22Aug

Why Traditional Businesses Need Cybersecurity Insurance

Traditional businesses are vulnerable to cyber threats such as data breaches, hacking, and phishing scams. As technology evolves, so do the risks of cyber attacks. Cybersecurity insurance can help mitigate these risks and protect your business from financial losses. In this blog post, we’ll discuss why traditional businesses need cybersecurity insurance, the different coverage options, and best practices for network security.

Understanding Cybersecurity Insurance for Traditional Businesses

Cyber threats can take many forms, including malware, ransomware, social engineering attacks, and insider threats. Traditional businesses must be aware of these risks and take proactive measures to prevent them.

Here are some ways in which cyber attacks can pose a threat to such a business:

Operational Disruption: Cyber attacks like Distributed Denial of Service (DDoS) attacks can overwhelm a business’s digital infrastructure, causing websites to go offline or systems to become inaccessible. This disrupts normal operations and can lead to loss of revenue.

– Intellectual Property Theft: Businesses often hold valuable intellectual property, such as trade secrets, proprietary algorithms, and product designs.

Reputation Damage: A cyber attack can lead to negative publicity and harm the business’s reputation. Customers may lose trust in the company’s ability to protect their data and privacy.

Supply Chain Attacks: If the business relies on third-party vendors or suppliers, cyber attacks targeting these partners can indirectly affect the business. Compromised suppliers might lead to the distribution of malicious software or insecure products.

Coverage Options for Cybersecurity Insurance Policies

Cybersecurity insurance policies can cover a range of losses, including data breaches, business interruption, and cyber extortion. It’s important to understand the coverage options available and choose the right policy for your business needs.

Factors that Affect Insurance Premiums

The cost of cybersecurity insurance premiums can vary depending on factors such as the size of your business, the type of industry you’re in, and the level of risk you face. It’s important to assess your cybersecurity risks and choose a policy that provides adequate coverage at an affordable price.

Choosing the Right Cybersecurity Insurance Policy

Before you can choose the right cybersecurity insurance policy, you need to assess your business’s cybersecurity risks. This involves identifying potential vulnerabilities and determining the likelihood and impact of a cyber-attack.

Identifying the Right Coverage Options

Once you have considered your cybersecurity risks, you can identify the coverage options that are most relevant to your business. This might include coverage for data breaches, business interruption, and cyber extortion.

When choosing a cybersecurity insurance policy, comparing policies and insurance providers is important to find the best fit for your business. Look for a provider with a good reputation, clear terms and conditions, and competitive pricing.

Mitigating the Risks of Cyber Threats with Cybersecurity Insurance

Traditional businesses should develop a cybersecurity policy to mitigate the risks of cyber threats. This policy should outline best practices for network security, such as employee training, software updates, and access controls.

In addition to developing a cybersecurity policy, traditional businesses should implement best practices for network security. This might include using firewalls, antivirus software, and encryption technologies and regularly backing up data and monitoring network activity.

Finally, it’s important to regularly review and update your cybersecurity insurance policy to ensure that it continues to meet your business’s needs. This might involve reassessing your cybersecurity risks, adjusting coverage options, or switching to a different insurance provider.

Traditional businesses are increasingly vulnerable to cyber threats, and cybersecurity insurance can provide important protection against financial losses. By assessing your cybersecurity risks, choosing the right policy, and implementing best practices for network security, you can mitigate cyber-attack risks and protect your business from harm.

4Aug

Cyber Liability Insurance: Safeguarding Your Business in the Digital Age

In today’s interconnected world, especially in Hong Kong, businesses rely heavily on technology and digital platforms to operate efficiently and effectively. While this digital transformation has brought numerous benefits, it has also exposed businesses to new risks and vulnerabilities. Cyberattacks, data breaches, and other cyber incidents can have serious financial and reputational consequences. This is where cyber liability insurance comes into play.

Understanding Cyber Liability Insurance

Cyber liability insurance, also known as cyber insurance, is a type of insurance coverage designed to protect businesses from the financial losses and liabilities associated with cyber-related incidents. These incidents can include data breaches, hacking attacks, ransomware, malware infections, and other forms of cybercrime.

cyber liability insurance in Hong Kong 101

Key Components of Cyber Liability Insurance

1. Data Breach Coverage: This aspect of cyber liability insurance helps cover the costs associated with a data breach. This could include expenses for notifying affected individuals, credit monitoring services, legal fees, and public relations efforts to manage the reputational fallout.

