Data breaches are not as temporary as one might think. They can change the entire course of a business. Businesses, individuals, and governments can all suffer enormous consequences due to exposure of sensitive information. Irrespective of you being offline or online, hackers can get to your data through different methods. Crimes orchestrated through Bluetooth, the internet, text messages that you use can put your private data in jeopardy.

Even with a little carelessness, you may end up with huge losses. Which is why you need a professional to do a proper risk analysis. Our expert cyber insurance brokers in Alberta can ensure that you don’t fall prey to the consequences of any cybercrimes. In the following sections, we will discuss the different aspects of data breaches. We will also help you understand how a cyber insurance broker can save you from any losses in case of a data breach.

Data Breaches: Definition
A data breach refers to exposing confidential, protected, and sensitive information to any unauthorized person. The data or the files that have been a part of the data breach can be viewed or shared without any prior permission. Anybody can be prone to a data breach, from individuals to enterprises.

Small to mid-enterprises are at the most significant risk due to being easy targets and having sensitive data. In fact, a business is even more at risk in the initial set up phase. Your encryptions need to be in place and your security measures should be up to the mark.

Our cyber insurance brokers can protect you from losses caused due to data breaches by getting you the perfect insurance policy. Typically, data breaches happen due to issues in user behavior and technology. As we start using more devices and technology seeps in more into our lives, the risks that come with it are also unavoidable. Our cyber insurance brokers in Alberta are experts at helping you minimize the business damage and any potential third party liability.

Did you know that not paying enough attention to things like proper encryption can put you at a much higher chance of a cybercrime? But, this is just one of the reasons. We will look at the leading causes of a data breach in the sections further.

Causes of a Data Breach
While an external hacker most commonly causes data breaches, there can be other causes too. Some of the most common data breaches are the result of an intentional attack. It can be a result of an individual oversight or an inadequate infrastructure in the company. Some of the common causes are:

● A mistake by an employee
● Intentional breach
● Lost devices
● Outside criminals

All of these causes above can put your company at risk. Your clients are equally at risk of their data being threatened if you don’t have proper infrastructure.

Methods for a Data Breach
We understand that any company can fall prey to unintentional data breaches. But, when it comes to malicious intentions, here are the methods you should know:

● Phishing: Phishing attackers act as people or organizations who can easily deceive you.
● Malware: You can have security flaws in your operating system, network, hardware, software and much more.
● Brute Force Attacks: In such an attack, your attackers will try different methods until they can guess your passwords.

A data breach can be caused by an innocent mistake. However, real damage can occur if the person with any unauthorized access sells and steals personally identifiable information or any corporate intellectual data.

These methods can all affect you, but you can save yourself from all the damage caused by data breaches with comprehensive coverage. Cyber insurance brokers in Alberta know which risks is your business most prone to and accordingly can help you pick the right choice.

Effects of a Data breach
Cyber Insurance Broker:
Our expert team consists of cyber insurance brokers in Alberta who can help you avoid any extreme effects of a data breach. We often tend to think that the company does not need any cyber security. Often, we think insurance is just a high price inclusion in the budget. With a proper selection, it will save you a lot of money in times of a crisis making it an essential investment.

Beneficial Insurance Solutions can help you reach trusted insurers and compare the best quotes, so you get the best deal for yourself. A good cyber insurance broker can also help you pick a product based on your company’s needs in particular. You can contact us to get the best quote for your company and ensure that no cyber issue hurts your reputation or growth.