October is the official month for cyber security awareness! This is an ideal time to not only enjoy the usual fall festivities but also to explore the actionable ways we can encourage insureds to prioritize the habits, routines, and solutions that best contribute to an overall good cybersecurity posture.
Conduct Security Audits
Insureds should take the opportunity to conduct comprehensive security audits. Regular audits allow insureds to assess vulnerabilities and address potential risks proactively. Insureds should ensure that their systems and applications are up-to-date and that security protocols are in place. You can help by generating a cybersecurity posture report (powered by Trava) directly in your Limit dashboard.
Enhance Password Security
Encourage insureds to ensure their teams use strong, unique passwords. Further, insureds should implement multi-factor authentication (MFA) wherever possible. If insureds need help with a world class password manager - Limit’s partnership with 1password can certainly help. You can access partnership details by visiting the Limit partner marketplace.
Backup Your Data
Data backups are an essential component of any cybersecurity strategy. Insureds should use this month to review and improve their data backup processes. Regular backups ensure that in the event of a breach or data loss, insured information can be swiftly restored with normal business operations resumed.
Test Incident Response Plans
Insureds should take a moment to pressure test their incident response plans by conducting drills and simulations. Cybersecurity Awareness Month is a perfect occasion to ensure that their teams know how to respond to a cyber incident, minimizing potential damage and downtime.
Update and Patch Software
Outdated software is a common entry point for cyberattacks. Insureds should endeavor to update their systems. This straightforward measure can significantly reduce vulnerabilities given security issues are often addressed during system updates.
Explore Cyber Insurance Options
Finally, encourage insureds to consider purchasing cyber insurance or consult with experts in the field. Cyber insurance provides financial protection in case of a data breach or cyberattack. It can cover the costs of remediation, legal fees, and potential liabilities, offering an additional layer of security for your organization. Discussing their unique needs with a cyber insurance expert can help them make informed decisions and ensure their coverage aligns with their cybersecurity risk profile.
This Cybersecurity Awareness Month, let's celebrate by adopting these proactive steps and best practices. By taking these actions, we can strengthen our insureds’ digital positioning and contribute to a safer world.
The Limit Perspective
Limit is a digitally-native wholesale insurance broker working on behalf of retailers in multiple lines of insurance and across the United States. Our platform allows you to:
- Obtain instant quotes from cyber carriers
- Find up to $3M in Insurance coverage automatically
- Receive a plan with customizable and comprehensive coverage
- 24/7 support
Limit is building a lean, tech-enabled business that can efficiently deliver insurance policies which are tailored to the needs of individual clients. We have taken some of the first steps to revolutionizing the industry and welcome you to learn more on our website: www.limit.com
Please reach out and connect with us and our representatives on LinkedIn as well.