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Who here is an entrepreneur? Or a business owner? If you have an online business or conduct your sales through the internet, don’t underestimate the need to keep your business secure.  What happens when technology fails or an employee goes rogue with private business information? In instances like this, the right online business insurance and best online practices can make a world of a difference. 

There are a number of strategies you can implement to reduce your exposure to an online catastrophe. Anticipating potential risks will help you avoid expensive problems later. Do any of these situations sound familiar? 

  • An unauthorized, upset employee gains access to the file with passwords and information for all employees and the accounting system and begins secretly stealing money from employees
  • The owner or CEO refuses to change his password because it’s “too hard to remember,” resulting in a security breach and hacker stealing vital information from the CEOs password protected files.
  • The back-up hard drive crashes and looses the past 10 years of your company’s data.

There are a number of ways you can prevent or reduce the likelihood that any of the above examples will ever happen. 

Here are a few strategies to keep your online business safe: 

  • Conduct security audits:  Find where the “holes” are in your system by hiring a security expert to examine your network and servers. Be sure to let your insurance company know you are doing this, as reducing your risk can result in potential discounts on your Internet business insurance.
  • Manage risk: Creating policies and procedures that establish responsible practices within your company can prevent cyber breaches caused by hackers and human error. Make sure your firewall has the appropriate protection and change passwords periodically.
  • Use cloud and off-site backups: Data protection is so important to an online business. Implement extra data protection like using remote backup storage that will protect against major data loss after an unexpected event like a tornado, hurricane or unexpected power outage.

Best practices plus the right insurance is the key to protection

In addition to do doing everything you can to prevent a digital dilemma, make sure your insurance coverage is up-to-date. Take time to research different insurance companies and the products they offer to ensure your online business is covered for the catastrophes that cannot be prevented.

Protecting business in an online world that is ever changing is hard to do, but finding the right insurance and protection can help to relax your mind and potentially save your business. If you don’t know what kind of coverage you need, feel fee to reach us at GR Insurance: 844-272-0283.