Why you need personal cyber insurance when working from home?
It’s not just Canadian businesses that have seen an increase in cyber-attacks since the start of COVID-19. Cybercriminals have been exploiting individuals working from home by taking advantage of gaps in the home computer security and targeting them by sending phishing emails. According to Vishal Kundi CEO and co-founder of Boxx Insurance (the firm that specializes in cybersecurity and insurance) Toronto, businesses are probably more equipped to handle cyber-attacks than a person is on their own when it comes to securing their personal devices.
Most people aren’t aware that they can be a victim of a personal cyber-attack anytime. According to a report of research done by software security firm Norton, 44% of people surveyed thought they weren’t “worthwhile targets” for hackers. Cybersecurity giant Kaspersky’s research report says that mobile device attacks have also been increased lately with malware disguised in apps and social media.
Kundi adds that, with more people continuing to work from home and more connected devices than ever before, anyone can be a target of data and identity theft, ransomware, or personal cyber-attacks. Kundi advises the people who are working from home to ask a few questions to themselves in order to understand their cybersecurity status.
Four Important Questions To Ask Yourself About Your Home Cybersecurity
1. Is your home WiFi secure enough? “Working from home without an I.T. Team to secure all Wi-Fi networks gives a chance to hackers for easier access to your home network’s traffic,” says Kundi. According to the Norton research report, 7 in 10 consumers wish they could make their home Wi-Fi networks more secure. Yet, only 27% believe their home Wi-Fi network could be compromised. Creating a dedicated WiFi for work purposes is a good way of securing your WiFi from potential cyber breaches. 2. Can you identify a phishing email? “Phishing scams are popularly recognized as the top reason for data breaches,” says Kundi. “Yet, nearly 3 in 10 people couldn’t detect a phishing email according to the Norton research report. “Hackers send misleading emails with malicious links and attachments. When an employee clicks the link, a hacker can gain access to their personal and private networks also,” Kundi explains. 3. Are your passwords secure? As per Kundi, “Insecure passwords and not making use of Multi-Factor Authentication make it easier for hackers to steal your personal information. Using simple passwords, or one password across many platforms, allows hackers to gain unauthorized access to multiple accounts in a very short period.” 4. Do you have sufficient personal cyber insurance? According to Kundi, “There’s a rule of thumb applied in medicine called Sutton’s law, named after famous bank robber Willie Sutton. After being caught, a reporter asked Sutton why he robbed banks? He answered ‘because that’s where the money is’. These days, we rarely carry cash - we log into our online bank accounts and mobile apps. If Sutton would be a hacker in the virtual space today, then he would have targeted your mobile or laptop; because that’s where your money is.” While you can protect yourself from cybercriminals with comprehensive security software, it’s important to be appropriately insured against destructive and disruptive cyber-attacks, which may leave you with financial loss or worse, bankruptcy.
Keeping all these points in mind you need to keep your devices secure from hackers. The pandemic has caused a lot of loss to many businesses & everyone is working from home these days. It is highly impractical to stop working as everyone around needs money to meet their daily needs. Using your gadgets to do your office work is the only choice, & thus it is important to keep it safe by insuring it.
