Virtual assistants help businesses up and down the country run better.
In 2018, over 13,000 small businesses were employing a virtual assistant. And the growing popularity of remote working is convincing more to bring one on board.
Having clients rely on you, and often working solo, can bring its own challenges. If something goes wrong, you’ve got to be ready to jump into action.
Waking up to a PC infected with malware or ransomware is the last thing you want on a Monday morning. So how can you protect yourself? And what should you do if it happens?
Virtual threat, real problems
Cybercrime is no joke. Every 19 seconds in the UK, a small business is hacked.
Cybercriminals usually want one thing: data. They’ll go where they can find the most data for the least amount of effort. A lot of the time, that’s a small business.
An average cyber-attack costs a small business £4,200, often a lot more. Not to mention the cost of a breach to your reputation. That can be a difficult loss to swallow.
The reality is, as a virtual assistant, you get targeted because of the data you use and store.
Cyber insurance for virtual assistants is a vital tool in combatting the harmful effects of cybercrime and covers you if you’re hacked. We’ll talk about how in the next section.
But there are other ways to stay safe.
The National Cyber Security Centre has put together a useful guide for small businesses. It’s got lots of helpful advice that can reduce the risk of falling victim to cybercrime.
But even with a cybersecurity strategy, breaches happen. When they do, you might struggle to work. Or you could be staring down the barrel of an expensive legal process. That’s where cyber insurance comes in.
Protect yourself
Cyber insurance for virtual assistants helps your business deal with the damage a cyber-attack can cause. It can be your lifeline when you’re struck by a data breach or cyber-attack.
It covers your direct costs, like paying for your legal fees or a ransom.
You can also add on optional cyber business interruption cover. So you’ll be able to claim back your lost income and extra working costs. Or extra cover for social engineering and financial cybercrime - two of the most common forms of cybercrime.
After you’re hit by an attack, it also sends in experts to help you recover.
To start, a team of cybersecurity experts will stop the attack, if necessary, shore up your security, restore your systems, and get everything under control.
After they’ve worked their magic, the legal experts are sent in. They speak to the right people for you – like the Information Commissioner’s Office – and help you sort out any other complicated legal things, like compensation and fines if you’re sued for losing sensitive data.
A PR team will also get involved. They’ll help you speak to your clients about the breach.
Oh, and just so you know, if any of your suppliers cause a breach, you’ll be covered. It won’t help you with the awkward conversation afterwards, though!
Different cyber insurance policies cover different things. Most basic ones don't cover social engineering or financial cybercrime.
Social engineering is a type of attack that manipulates someone into accidentally giving away information or doing something for a cybercriminal. This could be leaking data, sending money, or revealing login info.
About 98% of breaches use some kind of social engineering. If you’re shopping around, make sure to read the policy wording carefully before signing on the dotted line.
What’s the difference between cyber insurance and professional indemnity insurance?
You might have professional indemnity insurance. It covers you if someone accuses you of negligence, poor service, or acting in bad faith.
It’s perfect for protecting against loads of things that can lead to bringing the lawyers in.
You might’ve been wondering this whole time: doesn’t professional indemnity cover me against cyber-attacks?
The short answer is, probably not. A lot of policies don’t allow claims for cybersecurity and data protection.
Cyber insurance fills these gaps.
Get up to speed
Knowledge is half the battle when it comes to cybercrime.
Some cyber insurance policies come with training to get you up to speed.
It teaches you about social engineering attacks, like phishing. And it helps you spot dodgy emails and texts that might lead to a data breach.
About half of the cyber-attacks in the UK work because of phishing. Being clued up can mean never clicking on a bad link or sending money to a faraway prince. Trust us, it’s not a safe investment.
But what happens if you do click on that link offering a lifetime supply of free chocolate? (Because let’s face it, who wouldn’t?)
You can contact most cyber insurers 24/7. So even if you click that link at 1am, they can get to work straight away. And it gives you a better chance of recovering quickly.
Some will even continue to support you after the breach is fixed. Their experts can help you put in a bunch of new systems to protect you in the future.
Find out more about cyber insurance for virtual assistants
Cyber-attacks happen every day. They could be your fault. Or you could just be an unlucky target.
The outcomes of an attack are really difficult to deal with. Especially as a virtual assistant where time is money.
Don’t leave it to chance. Find out more about cyber insurance . Or call our team on 0345 222 5391.
Image used under license from Shutterstock.