Refresh your Cyber Security habits

Cyber Security

3 Tips for Cyber Security

Cyber security may not be the most exciting topic, but it is extremely important and it is everyone’s responsibility. There are some really basic things you can do to really increase your own security, both when doing business, as well as in your personal life.

Cyber Security

Cyber Security Tips

3 Tip for Cyber Security

Cyber security may not be the most exciting topic, but it is extremely important and it is everyone’s responsibility. There are some really basic things you can do to really increase your own security, both when doing business, as well as in your personal life.

Don’t reuse passwords

I’m sure you hear this one a lot, but a lot of times it’s not explained why!

Let’s say you sign up for the website www.reallyfancyclothes.com to do some shopping. You use your Gmail email address and the same password as the email address. Two months later, news breaks that reallyfancyclothes.com had their customer database hacked and all emails and passwords were stolen.

These hackers will use programming to test all those email/password combinations. Within a few minutes, they are in your Gmail account, because you haven’t secured it with multi-factor authentication!

Now that these hackers are in your Gmail, they are able to see what other websites you’ve signed up for. They can start either logging in using that same stolen password or doing a password reset to your email that they are logged into. Soon, all your accounts are stolen and you’re completely locked out of everything!

Always use Multi-Factor Authentication

You’ll notice in the above that I specified that the hackers were able to enter due to no Multi-Factor Authentication (MFA).

This is critical and is one example of why IT people use the term “defence in layers”.

Should you make the cardinal mistake of reusing passwords, you may still be saved by having MFA.

You will be familiar with this, it’s where you get a text with a one-time-use code, or you need to open an authentication app to get a short-lived code. MFA is not fool-proof, and there have been cases of people using social engineering to bypass these – but that’s why you have layers of security!


Never share passwords

Sometimes it may seem super easy and convenient to give your password to someone to log into your computer for you, but this is another cardinal sin of cybersecurity.

Once someone else knows your password, your account is no longer considered secure. You never know how that person is keeping that password (Did they write it down on a sticky note on their screen? Are they giving it to someone else to log in to?), and you can never know exactly what they will do under your login. And it’s not a stretch to imagine that someone working nearby may overhear your password, and then they can log into your account and wreak havoc!

 

David Boyes

Ausure’s Cyber Security Team Lead

Compare Cyber Insurance Policies

Compare leading Australian Insurers like AIG, Allianz, Brooklyn Underwriting, CGU, Chubb, Dual, Emergence and Zurich.

Compare Quotes

CGU Cyber Defence

CGU Cyber Defence

CGU Cyber Defence Product Review

CGU Cyber Defence Protects your business against cyber exposures that can impact your business from direct costs to your business, and claims from third parties. Costs associated with defending cyber claims are also covered. CGU’s incident response team is on alert and ready to take action 24/7.

Key features:

  • All subsidiaries covered including new and former subsidiaries
  • Advancement of defence costs
  • Breach Coach helps you understand what needs to be done
  • Worldwide territorial cover no matter where the attack originated from
  • Covers you for privacy breaches of data you capture and held by service providers (e.g. Cloud, ISP’s etc)
  • Free 1 Hour cyber consultation to assess risk mitigation strategies
  • 24/7 Incident response team
  • Public relations consultancy costs to protect the personal reputation of senior executives

CGU Cyber Defence at a glance

Privacy Breach

Privacy protection against third party claims for loss of;

  • Personal Information
  • Commercially Confidential Information
  • Employee Information
  • Information held by Service Providers (e.g. Cloud, ISP’s etc)
  • Defence costs covered

System Damage

Cover for lost, damaged or destroyed;

  • IT systems,
  • IT records / data
  • Includes retrieving, repairing, restoring or replacing data, systems or hardware
  • Also, includes external IT forensic or security consultants costs

Business interruption

  • Cover for loss of profits due to a Cyber Event
  • No indemnity period restriction
    • Subject to a time excess of 12 hours
  • COMPUTER VIRUS & HACKING
  • Cover for liability arising from hacker attack or virus
  • Covers loss or theft of your data or data for which you are responsible
  • Attacks by employees and third parties covered
  • Includes loss by phishing emails or Denial of Services attacks

 

Computer crime (OPTIONAL EXTENSION)

Cover for crime losses (sub limit applies) including;
– Loss of money
– Covers loss of money from Service Providers systems
– Loss caused by rogue employee or third party

Multimedia Liability

  • Protection against libel, slander or defamation
  • Cover includes infringement of copyright, trademarks & trade names
  • Covers your defence costs and third party’s costs
  • Covers all your marketing material (digital or print)

Breach Of E-Commerce Statutory Duties

  • Covers breach of statutory duty from eCommerce relating to security & management of data
  • Defence costs and compensation payable to third parties

Extortion

  • Covers payment of ransom
  • Costs of negotiating/mediating a security threat
  • Covers crisis management costs to resolve security threats

Brand protection

  • Public relations consultancy costs to protect the
    company brands.

