Cyber Security Tips by PLM
Like water forcing its way through small cracks to flood a house, cyber criminals depend on small vulnerabilities to steal data, hold computers hostage and expose sensitive information. This reality—combined with extensive news coverage of high-profile data breaches—can make it feel like cybersecurity is impossible. But before you stop reading, consider this heartening fact: one of your greatest tools in preventing cyber incidents is simply education.
You can get started by understanding what you are up against. Cyberattacks and digital theft and intrusions fall into several general categories, like malware and phishing, but each business has slightly different vulnerabilities. Unlike healthcare or financial companies, LBM dealers do not depend entirely on sensitive, private customer data. But they may digitally store customer credit card numbers, employee social security numbers and company financial records. Plus, more businesses are joining the internet of things, that system of interconnected devices that talk to each other over the web without a lot of human intervention. If accessed by the wrong people, such devices can be a rich source of sensitive data. No matter how little sensitive information your business stores, you have a responsibility to keep it safe.
Educate employees and vendor partners about the ways in which your company may be vulnerable. They understand how important it is for customers to be able to trust you, and securing customer data is important for maintaining that trust. Everyone from cashiers to managers to CEOs can adopt relatively simple practices, like creating strong passwords and changing them often. They can learn to recognize common social engineering threats. For example, phishing, where a thief hides behind an email that only looks legitimate, can trick the receiver into disclosing sensitive information, like passwords and credit card numbers. They are successful all too often. Fortunately, it is possible to train people to recognize attempted phishing before they have given away the company credit card.
Of course, staying up-to-date on cybersecurity isn’t necessarily in your job description. But that doesn’t mean you are helpless. You can work with IT and insurance partners who want to keep you educated. At Pennsylvania Lumbermens Mutual Insurance Company, our Cyber Suite insurance coverage includes access to the eRiskHub® Risk Management Portal, which provides a toolkit for understanding and mitigating your cyber risks. It includes a Learning Center with best-practices articles, an Incident Response Plan Roadmap, a News Center for keeping up-to-date on cyber risks and Online Training Modules that are ready to deliver.
It is unlikely any education program will prevent every cyber incident, and no modern dealer can afford to lose access to their computer networks and digital systems. It makes sense to prepare against cyber threats, and cyber liability insurance is a crucial part of incident response. The PLM Cyber Suite offers coverage for data compromise response expense, computer attack, cyber extortion, data compromise liability and network security liability. Whether a dealer has been victimized by ransomware or an employee has responded to a phishing attack, this coverage is designed to provide the support you need to get the digital side of your business back to normal as efficiently as possible.
PLM understands the industry and its risks.
Over the past 120 years insuring this wood niche, PLM has developed extensive knowledge allowing us to help lumber dealers operate their businesses safely, productively, and profitably.
For more information, ask your insurance agent or broker about PLM, find a representative at PLM directly at www.plmilm.com, or call 1-800-752-1895.
Get more details on the Cyber Suite at: www.plmilm.com/cyber/