Cyber-crime insurance policies no defence against cyber-attacks

Are you getting complacent about ransomware attacks because you have cyber insurance?

It is estimated that around 60% of businesses in the US infected with ransomware don’t have the right cyber security systems and procedures in place because of this very reason. Australian businesses can learn from what is happening there. Many Australian businesses do have a cyber-security liability insurance policy that has them covered in the event of an attack but, similar to their US counterparts, they may not have adequate measures in place to combat a cyber-attack.

It is little wonder then, that with cyber-attacks on the rise and businesses not being properly prepared with strong security measures that we are seeing cyber insurance premiums rising yearly.

Technical Sales Manager Joel Newey at Integrated ICT said businesses can’t rely on their cyber insurance policy as a defence against cyber-attacks, rather they need to increase their IT security standards as just one cyber-attack on a business could mean catastrophe.

“The answer is investment in security and resilience. You must invest in fortifying your defences and your disaster recovery strategy to mitigate an attack that could see you lose clients, lose revenue, and potentially spell the end for your business,” says Mr Newey.

Blocking potential cyber-attacks is one part of the story, ensuring a well-maintained disaster recovery strategy is operating is also vital to business continuity. Integrated ICT provide end-to-end ICT solutions to many Aboriginal Service Enterprises including managed ICT services and disaster planning. Many are Aboriginal Health Service Providers who need to ensure they can continue providing essential services consistently.

“One of our clients is GRAMS (Geraldton Regional Aboriginal Medical Service) who provide care to the Mid West and Gascoyne residents. Their ability to provide reliable services became even more critical during pandemic times. To help guard against potential detrimental attacks, we enabled the ability to run Disaster Recovery tests on GRAMS production servers and validate business continuity monthly,” said Mr Newey.

Are you up to date with your systems that guard against cyber-attacks? Do you have peace of mind that you can recover your data in the event of an attack? The best place to start is with a cybersecurity audit to get a roadmap for what you need to do. Speak to the Integrated ICT team about an ICT health check. Call 6374 8200, email hello@integratedict.com.au or complete the online form.