2. Third-Party Liability: If your business’s cyber incident results in legal claims from customers, clients, or other affected parties, cyber liability insurance can help cover the costs of legal defence, settlements, or judgments.

3. First-Party Coverage: This component addresses the costs incurred by your business directly due to a cyber incident. It can include expenses for forensic investigations, data restoration, business interruption losses, and even extortion payments in the case of ransomware attacks.

4. Regulatory Compliance Costs: Depending on your industry and location, you might be subject to specific data protection and cybersecurity regulations. Cyber insurance can help cover costs related to regulatory compliance, including fines and penalties.

5. Crisis Management and Public Relations: If a cyber incident becomes public knowledge, your business’s reputation could be at stake. Cyber liability insurance can provide coverage for crisis management and public relations efforts to mitigate reputational damage.

Why Cyber Liability Insurance Matters

1. Rising Cyber Threats: Cyberattacks are becoming more sophisticated, targeting businesses of all sizes. Even small businesses can be vulnerable, as hackers often view them as easier targets with potentially weaker cybersecurity defenses.

2. Financial Protection: Recovering from a cyber incident can be expensive. Costs can include legal fees, IT forensics, notifying affected parties, and repairing damaged systems. Cyber liability insurance helps offset these costs and prevents a significant financial strain on your business.

2. Reputation Management: A cyber incident can erode customer trust and damage your business’s reputation. Having cyber liability insurance can provide resources for managing the public relations aspect of such incidents, helping you rebuild trust with stakeholders.

3. Legal and Regulatory Consequences: Failing to adequately protect customer data can result in legal consequences and regulatory fines depending on your location and industry. Cyber insurance can help cover these expenses and ensure compliance.

4. Business Continuity: Cyber incidents can disrupt your business operations, leading to revenue loss and operational challenges. Cyber liability insurance can provide coverage for business interruption and help you get back on track faster.

Is Cyber Liability Insurance Right for Your Business?

The short answer for Hong Kong businesses is “yes”.

Every business is unique, and the need for cyber liability insurance depends on factors such as your industry, the volume of sensitive data you handle, and your overall cybersecurity posture. If your business processes customer data, conducts transactions online, or relies heavily on digital operations, cyber liability insurance can be a valuable investment to protect against cyber risks.

Before purchasing cyber liability insurance in Hong Kong, evaluate your business’s specific cyber risks, review policy terms and coverage limits, and consult with insurance professionals to ensure you’re getting the right coverage for your needs. With the right cyber liability insurance in place, you can navigate the digital landscape with greater confidence and resilience.

2Apr

How AI Can Improve Your Brick and Mortar Store

Hong Kong’s retail market is highly competitive, and businesses need to stay up-to-date with the latest technologies to remain competitive. The rise of e-commerce has brought new challenges to brick-and-mortar businesses, but it has also opened up new opportunities for innovation. One of the most promising technologies for retailers is artificial intelligence (AI). In this blog post, we will discuss how AI can affect brick and mortar businesses in Hong Kong and how they can use AI to their benefit.

AI can have a significant impact on brick and mortar businesses in Hong Kong. By leveraging AI, businesses can improve efficiency, enhance customer experience, and optimize operations. Here are some ways that AI can affect brick and mortar businesses in Hong Kong:

Benefits of AI for Brick and Mortar Businesses in Hong Kong

a. Automation – One of the primary benefits of AI for brick and mortar businesses in Hong Kong is automation. AI can automate routine tasks such as inventory management, ordering, and checkout, freeing up employees’ time to focus on higher-value tasks. Automation can also reduce errors and improve efficiency, resulting in cost savings and improved profitability.

b. Personalization – Another significant benefit of AI for brick and mortar businesses in Hong Kong is personalization. AI can help businesses provide a unique shopping experience for customers by analyzing their preferences and behaviors. For example, AI-powered recommendation engines can suggest products that a customer is likely to be interested in based on their purchase history or browsing behavior. Personalization can help businesses build customer loyalty and drive repeat purchases.

c. Customer Service – AI can also improve customer service in brick-and-mortar businesses in Hong Kong. AI-powered chatbots can provide instant responses to customer inquiries, freeing up employees’ time and providing 24/7 customer support. AI can also help businesses identify and resolve customer issues more quickly, resulting in higher customer satisfaction.

