Cyber Crime – Take steps now to reduce your risk

Whether you’re a large or small commercial haulage operator, the chances of your business being the victim of cyber crime are increasing daily.  As more SME’s in the UK develop their online presence and operate in a more digitised way, your business could, unwittingly, be exposed to more risk.

Smaller, less secure businesses are becoming increasingly attractive targets for cyber criminals. According to the Federation of Small Businesses, (FSB) around seven million cyber-crimes are committed against smaller businesses in the UK every year. That’s 19,000 every day.

What’s the business impact?

A cyber-crime incident typically costs a small business victim nearly £3,000. The impact is not only a financial one. Attacks can be disruptive for your staff, for your suppliers and for your customers, especially if the security of sensitive customer or financial data is breached.

The Government’s BIS 2014 Information Security Breaches Survey reported that 81 per cent of large organisations had experienced some sort of security breach, costing on average, between £600,000 and £1.5m.

Insurance industry pundits reckon that around 90 percent of SME’s have no cyber insurance in place, warning business owners to be proactive and take practical steps to protect their businesses against growing cyber threats.

Steps you can take to protect your haulage business

The first step is to carry out an audit in your business to assess where you might be at risk.

At Andrew Bourne and Company, we have a simple cyber risk exposure scorecard to help you that’s a great starting point. Once you’ve completed your scorecard, you can begin to plan what’s required to protect your business, back up your business data and keep your business information secure.

There is a useful ten tips guide here –https://www.gov.uk/government/publications/cyber-risk-management-a-board-level-responsibility/10-steps-summary

It is important to remember that no organisation is ever immune to the impact of cyber crime. As well as taking as practical steps, cyber liability insurance has also become an essential component of any business risk management programme.

Our team spends time getting to know how your commercial haulage operation works, to create a bespoke insurance solution that protects your business. For a copy of our cyber risk scorecard and to find out more cyber liability insurance, please call David Crowther or one of the team at Andrew Bourne and Co. on 0116 272 0770 today.