Update: Covid-19 Pandemic and Cyber Risk Management

During this unprecedented time, the Covid-19 pandemic will test business continuity and resilience. Due to the increasing number of employees working remotely and people eager to click on the latest Covid-19 news updates, businesses are being exposed to greater risk from cyber-attacks.

The National Cyber Security Centre (NCSC) and the FBI have both reported that cybercriminals are exploiting the disruption and uncertainty caused by the current Covid-19 events around the world. More than ever before, there has been an explosion in the numbers and frequency of emails, SMS and phone calls designed to trick employees to divulge login credentials or to install malware and open backdoors.

Therefore, it is crucial for businesses to equip and prepare their employees for these risks and take the necessary precautionary actions as quickly as possible.

Fortunately, many of these forms of “attacks” can be mitigated through vigilance and simple best practices that staff of organisations can follow. Our Covid-19 WFH Cyber Hygiene Guide can be disseminated by organisations to help raise their level of defence at the frontline.

Cyber risk will be unique to each business and therefore risk management and safeguarding key critical data assets remain critical. Whilst Cyber Insurance will not protect you from an attack, it can cover the potential financial damage of an attack and assist with business continuity and recovery. Cyber Insurance not only covers legal liability should you suffer from a breach to your systems and data but also provides critical incident response expertise when you need it most.