As an insurance agency, your clients and customers depend on you to provide dependable services while protecting their financial interests. However, these obligations may often go beyond simply ensuring that they receive the best available services and coverage options at ideal prices. In the modern, digital era, your organization may also need to account for risks and exposures related to storing and managing your customer’s sensitive financial and private data that could make you a tempting target for hackers and other cybercriminals.
How Should Insurance Agencies Implement Cybersecurity? 
As your insurance agency strives to provide ideal services and coverage for its clients, it must prioritize versatile and robust cybersecurity measures. As you attempt to ensure preparedness for phishing attacks, malware infections and other potential cyber incidents, consider the following steps:
- Assess risks. Even organizations within the same industry or with seemingly similar circumstances may have significantly different cyber risk levels. Consult with qualified cybersecurity experts to discuss your organization’s risks and exposures and ensure that you are adequately accounting for them.
- Train employees. Educating members of your organization is one of the most essential ways to protect your business from the financial ramifications of cyberattacks. Establish robust cybersecurity training programs with all employees as part of the onboarding process and conduct regular refreshers on these practices.
- Establish rules. Implement rules about how members of your organization can work with sensitive company data and devices. For example, you may wish to limit employees’ use of personal devices when accessing company information. Similarly, you could instruct workers to avoid ever using a company device on a public Wi-Fi network.
- Install security software. Firewalls, antivirus software and other cybersecurity programs can all play a critical role in detecting cyber threats, preventing data breaches and, even if incidents do occur, limiting their consequences. Implementing these applications and ensuring they remain updated with current patches should be considered an essential part of your cybersecurity plans.
- Acquire appropriate insurance. Although planning for unfortunate circumstances may not be enjoyable, even the most diligent organizations must do so. Having cyber liability insurance in place at the time of a data breach can make all the difference, as such policies can provide your organization with the financial assistance and resources needed to limit out-of-pocket losses and ensure you can get back on track with limited financial consequences.
We’re Here to Help
At U.S. Risk LLC, we have over three decades of experience serving the insurance needs of businesses in the Houston, Texas, area. Our agents will draw on this extensive service record to help your organization assess its cyber risks and exposures, and ensure you have suitable loss control measures in place. Visit our website or call 800-460-6424 to learn more.
This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.