Please find our industry-specified risk assessment forms at the bottom of the page.
Cyber Insurance is one of the most important things an organisation can cover themselves against in todays world. Here, we look at the common risks a company could be exposed to, and provide you with industry-specific ‘cheat sheets’ to highlight where you could be at risk.
Although utilising an electronic signing service can be a convenient way for your organisation to digitally sign and exchange important documents (e.g., contracts, tax documents and legal materials) with stakeholders, doing so also carries significant cyber-security risks.
Cyber-criminals can utilise a variety of scamming techniques to trick electronic signing service users into sharing sensitive information, such as their signature, financial information, and other personal data. From there, the criminals can use that information for a range of destructive purposes—including identity theft and other costly forms of fraud. These scams have become an increasingly prevalent threat amid the ongoing COVID-19 pandemic, as many organisations have transitioned to fully remote operations.
In fact, DocuSign—a popular electronic signing service provider—recently released a statement regarding several new phishing scams that cyber-criminals have implemented to fool victims into thinking they are using DocuSign’s services. These scams entail the victim receiving a fraudulent email that appears to be from DocuSign, urging them to either click on a malicious link (which then downloads malware on the individual’s device) or provide their personal information (which scammers then access to commit fraud).
Whether your organisation uses DocuSign or a different electronic signing service, it is important to educate yourself and your stakeholders—including employees, investors, customers, and suppliers—on how to detect and avoid falling victim to these phishing scams. That being said, consider the following cyber-security tips:
- Be wary of responding to emails that claim to be an electronic signature request—especially if you were not expecting a request or do not recognise the name of the individual or organisation sending the request. Trusted senders would let you know they are sending a signature request before doing so.
- Never click on links from electronic signature emails that appear suspicious—especially if the URLs for those links redirect to websites that are not secure or recognisable.
- Review electronic signature emails for generic wording, grammatical errors, and misspellings (both in the body of the email and within the sender’s email address). These mistakes are often key indicators of a phishing scam.
2020 saw a wide range of changes and advancements in workplace technology utilisation for organisations. But as digital offerings continue to evolve, so do cyber-security threats. That is why it is crucial to remain up to date on the latest technology trends and adjust your cyber-risk management strategies accordingly. As your organisation starts to prepare for 2021, keep the following emerging cyber-security concerns in mind:
- Remote work issues—While remote working is a valuable method for protecting staff from the ongoing COVID-19 pandemic, this practice can also lead to increased cyber-security vulnerabilities. After all, many employees may not have the same security capabilities in their work-from-home arrangements as they do in the workplace. As such, make sure your organisation provides remote staff with appropriate cyber-security training and resources, as well as implements effective workplace policies and procedures.
- Cloud hijacking concerns—With more employees working from home, maintaining cloud security is crucial. Cloud breaches have become more common in the past year, as cyber-criminals have developed a method for hijacking cloud infrastructures via credential-stealing malware. To avoid this concern, utilise trusted anti-malware software and update this software regularly.
- Elevated ransomware threats—Cyber-criminals continue to create new and improved ransomware attack methods each year. According to recent research from Cybersecurity Ventures, it is estimated that ransomware attacks will cost organisations approximately £14 billion in 2021, with an attack estimated to take place every 11 seconds. To help protect your organisation from ransomware attacks, use a virtual private network, place security filters on your email server and educate staff on ransomware prevention.
- Data privacy expectations—As more organisations start storing sensitive information on digital platforms, data privacy is a growing concern. If your organisation stores sensitive information digitally, it is vital to utilise proper security techniques to protect such data (e.g., encryption) and abide by all relevant data privacy regulations.
- Skills shortages—Despite ongoing advancements in workplace technology, cyber-security skills shortages have become a major issue for many organisations—with the demand for cyber-security professionals exceeding the number of individuals who are qualified for such a role. This shortage emphasises the importance of investing in effective cyber-security tools across all workplace devices to help minimise your risks.
Cyber-risk Exposure Scorecard – Offices
Cyber-risk Exposure Scorecard – Retail
Cyber-risk Exposure Scorecard – Motor
Cyber-risk Exposure Scorecard – General
