Research conducted by Hiscox in late 2010 revealed that 75% of SMEs* do not feel completely confident that their office premises are safe from thieves and nearly a quarter (22%) are concerned about e-risks and cyber crime.
If you use the internet or email, the security of your office now involves far more than ensuring you have good door locks and alarms in place as criminals increasingly turn to cyber crime and the internet to defraud companies. The loss of a laptop or a smart phone, poor online security, or even employee sabotage can all lead to a business suffering from cyber crime.
Hiscox offers the following security tips to help small businesses to protect against online and offline risks:
Protect information with a need-to-know policy with employees. If storing information on a central file server, manage who has access to files. This can help prevent data loss, whether accidental or deliberate
Running an enterprise is a full-time activity and if you do not have online technical expertise seek professional advice on security. This can both save time and ensure the security measures cover the business needs
Encrypt important information for extra security so that only authorised users will be able to access them
Using the internet and email to conduct business means that data loss becomes a risk. Develop a clear email policy and raise online security awareness and issues with employees
Back up your files and check your insurance cover so that you can get business up and running again quickly in the event of an incident
Items like laptops and computer monitors are common targets for thieves and the real cost of a stolen IT asset isn’t just the hardware, it’s the lost data and the lost productivity. Lock servers in a room and move laptops into a secure drawer at the end of a working day
Your business might need insurance protection against cyber crime if you:
hold sensitive customer data, such as names, addresses or banking information
are reliant on computer systems to conduct your business
have a business website
are subject to a payment card industry (PCI) merchant services agreement.
How Hiscox cyber and data risks insurance protects your business:
A trusted partner in the event of a claim. Financial compensation is not all that’s needed to deal with these new and evolving risks. So Hiscox will not just pay out when you suffer a loss, but will also provide you with access to a team of experts who will actively work with you to minimise your loss and the possible damage to your business.
Specialist expertise. We’ve been providing cyber and data insurance for 14 years, so we understand the changing risks that businesses face and have evolved our product to protect them.
Access to a worldwide network of privacy lawyers and technical specialists who will offer expert support and guidance in the event of a claim.
Access to Hiscox eRiskHub. We give access to tools and resources to help you stay up to date with evolving risks, understand your exposure and establish a response plan.
In the unfortunate event that your business does suffer a cyber crime, our knowledgeable and efficient UK-based claims team will quickly be on the case.
To find out more about Hiscox cyber and data risks insurance, see our policy documents >
* Research of 1,000 SME owners was carried out on behalf of Hiscox by RedShift in 23 November to 5th December 2010