Is your business protected against a cyber attack?

A locked email account or a convincing fake invoice can cause problems long before a business realises it has been targeted. If you could not access your systems tomorrow, could you still take orders, pay staff and speak to customers?

For smaller businesses, cyber security and cyber insurance need to sit alongside the other risks you already plan for. The aim is to reduce the chance of an incident and understand what support would be available if one happened.

How a cyber incident can interrupt everyday trading

An attack may begin with a phishing message, a stolen password or software that has not been updated. The immediate problem might be a fraudulent payment or lost access to files, but the disruption can spread to deliveries, customer enquiries and cash flow.

Recovery may involve specialist IT support, restoring data and communicating with affected customers. If personal information is compromised, the business also needs to assess its data protection obligations promptly. Not every incident is reportable, but qualifying breaches must be reported to the ICO without undue delay and within 72 hours of awareness.

Practical steps to reduce the risk

Start with the systems and information your business depends on most. Make sure someone is responsible for keeping security measures working, rather than assuming they were dealt with when the equipment was installed.

• Use multi-factor authentication for email and important accounts.
• Install software and device updates promptly.
• Keep backups separate from your everyday systems and test that files can be restored.
• Check requests to change supplier bank details through a trusted contact method.
• Give staff only the access they need and explain how to report suspicious activity.

Keep your incident contacts somewhere accessible if your normal systems fail. A recovery plan is more useful when the people involved know where to find it.

What cyber insurance may cover

Depending on the policy, cyber insurance may provide incident response support, data recovery, business interruption cover and help with liability claims. Cover, limits, exclusions and security requirements vary, so it is important to understand what would trigger a claim.

Cyber and data cover forms part of the business insurance support available through Signature Concierge. A review can help establish whether your existing arrangements address the systems, data and trading activities you rely on.

Do not assume a standard business policy covers cyber losses. Check the wording and make sure the security information supplied to the insurer is accurate and kept up to date.

Review your cover before you need it

Good security habits and suitable insurance serve different purposes. One helps reduce exposure; the other may provide resources to manage an insured incident. Both need to reflect how your business operates today.

Speak to Signature Concierge today to arrange a business insurance review and explore whether cyber cover is appropriate for your business.