In April, the National Association of Insurance Commissioners (NAIC) established new guidance for insurance companies. Agents and brokers can now be held liable for the loss of health or personally identifiable information. This includes information like full name, social security number and date of birth. Independent insurance agents can reduce their risk by taking precautions to secure their data:
1) Be Careful With Email
Emails are the origin of many cyber threats. Watch for incoming emails that contain attachments, especially those that ask for immediate action. Executing unknown attachments can invite malicious code into your system. Also, be careful visiting links in emails, even from known senders.
2) Keep Your System Updated
It’s important to keep all of your systems and software up to date. Make sure that you have the latest version of your phone and computer operating system installed, and observe all recommended updates. Newer operating systems tend to have the latest security features that can help to protect your data. Additionally, make sure all third-party software is up to date.
3) Use The Best Wireless Settings
Wi-Fi is one of the most crucial areas of your framework to protect. Use the strongest security settings of WPA2 at your office and at home. Select the best framework for Wi-Fi wherever you are. When you’re in a public place, make sure that you are connecting to the official network; hackers sometimes set up dummy networks in the hope that you will unknowingly connect.
4) Use Strong Passwords
Having no password protection or weak passwords is a liability. In case of loss or theft, computers and phones should always be password protected. Choose a password that is complex, containing a variety of character types and no common words.
5) Follow The 4 Principles of Cyber Risk Management
Develop a fundamental understanding of cyber-risk management. Understand the four fundamental elements of risk management as they apply to cyber-liability exposures: avoidance, reduction, transfer, and retention.