A man looks concerned about the cyber security measures he has taken at his practice.

Cyber Risk Tips for Professional Solutions Insureds

Cyber criminals are more powerful than ever. These risk tips provided by cyber security leader Tokio Marine can help you mitigate attacks and keep information secure.

As businesses, schools, retailers, restaurants and more scaled way back last year, at least one “industry” was booming: cyber attacks. While we were all worrying about the pandemic and putting together plans to survive physically, mentally, financially and emotionally, cyber criminals took advantage of the situation to ramp up their attacks.

According to Forbes magazine, the number of attacks in 2020 was staggering: the Federal Trade Commission (FTC) reported 1.4 million attacks -- double from 2019.

Your Cyber Liability Coverage Can Help

As a Professional Solutions insured, your policy includes an endorsement which provides you cyber liability coverage. This coverage is provided to us and to you by Tokio Marine, a leader in the cyber market. It’s a terrific benefit to have the coverage if an attack should happen.  However, it is even better to know and take the steps to potentially mitigate an attack from happening in the first place so your practice is not disrupted.

Cyber Risk Tips from Industry Leaders

You’re probably familiar with basic cyber hygiene: 

  • Be aware of phishing attempts
  • Change passwords frequently and don’t share them
  • Don’t click on unfamiliar links or download items without first checking their validity
  • Keep your virus protection updated

But, how familiar are you with 2FA and BEC? To help you better understand how to mitigate your exposure to cyber criminals and avoid becoming a statistic, Tokio Marine has provided this guide [PDF] as a benefit to you to help you to better understand things like 2FA aka two-factor authentication and business email compromising (BEC), aka cyber criminals impersonating employees. 

If you would like to know more about the cyber endorsement, reach out to our Underwriters or your agent.