A breach of cyber security means that someone (or something) has accessed your protected data, whether protected by passwords or other security mechanisms. This is usually the beginning of a cyber attack and can be the tip-off that something is wrong. The security network should notify you as soon as a breach occurs, but it isn’t always easy to catch or prevent.
The most common types of cyber attacks include: 
- Phishing. Phishing is common over email and phone, as it tries to convince the recipient to download attachments or click links that are encoded with viruses. The attacker may also try to convince the recipient to divulge important information such as passwords and credit card numbers.
- Denial-of-service (DoS) or distributed denial-of-service (DDoS)
- Ransomware. This software holds information for ransom by denying access. This attack occurred every 14 seconds in 2019.
- Man-in-the-middle (MITM). This attack prevents the victim from accessing the server. The attacker can accomplish this in a few ways, including something called “IP spoofing” that tricks the server system into recognizing its IP address as trusted. The attacker may also hijack a session as soon as the victim connects to the server before disconnecting the victim. This is a type of attack vector.
- Other attack vectors. Attack vectors primarily give the attacker access to a system through malware. This includes drive-by attacks, MITM attacks, zero-day attacks and SQL injection.
Prevent Cyber Security Risks
Preventing cyber attacks is crucial, but not always possible when a skilled attacker is determined to access important data. Cyber liability steps in if client information is damages, lost or held hostage due to a cyber attack. It may also cover third-party coverages in relation to claims of negligence, such as if a client claims that there was a weakness in your company’s network security that led to the breach. Legal fees may also be covered under this policy.
Make sure all of your business’ electronically stored information is protected by reliable fire walls and security systems and that all relevant employees are trained to identify cyber security risks.
If you are looking for a cyber liability insurance policy, shop around to compare quotes and speak with an insurance agent about your cyber security needs. Every business is different and you need cyber liability business insurance tailored to protect your day to day operations. Connect with a dedicated insurance agent today.