d. Inventory Management – AI can help businesses optimize their inventory management, ensuring that they have the right products at the right time. By analyzing customer data and historical sales trends, AI-powered inventory management systems can make accurate demand forecasts and suggest optimal stock levels. This can help businesses reduce waste and avoid stockouts, improving profitability.

e. Data Analysis – Finally, AI can help businesses in Hong Kong analyze customer data to gain insights into their preferences and behaviors. By analyzing customer data from multiple sources, such as sales transactions, social media, and website analytics, businesses can gain a deeper understanding of their customers’ needs and preferences. This can help businesses develop more effective marketing campaigns, product offerings, and customer engagement strategies.

Implementing AI in Brick and Mortar Businesses in Hong Kong

a. Identify Business Needs – The first step in implementing AI in a brick and mortar business in Hong Kong is to identify the business’s specific needs. For example, a business might need help with inventory management, customer service, or personalization. By identifying the specific areas where AI can provide the most value, businesses can choose the right AI solutions and allocate resources effectively.

b. Choose the Right AI Solutions – Once a business has identified its needs, the next step is to choose the right AI solutions. There are many different AI solutions available, from chatbots to recommendation engines to inventory management systems. It’s important to choose solutions that are tailored to the business’s specific needs and goals.

c. Invest in Employee Training – Implementing AI in a brick and mortar business in Hong Kong will likely require employees to learn new skills and adapt to new processes. It’s important to invest in employee training to ensure that employees are comfortable with the new technologies and can use them effectively.

d. Monitor and Measure – Results Finally, it’s important to monitor and measure the results of implementing AI in a brick and mortar business in Hong Kong. By tracking metrics such as sales, customer satisfaction, and efficiency, businesses can determine whether the AI solutions are providing the expected benefits. This information can be used to make adjustments and improvements over time.

AI can have a significant impact on brick and mortar businesses in Hong Kong. By leveraging AI, businesses can improve efficiency, enhance customer experience, and optimize operations. To implement AI effectively, businesses should identify their specific needs, choose the right AI solutions, invest in employee training, and monitor and measure results. With the right approach, brick and mortar businesses in Hong Kong can stay competitive in a fast-changing retail market.

Don’t Forget to Have Insurance If You Decide to Integrate Business with AI

If a brick and mortar business uses AI for some of its operational processes, it is important to have the appropriate insurance coverage to mitigate potential risks associated with the use of AI.

One type of insurance to consider is cyber liability insurance, which covers losses from data breaches, cyber-attacks, and other technology-related risks. This can help protect against potential lawsuits or claims arising from the use of AI in their business operations.

Another type of insurance to consider is errors and omissions insurance, which provides coverage for professional negligence or failure to perform professional duties. This can be especially important if the AI system used by the business provides services or advice to customers, as errors or mistakes made by the AI system could lead to liability claims.

In addition, it may be beneficial for the business to consult with a specialized insurance provider that understands the unique risks associated with AI use and can help tailor coverage to fit their specific needs.

20Nov

Infographics: The State of AI in Business

The possibilities for how businesses communicate with their customers in real-time, manage their operations, and maintain business continuity during the pandemic are expanding thanks to AI capabilities. Companies are figuring out new ways to innovate and grow as technology develops.

Here are statistics on AI in terms of its use and value in business.

The state of AI in business infographicsWith the inevitability of AI growth and use in a business’ day-to-day transactions, it also asks whether enterprises are taking enough measures to protect themselves from liability while using AI.

If your need help finding liability insurance for your business in Hong Kong, connect with us today.

13Nov

Four Cybersecurity Outlook for Small and Medium Businesses in 2023

In the post-COVID-19 era, the market for cybersecurity insurance is anticipated to grow from US$ 11.9 billion in 2022 to US$ 29.2 billion by 2027, at a CAGR of 19.6%.

Cyber insurance will be bought by more SMBs than ever. Industry research found that only 15% of SMBs had purchased some form of cyber insurance, even though cybercrime was one of their top concerns. This means that for the foreseeable future, cyber insurance represents the single biggest growth opportunity for carriers, brokers, and MGAs.

According to a recent survey by Inc.com, which found that there are more than 30 million small top midscale businesses in the US alone, 77% of these companies believe that adopting technology throughout their company is a key factor in their growth.

