Several popular websites, such as Pinterest and Twitter, start malfunctioning. Millions of dollars get wiped off the stock market value of a company like T-Mobile. These are examples of cyber attacks that didn’t happen but easily could and have at other companies. Take the Target credit card data hack or AP Press Twitter account hack, for instance.

These are irritations compared to what could happen, such as a company’s entire system of data being deleted. So it’s no wonder a new study by the Property Casualty Insurers Association (PCI), “Cyber Catastrophes: Understanding the Risk and Exposure,” revealed that the majority of 622 IT security executives see cyber terrorism as being a critical risk management concern.

“Our research shows an overwhelming majority of the executives surveyed agreed that a large-scale cyber attack against the country could have catastrophic or significant consequences to their companies’ business operations as well as the national economy,” says Marguerite Tortorello, PCI’s senior vice president, public affairs. “The risk managers and executives also agree that a plan is an essential part of their company’s risk management strategy.”

While there are no surefire ways to prevent cyber terrorism in every situation, there are basic steps your organization can take to safeguard its information and digital assets:

1. Secure your company’s systems with hardware and software protection.
2. Install intrusion detection systems.
3. Partner with defensive organizations, such as InfraGard.
4. Make sure your system or network is secured with effective firewalls and strong passwords (i.e., a combination of numbers, letters, and other characters, and never store them in your computer).
5. Install antivirus systems, keep them updated, and run regular checks to detect and remove any problems.
6. Create a firm security policy: Train employees to regularly change passwords, be aware of suspicious email attachments or messages from unknown sources, and implement regular checks to make sure security precautions are followed.
7. Contact PGI to get a quote for Cyber Security Insurance!

As the diverse cyber terrorism threat continues to grow, the U.S., other governments, and organizations are taking defensive measures. Unfortunately, there will always be cases where cyber terrorism can’t be prevented as digital technology continues to evolve. The good news is there are steps we can all take to help in the fight against it.

Request a quote for Cyber Insurance – protect yourself and your company!