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As businesses continue to rely on computers and digital storage of essential data, cyber attacks will continue to be a potential exposure for all businesses. It is important to learn about the risks of cyber attacks and potential business interruptions and consequences as a result of a breach. Spread awareness and provide proper training to mitigate your risk and protect your business as whole. 

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How can a cyber attack cause a business interruption?

Hackers, thieves and other unauthorized individuals have become adept at exploiting weaknesses in a business' computer system, whether through traditional hacking methods or social engineering. There are several types of attacks that could completely cripple your ability to perform normal business activities, including:

  • Malicious code that renders your website unusable
  • Distributed denial of service (DDoS) attacks that make your website inaccessible to employees and customers alike
  • Viruses, worms or other code that deletes critical information on a business' hard drives and other hardware

It is quite easy to see how any of these events might leave your company scrambling to do business. Unfortunately, many smaller businesses don't have the manpower available to detect the problem and work on fixing it, which only increases the length of an interruption. 

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Third-Party Interruptions Can Have a Major Effect On Your Business

You can still be affected even if it isn't your business that experiences a cyber attack. Imagine what would happen if one of your vendors suffered an attack, resulting in a complete shutdown of its warehouse or website. Unfortunately, attacks on third parties are often out of your control. Such an event could have a profound effect on how much business you are able to do, and that would trickle down to your customers, who rely on your products and services.



How To Prevent a Cyber Attack from Causing a Business Interruption

A common saying in the cyber security world is, "It's not if you'll be a victim of a data breach, but when." While 100% protection is impossible, you can help lower your chance of business interruption due to a cyber attack by following these tips:

1. Create a formal, documented risk management plan that addresses the scope, responsibilities, compliance criteria and methodology for performing cyber risk assessments. This plan should include a characterization of all systems used at the organization based on their functions, the data they store and process, and their importance to the organization. 

2. Make sure all firewalls and routes are secure and kept up to date. 

3. Implement a cyber security policy that educates employees about the dangers of computer intrusions and how to prevent them. 

4. Implement a strict password policy and have employees change system passwords every 90 days.

5. Limit employee access to company data and information, and limit authority to install software. 


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Most importantly, make sure you are covered by a Cyber Liability Insurance Policy. Most traditional Commercial General Liability policies will not cover business interruption losses due to a cyber event. Cyber Liability coverage can fill that void. 

Cyber Security is Business Security. 

Contact Carriage Trade Insurance to learn more about the Cyber Liability Coverage that is right for your business. 

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