Cyber insurance will be a part of every organization that depends on digital technology currently or in the future.

Here are four outlooks for cybersecurity in 2023:

1. Insurance companies will factor in a company’s existing (or non-existing) cyber security measures.

For carriers and policyholders that lack an active risk management system for these risks, the cost of mitigating and insuring data breaches and other cyber catastrophes will keep rising. For small and medium-sized firms, a cyber event often costs insurance more than US$150,000.

The average cost of a cyber incident for large businesses is around US$10 million. Carriers will demand more security from businesses to buy insurance to reduce those expenses and keep a successful book of business.

We predict that, at the very least, policies with limits of more than $500,000 will need to have anti-virus, firewall, two-factor authentication, backup, and encryption.

2. Companies that’ve already experienced data breaches will have a harder time finding a cyber insurance provider.

According to a recent report by the Government Accountability Office  (gao.gov), the increasing threat of a cyber breach will drive an upsurge in cyber insurance premiums while reducing availability.

In 2020, 47% more buyers chose cyber coverage, up from 26% in 2016. The cost of cyberattacks roughly doubled for American insurance companies between 2016 and 2019. And as a result, there was a significant rise in insurance prices. Due to the current shortage of insurance capacity in the market and the fact that many firms are unable to obtain cyber insurance at an acceptable price, costs are likely to increase.

3. Costs are projected to rise as a result of the market’s existing lack of insurance capacity and the fact that many businesses cannot find cyber insurance at a competitive price.

Brokerages must now be ready to discuss a packaged approach: a pre-placement cyber risk report, a competitive cyber insurance policy, and a platform that continuously monitors exposures throughout the policy’s lifetime and notifies the insured before a breach occurs. This will help clients avoid a price spike following a breach and a claim.

This strategy may lessen the need for some coverage restrictions or exclusions while preventing premium increases.

4. The adoption of AI-powered automated underwriting for cyber policies will keep expanding.

Providers can help their clients in getting the coverage they require, lower the chance of a breach, and prevent premium increases when carriers and MGAs use tested automated underwriting supported by tested technology. In order to provide the SMB market sector with a cyber insurance policy, automated data-driven solutions are essential.

If your business needs help finding the right cyber insurance, get in touch with us at Village Insurance Direct.

17Sep

2022 Stats on Cybercrime and Cyber Security

Today’s internet users and businesses need to have cybersecurity. Consider it to be your home’s equivalent of an alarm or automated lock system. Your home door shouldn’t be left unlocked for criminals, and the same goes for your computer. The dark web is absolutely not where you want any of your confidential information, especially those of your customers, to end up.

Reduce liability by increasing cyber security. This year, concerns about malware and phishing have increased because there are significantly more online transactions for businesses.

Here are stats to keep in mind:

2022 Cybercrime stats infographicsNeed help finding cyber insurance and liability cover for your business? We can help.

9Jul

Tips for Businesses: Adapting to a Hybrid Way of Working

A lot of businesses have shifted to hybrid work with part of the week spent in the office and the other days spent with employees working remotely. It can be tough to keep everyone on the same page and to keep company processes streamlined.

Here are a few tips on how businesses can adapt to a hybrid working environment:

 

1. Schedule regular check-ins: Have weekly or biweekly check-ins with employees, either individually or in small groups. This is a time to touch base and see how everyone is doing both professionally and personally.

2. Set clear expectations: When it comes to hybrid work, it’s important to set clear expectations from the start. Employees should know when they are expected to be in the office and when they are expected to work from home.

3. Encourage communication: In a hybrid work environment, there will inevitably be more communication via email, chat, and video conferencing. Encourage employees to over-communicate, rather than under-communicate. Create a hybrid work policy: A hybrid work policy should spell out the dos and don’ts of hybrid work. This will help to set clear expectations and avoid any confusion down the road. Invest in the right technology: In order for hybrid work to be successful, businesses need to

4. Be flexible: One of the benefits of hybrid work is that it allows for more flexibility. Employees may need to take a break in the middle of the day to pick up their kids from school or take a walk to clear their heads. As long as they are getting their work done, be flexible with their schedule.

5. Set clear expectations and then let them work independently: Trust is key for this type of arrangement to be successful. If there are any misunderstandings, they can quickly snowball into big problems. If you micromanage them, it will only lead to frustration on both sides. If productivity has not dwindled, then you have nothing to worry about.

