Data breaches, hacking and e-mail scams affect companies of all sizes. It's not just the big companies like Equifax and Marriott International – all companies need to prioritize cyber security. According to a report, two thirds of SMEs have been hit by cyberattacks in the last twelve months. 
With cyber attacks on the rise, it's clear that you need to take the time now to evaluate the vulnerabilities of your business. Many companies believe that they are protected when they have created an IT security system, but the truth is that an increasing number of attacks are aimed at your employees. Creating a strong cybersecurity culture with employees is your greatest opportunity to strengthen your company's data defenses.
Why your employees are targeted.
There are many resources available to companies to protect IT systems and data, from managed IT services to cybersecurity. software solutions. Therefore, hackers and fraudsters are increasingly using tactics such as spearfishing and social attacks to get the information they need to infiltrate your systems from an unsuspecting party. In fact, almost half of data breaches are the result of human and system errors. 
Organizations must take responsibility for ensuring that employees have the necessary training and knowledge to avoid attacks rather than blaming that individual. It is up to your company to create a strong cyber security culture and provide consistent training to your staff so that everyone knows how to detect and avoid cyber threats.
Why you need to focus on employee cyber security training.
Currently, the most underprivileged in cybersecurity is employee training despite the critical role it plays in protecting against threats.  It also means that investing in employee education is your best opportunity for cost-effective, meaningful improvement.
In order for cybersecurity software and solutions to do their job, they must be constantly updated. The same applies to employee training. As new viruses and attacks develop daily, your employees need consistent and regular training and updates from a trusted source. Consider these statistics from Chubb's third annual cyber report :
- 70 percent of respondents say their companies have excellent or good cyber security practices but only 31 percent receive annual training or updates for the entire company.
- More than two thirds of employees learn about cybersecurity protection from the mainstream media or family and friends. Only 19 percent of employees learn about cybersecurity protection through their employer.
Here is your opportunity to strengthen the data defense.
Establish strong security policies and create a culture of common attitudes and measures to drive success. Remember that cybersecurity is a team effort. Put your employees in a position to succeed by providing regular cybersecurity training and updates that protect them and your organization. Complement it with periodic simulated phishing campaigns to give employees the opportunity to test their skills as they have learned while not risking the company. Remedial training for those who fail the campaign will give them the opportunity to learn more about what to look for from cybercriminals.
Preparedness is a good thing to prevent cyberattacks, but it does not always stop them. Cyber insurance provides resources to respond to …
- Personal data breach (if your customers' private information is compromised)
- A computer attack
- Cyber blackmail redemption)
- Defense and settlement costs
- Identity recovery
- Liability for third parties (those who sue you for the attack / intrusion)
Have cyber coverage and peace of mind in case something similar should happen. Watch this video and contact your independent insurance agent to learn more.
 Keeper Security and Ponemon Institute, 2018 State of Cybersecurity Report
 Ponemon Institute and IBM Security, 2019 Cost of a data breach report
  Herjavec Group, 2019 official annual cybercrime report
 Chubb, third annual cyber report, July 2019
Blog content courtesy of CyberScout. © 2020 CyberScout, LLC
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