Personal Protection

  • Public relations consultancy costs to protect the personal reputation of senior executives

Privacy Fines & Investigations

  • Cover includes fines and penalties incurred by you due to a privacy breach
  • Includes cover for your defence and investigation costs

Privacy Breach Notification & Loss Mitigation

  • Covers your breach costs including credit monitoring, identity theft monitoring, data restoration and forensic costs
  • Includes your legal costs
  • Access to call centre support services
  • Covers actual or suspected privacy breach

Reward Cover

  • Covers reward expenses to secure conviction of perpetrators of hacking attacks
  • Include payment of money or property for securing a conviction

Download a Brochure PRIcyber_defence_productoverview

Compare Cyber Insurance

1300-Insure

Please note Cyberliabilitycomparison.com.au Insurance News is an information service sometimes provided by third parties Insure 247 Australia doesn’t warrants the accuracy of any information contained there in, readers should make their own enquiry’s before relying on information in the stories Terms of Service

Compare Australian Cyber Insurers

Please note that any advice given has been provided without taking into account your objectives, financial situation or needs. It is also based on information we have obtained from you. You must ensure the information is accurate and complete. Otherwise, this advice may be based on the inaccurate or incomplete information. You should consider whether the advice is appropriate in light of your objectives, financial situation and needs

 

 

Cyber Claim Scenario – Hacker Attack

Cyber Claim Scenario – Hacker Attack

(First Party Claim)

Cyber Insurer CGU has provided this claims scenario and how there cyber insurance responds to the scenario

EXAMPLE

A transport company discovered its servers had been infiltrated by an unidentified third party, allowing the third party to access files. This included accessing personal identifiable information including credit card information.

Unauthorised and fraudulent transactions were made on the transport company’s customers’ accounts in multiple states and countries.

RESULT

The transport company was required to notify all affected customers, their personal information had been compromised and offered affected individuals credit monitoring services. The transport company was also concerned about the possible reputational damage they could suffer, so a public relations expert was brought in to assist.

The breach resulted in costs and expenses of approximately $100,000 to identify the affected individuals, notify them, set up a call centre and respond to customer enquiries.

Another $150,000 was incurred in legal costs and expenses to determine reporting requirements and respond to regulatory investigations into the privacy breach. In addition $29,000 was spent on IT forensics costs incurred to restore the data and stop the breach, and a business income loss of $250,000 was also suffered – totalling $529,000.

CGU SOLUTION

CGU Cyber Defence provides coverage for all elements of the loss including customer notification costs, establishment of call centre for customer support, credit monitoring expenses, brand and business interruption loss.

CGU Cyber Defence

Speak to one of Insure 247’s brokers on 1300 046 787

1300-Insure

Please note Cyberliabilitycomparison.com.au Insurance News is an information service sometimes provided by third parties Insure 247 Australia doesn’t warrants the accuracy of any information contained there in, readers should make their own enquiry’s before relying on information in the stories Terms of Service

Compare Australian Cyber Insurers

Please note that any advice given has been provided without taking into account your objectives, financial situation or needs. It is also based on information we have obtained from you. You must ensure the information is accurate and complete. Otherwise, this advice may be based on inaccurate or incomplete information. You should consider whether the advice is appropriate in light of your objectives, financial situation and needs

Cyber Claim Scenario – Employee Error

Cyber Insurance Claim Scenario – Employee Error

(First Party & Third Party Claim)

Cyber Insurer CGU has provided this claims scenario and how there cyber insurance responds to the scenario

 

EXAMPLE

A retailer emailed a group of customers to promote a sale with special discounts available to them. The retailer intended to attach a copy of the flyer detailing the discounts but instead attached a copy of a spreadsheet that contained a customer list, including customer names, addresses and credit card information.

RESULT

The retailer was required to notify all affected customers of the error and offered credit monitoring services.

Several of the affected individuals began legal proceedings against the retailer. The notification and credit monitoring costs totalled $50,000, and the amount to settle the legal proceedings with the retailer’s customers combined with the associated legal costs and expenses totalled $100,000.

CGU SOLUTION

CGU Cyber Defence Insurance Policy provides coverage for breach of privacy which includes legal costs, indemnification of third parties and crisis management costs.

Source CGU

Speak to one of Insure 247’s brokers on 1300 046 787

1300-Insure

Please note Cyberliabilitycomparison.com.au Insurance News is an information service sometimes provided by third parties Insure 247 Australia doesn’t warrants the accuracy of any information contained there in, readers should make their own enquiry’s before relying on information in the stories Terms of Service

Compare Australian Cyber Insurers

Please note that any advice given has been provided without taking into account your objectives, financial situation or needs. It is also based on information we have obtained from you. You must ensure the information is accurate and complete. Otherwise, this advice may be based on inaccurate or incomplete information. You should consider whether the advice is appropriate in light of your objectives, financial situation and needs