Cyber Liability: Here's How to Protect Business Data

Nearly every business has digital risks, even if the only way you’re digitally communicating is when you charge a customer’s credit card. However, your business can have a cyber liability if your (digital or paper) data is not secure. Identity theft is a growing concern, with common personal information becoming easier and easier to steal, and identity theft criminals becoming more and more savvy about getting access.

Find out how to safely deal with personal customer and employee data, including names, social security numbers, birth dates, account information, and more. Your customers and employees already trust your business with sensitive personal data, so you need to know how to safely dispose of data on paper, and protect digital data, too.

Dealing with paper

In most businesses, safely shredding documents is the single, best way to deal with data on paper. Safely disposing of records, account information and sales documents is a must. Your business should either invest in its own paper shredder, or find a local provider that deals with record disposal. If you choose to outsource the job, be sure to choose a provider that follows privacy laws and uses the proper procedures for destroying sensitive documents.

Digital privacy strategies

If you store data on computers and hard drives, invest in and regularly update anti-virus and –spyware software, and make sure employees follow best practices for creating passwords and pins.

Don’t put securing sensitive data on the back burner. Creating safety procedures for data on paper and digital data should be a top priority for your business. A data breach or theft can destroy your business’ reputation, and send customers elsewhere in search of a more trusted provider.

If you’d like more information about identity theft or data breaches, and the security that cyber liability insurance provides, contact the insurance specialists at Spreng-Smith Agency. We serve consumers, businesses and nonprofits in North Central Ohio.

Tell us: What procedures does your business follow to protect itself against cyber liabilities?