by Scott Schleicher, Underwriting Manager, Cyber & Technology – AXA XL
With cyber attacks on the rise, it’s important for organizations to be ever vigilant in their part to support cyber security initiatives and protect the safety of their valuable assets. The piece below, by Scott Schleicher, reminds Preferred members of the potential impacts of a cyber attack and resources available to them to help stave off these online assaults.
QUESTION:
What are some of the potential impacts of a cyber attack on a public entity or local government organization?
ANSWER:
- Huge ransomware payments
- Loss of data
- Unavailability of networks
- Disruption of daily business
- Disruption of daily business
- Damage to reputation of elected officials
- Potential unaffordability/unavailability of future cyber insurance
QUESTION:
What are the most important things that public entities can do to avoid/prevent a cyber attack?
ANSWER:
The most important thing is education. All employees must be able to identify a suspicious link, attachment or phishing email; Back up data must be stored and completely segmented from the active network.
As a Preferred member you have free access to substantial Cyber Security Awareness resources, which include the following: Preferred Risk Management Resource Center – available to members who place their EPLI-related coverages with Preferred.
Cyber Security Resources include:
- Cyber Assessment – Easy-to-use tool to measure data breach exposure with instant feedback on how to protect your organization from potential cyber risks.
- Unlimited access to call or email Cybersecurity experts.
- Robust privacy and security templates, including a customizable incident response plan (IRP), which can be specifically tailored to meet industry and regulatory requirements.
- Resources for keeping staff up to date on a range of issues related to privacy, data security and compliance.
- Latest news and events regarding data breaches, regulations, class-action lawsuits, cyber threats and protective Technologies.
Vector Solutions | TargetSolutions – available to all Preferred members. Vector Solutions online cybersecurity training catalog features courses with up-to-date lessons for browser, email and password security to improve cybersecurity awareness amongst employees and mitigate risks to your agency’s data.
Cyber Security Awareness courses
- Cybersecurity Awareness for Employees: Classifying and Safeguarding Data for Corporate and Personal Use
- Cybersecurity Awareness for Employees: End-User Best Practices
- Cybersecurity Awareness for Employees: Security Awareness Essentials
- Cybersecurity Awareness for Employees: Social Engineering (list the RMRC resources)
Questions? Please contact your Preferred Loss Control Consultant.