6. Invest in the right technology: In order for hybrid work to be successful, businesses need to invest in the right technology. This includes video conferencing software, project management software, and file-sharing platforms.

With technology, comes liabilities

Once your company has invested in the right technology, cybersecurity needs to be part of the package. Securing sensitive data, especially if you’re handling 3rd-party information needs to be a priority.

This can include investing in a good VPN, data encryption, and 2-factor authentication.

Create a remote work policy:

Much like your company’s regular attendance policy, hybrid work needs its own set of guidelines. This can help to prevent any misunderstandings about what is expected from employees. The policy should cover topics such as personal usage of devices, productivity trackers, etc.

Training employees about cybersecurity is also encouraged because your IT department is only as good as employees who understand the value of security protocols.

Regularly Back Up Data:

Backing up data is an essential part of any business’ cybersecurity strategy, but it’s even more important for hybrid businesses. This is because hybrid businesses often have employees working from different locations, which makes it more difficult to physically secure data.

Get Liability Insurance That Covers Cyber Security Breaches

This is one of the most important steps a company can take to protect itself against hybrid work-related risks. Cyber insurance can help cover the costs of data breaches, cyber extortion, and other risks that come with hybrid working.

Hybrid work can be a great way for businesses to adapt to the changing world. By being flexible with employees, investing in the right technology, and setting clear expectations, businesses can make hybrid work a success.

13Jun

The Value of Digital Health Services Post-pandemic

The pandemic has altered the way health care is given.

Insurance providers have reacted to the rising demand for digital and virtual GP services by developing products to fit customer needs.

Such programs have really taken off in terms of providing mental health support to consumers and those who have been affected by long Covid, and advisers recognise how crucial it is for clients to have access to them.

But, once Covid infection rates start to drop back, and restrictions are lifted entirely, will consumers continue using such solutions in the same way, or will they opt for face-to-face treatment as the country seeks to reclaim normalcy?

Increased Demand for Online Services

 

Jennifer Gilchrist, protection specialist at Royal London told Health & Protection said, “We’ve seen an increase in demand for digital health services coming out of the pandemic and people are becoming more used to virtual methods of accessing services.”

Gilchrist also added that many insurance providers devised more online and virtual capabilities quite quickly which has accelerated the digitalisation of an industry that’s been heavily reliant on more traditional processes when compared to other industries.

Ian Ranger, head of claims and medical underwriting from Canada Life also agreed and noted that a provider’s virtual support service was becoming part of customer expectations.

Health propositions lead at Aviva UK Health, Nina Brown, shared that for the first quarter of 2022, providers observed the average number of online appointments rise to 7,200 per month, with March seeing a record 8,500 appointments carried out.

Last October 2021, the average number of online appointments made was around 5,000 a month. These numbers are clear indications of continuing growth. Given this, healthcare providers, as well as insurers, need to respond to the demand and adapt.

Two factors must be kept in mind when innovating products/services:

1. speed
2. convenience

Less intrusive services and encourage patients to reach out more readily

 

The awkward waiting time at the doctor’s office or the energy-draining commute to the clinic can hinder some people to seek care. However, online services take away these factors and allow more people to reach out for mental health checks.

Virtual consults give plenty of breathing room for patients and lessen the anxiety some may feel when going to a therapist. Conducting a session in one’s comfort zone eases away a good chunk of the tension so there is more focus on more pending matters.

As the number of cases grows, digital delivery of services means long-term Covid patients don’t have to travel for treatment, as Dr Julie Denning, managing director of return-to-work rehabilitation firm Working To Wellbeing, points out.

“Those who have complex therapeutic demands, like those receiving cancer treatments or recovering from prolonged Covid,” Denning explained, “digital delivery means they don’t need to make additional travels outside of their home when they may be feeling exhausted, in pain, or concerned.”

The Demand for Digital Services is Unlikely Waning

While companies are making moves to return to work or have a hybrid setup, what healthcare providers and insurance can expect is the steadfast need for fast and convenient online services regardless of loose or non-existent restrictions.

Patients have realised the value of such services and there is very little sign of going back from this point forth.

 

20Feb

Increased Cyber Risks from Remote Work

Working remotely has become the default mode for many businesses since the COVID-19 pandemic. While this allows companies to continue operations while reducing their employees’ chances of getting sick it also opens up the company to new cyber risks.

