elderly parent didn’t mean having to take a day off work anymore
  • With lesser workplace oriented distractions, they were able to accomplish more in lesser time, which means they had more personal time and a better work-life balance

From the organizational perspective, work from home:

  • Meant more productive, focused, energetic employees with workplace distractions and long commutes eliminated
  • Resulted in lesser absenteeism as employees had flexible work schedules and could be home when their presence was needed, without having to take a day off
  • Helped them save on costs related to maintenance, utilities and employee recreation that they would be otherwise incurring
  • Can help companies save on huge rental expenses by trading larger office spaces for smaller/shared workspaces and conference rooms

So, there’s no doubt that the trend of WFH will continue well beyond this pandemic and become a norm in daily lives. It seems to be creating a win-win situation for both, the employees and the organizations they work for. However, for WFH to function smoothly, you need to have a solid IT infrastructure ensures the transition from the traditional office setup to the WFH model is smooth and the integration between the various elements involved in the new WFH environment is seamless.

Are you ready to switch to the WFH mode? It’s time to get in touch with a managed IT service provider who can help you make this move.

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Data security in the ‘Work-from-home’ environment

Data security in the ‘Work-from-home’ environment

2020 threw a lot of challenges at the world. One of them, from the business perspective, that overshadowed the others was cybersecurity. How to ensure data safety and security in an environment where businesses can’t really control what employees do even during work hours? With the world almost a year into the pandemic, new best practices emerged that will be in use not just during the pandemic, but probably also in the future, post-pandemic era. Because the trend of working from home now seems to be here to stay. This blog will discuss some best practices for data security that can be deployed when working remotely.

  • If you can provide your employees with a computer that they will solely access for work, then that solves the majority of the issues. When employees use their own devices for accessing work data, the risk of a security breach is higher as businesses don’t have any control over staff’s personal devices. Your employee’s computer may have security loopholes such as pending updates and security patches or unauthorized software programs. If, instead, it is a company device, you can install control mechanisms that limit what your employees can do with the device. You can impose firewall restrictions, make it a part of your intranet and also monitor employee activities freely.
  • If you are allowing employees to use their personal devices for work purposes, you can encourage them to keep their device safe by alerting them about software updates, security patches and offering to install the latest version of antimalware software for their devices. This is a win-win situation for you and your employees, as you get to keep your data safe, while they get to keep their device and personal data secure.

In either case, you need to educate your employees on the basics of data security. These include password hygiene, identifying phishing attempts, attachment hygiene, etc.

Don’t forget the cloud! The cloud can help you keep your data safe and secure even in the remote working environment by adding layers of data security and eliminating storage of data on local hard drives and removable storage devices. Contact a cloud service provider today to learn more!

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How the cloud is a solid survival tool for your business during a crisis

How the cloud is a solid survival tool for your business during a crisis

One thing the Coronavirus pandemic taught businesses is the fact that it is important to move with the times and adopt and adapt to the latest technology. While you don’t have to be the first one in the market to invest in the newest technology, once its effectiveness and usefulness is proven, it does make sense to switch to it. Here’s how the cloud allowed businesses to overcome the challenges posed by having to suddenly switch to the remote operations model.

Challenge-1: Access to critical data and applications

This could have been easily resolved by migrating to the cloud. The cloud offers unparalleled connectivity to your data—from anywhere and at any time, with any internet-enabled device.

Challenge-2: Data safety, cybersecurity concerns

The cloud provides solutions to data safety and cybersecurity challenges as well, as data stored in the cloud is naturally much safer and difficult to break into than data stored on your employee’s home computer. The cloud offers multiple layers of security, including some from your cloud service provider.

Challenge-3: Data loss

With the cloud, businesses wouldn’t have to worry about losing data, as it wouldn’t be stored on their employee’s personal computer, but at a centralized location in the cloud.

Challenge-4: Hardware issues

The cloud rendered any hardware issues non-existent, as the employee’s personal devices were just gateways to access their work stored in the Cloud. They needed devices that met the basic specifications, and the rest of the work was happening online, without additional load on personal devices.

Challenge-5: Phones

Businesses that had adopted the VoIP (Voice Over Internet Protocol) were able to overcome this challenge easily. VoIP allows you to communicate by sending voice as data packets using the internet. The VoIP system is primarily software-based and can be accessed from anywhere, using an application that your VoIP provider offers. (Physical instruments are optional). This meant, companies with VoIP systems could keep their office phone numbers responsive even when their staff were working from home.

While these technologies can help a great deal to maintain business continuity, you will need the assistance of a reputable MSP to deploy them and also to ensure they are functioning as they are supposed to. Plus, there are always other security concerns that crop up in a remote working environment when you can’t monitor your staff’s IT activities. Your MSP will be able to offer solutions and control mechanisms that can help put those concerns to rest.

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