Top Data Security Threats

cyber insurance for nonprofits

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Data breaches happen more often today than you may think and they can severely affect your non profit organization. Negligent employees or those with intent to harm your company are usually the causes of these breaches. Knowing how to avoid data breach and having the proper cyber liability insurance can save your non profit organization money, time, and customers.

Employee negligence is a major threat to your non profit organization. Opening links that contain viruses is one of the primary ways employee negligence contributes to a data breach. In addition, the prevalent use of mobile devices such as phones, lap tops, flash drives, and CDs are contributing to more breaches. These items are now carrying more sensitive information than ever. If an employee leaves one of these mobile items behind, sensitive information can be readily available to the public. Reporting the loss of mobile devices can help recover data and keep it from spreading to unintended to persons. Enforcing security policies for employees to follow will also reduce the risk of a breach.

Furthermore, lack of security against hackers and failure to back up data can contribute to a security breach. It is important to have a trustworthy IT staff who can keep systems updated and install the proper anti malware that will protect sensitive information. Below are a few other ways that can help you protect your organization:

Use stronger passwords
Have physical security systems for areas that store sensitive data
Teach employees the dangers of oversharing on social networks
Employ a policy for destroying documents

Losing data can incredibly hurt your non profit organization if you do not have the proper cyber liability coverage. This loss can cause your company time, the trust and business of your customers, and expenses through reimbursement to customers and paying for data recovery. Through speaking with an insurance professional from Lamb Financial Group, you can learn how to protect your non profit organization from data breach and the losses that come with it. Call 1-866-481-5262 or contact us to learn more information.

Preventing Break-Ins at Your Organization this Holiday Season

preventing theft and break-ins at your organization

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With the holiday season approaching, burglars know that you are more likely to be with your friends and family rather than staying at your business and working. This situation increases the risks of break-ins during the holidays and it happens more than you may think. Knowing how to protect your non profit organization from breaking and entering will help from becoming vulnerable to loss.

Below are a few tips on how to protect your organization this holiday season:

1. Install a security system. This could be as easy as installing motion sensors or having an access keypad. Monitoring these systems is critical if they are going to be effective.

2. Keep all valuable items out of sight. This may deter burglars from breaking in if they do not see any valuables.

3. Keep all cash or any other valuables in a safe and have that safe secured to the floor. If the safe is bolted to the floor, burglars cannot pick it up and walk out with it. This way will keep the burglar at the premises and may result in police catching them in time.

4. Install a surveillance system that is linked to a system in your home or smart phone for monitoring. If burglars see that a camera is recording everything and someone is watching, they are less likely to break in.

5. Light all entrances. Burglars like to be able to enter premises without being seen, therefore, have a light on in an entry point might make them think twice about entering.

6. Make sure all doors have dead bolt locks and are lined with metal security cross bars.

7. Windows should have locks and burglar-resistant glass.

If a loss should occur, such as theft or vandalism, you will need to have the proper insurance protection. Lamb Financial Group can help you learn more on how to protect your non profit organization this and holiday and provide information on the proper coverage you may need. Contact us or call 866-481-5262 to learn more.

Is Your Organization Properly Classifying Data?

Despite the fact that most businesses now operate at least partially in the online world, a surprising number are not aware of the importance of properly classifying data. An astonishing 37 percent of organizations do not have a system in place for data classification according to Risk Management Magazine. And the legal and financial ramifications of a breach can be astronomical for companies that are not taking the proper precautions.

cyber liability for nonprofits

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Data classification involves categorizing the information your company collects into levels of confidentiality. For instance, health information would receive a higher priority than a database of zip codes. Since most companies process massive amounts of data during the course of business, it is not feasible to provide maximum security over all data collected. Classifying your data allows the most sensitive data to be highly secured while the less risky data is protected by the usual means for your internet access.

Information management and a key data policy should be implemented by all businesses that store data using the web. In a survey conducted by Protiviti, as many as one in four companies do not have a written data policy and one in three do not have proper encryption set up to protect their data. If a breach were to occur, companies without a key data policy or encryption software would not be able to target what information was stolen and mitigating damages would be next to impossible.

On a more positive note, Protiviti’s detailed report shows that 67 percent of businesses are more aware of the dangers of unclassified data and are making improvements. It also shows that while encryption is not as popular as it should be, record retention practices and usage regulations are in place at more than 80 percent of the companies surveyed.

Lamb Financial Group offers nonprofit risk management services including the proper insurance policies for all of your cyber security needs. Call us at 866-481-5262 or contact us for more information on how we can help you protect your organization’s valuable data with a cyber security insurance package.