Working from home requires access to Wi-Fi that may be insecure despite thinking otherwise. In the case of home networks, they are usually set up in default mode that permits devices to connect without passwords.

This even includes Wi-Fi-enabled appliances, monitors, door locks surveillance cameras, speakers and more. Your corporate mobile device may be using this Wi-Fi network also. And even if you are able to use a VPN and private servers, this does not mean your confidential data is not exposed to grave cyber threats.

The multiple variables of all your employees’ home network means that your IT department has to cover more computers. In addition, there will be some employees who don’t completely understand the probability of a data breach with an unsecured network – especially if they access work through public Wi-Fi like coffee shops for instance.

What can companies do to reduce the risk of cyberattacks while working at home? 

> Reinforce the use of VPNs for all remote staff

> Teach employees to scan devices before allowing them to connect with access by unauthorized software or hardware

> Double-check and lock remote devices wherever necessary to help reduce the possibility of cyber attacks without negatively affecting user experience.

> Disable split tunneling for VPN profiles to ensure that virtual employees won’t be able to access Wi-Fi networks directly without going through the corporate network first.

> Companies should also practice scheduled analysis of work-issued devices’ log data to improve detection of cyber incidents.

More importantly, companies should also update their cyber breach response strategies for the entire remote staff and practice plans through exercises with IT and security staff, along with officers and directors.

Many companies in Asia have been able to restructure operations and adapt to virtual offices. They are calling the remote workforce ‘the new normal’. Companies need to anticipate similar incidents like this pandemic – some may even pose more challenges.

For now, what’s needed are immediate measures to tighten online security of remote workers and revisit liability insurance policies that may not yet cover cybercrime-related claims.

12Nov

3 Common Ways Ransomware Gets to Your Computer

There’s a 50% chance that your computer at work could be infected with ransomware especially with more online interactions.

With ransom transactions averaging over US$80,000 in 2019, malicious software is quickly becoming cybercriminals’ choice of weapon.

Ransomware uses internal systems to encrypt a series of files and deactivate troubleshooting processes, preventing access to your own data.  The hacker essentially holds your data hostage until your business pays up a substantial amount.

Is your business prepared to deal with these types of cyberattacks now that you’ve shifted to more digital processes?

Cybersecurity training plus a good cybersecurity insurance plan are two crucial ways to safeguard your company from liability and the cost of cyberattacks. But how exactly does ransomware get to your computers and devices?

1. EMAIL

Ransomware sent via email is what’s usually called phishing. A majority of ransomware is delivered via phishing. Hackers use legitimate-looking emails to trick recipients into clicking a link or downloading an attachment that contains malware.

The recipient will then get redirected to a malicious site that starts the download of ransomware. Attachments to emails come in various formats like Word, PDF, Excel or ZIP files to make the email seem safe. When the attachment is opened, the ransomware instantly uploads itself, encrypting and holding files for the hacker.

To minimize the chances of falling victim to phishing, manually entering the links in your browser, hovering over links, and expanding shortened URLs can help prevent you from clicking on them.

For attachments, check if the sender’s email address is legitimate by reviewing the domain extension (e.g. sendersname@gmail-net.com is a suspicious address). And only open files sent by people who you trust.

This site helps you check if a certain domain is temporary or a throw-away: https://www.block-disposable-email.com/cms/

2. Remote Desktop Protocol (RDP)

RDP is a communications protocol that allows IT admins to get access to other systems (e.g. company employees).  During the process of gaining access to a system, a computer can become exposed to hackers for a window of time. This is when hackers attack and deploy ransomware.

Make sure your IT puts in place authentication factors and added security measures for all your ports. This is more of a task for the IT department but is still worth knowing when you’re running checks throughout your system.

3. Illegal or Pirated Software

Some companies cut costs by subscribing to pirated or unlicensed software because they don’t see the value of cybersecurity in relation to the tools they use on their computers.

Hackers can easily embed malicious ware when you download from unsecured software sites.

The quick solution to this is to invest in licensed software especially if you’re using it daily. To prevent ransomware infections via pirated software, avoid downloading activators, key generators and software cracks from torrent websites. It’s also best practice to use a complete anti-malware application to detect any installations happening in the background while your computer runs throughout the day.

There are other channels to which malware infects systems. Make sure your employees undergo cybersecurity training and have a robust liability insurance cover in place to protect your business.