Cyber Insurance – Public Wi-Fi Risks
Cyber Insurance – Public Wi-Fi Risks
Wi-Fi hot spots can leave you, your colleagues, and your staff wide open to hackers. Once hackers penetrate your server, your company’s information is vulnerable. This makes transferring risk through cyber liability insurance a critical component of your company’s risk management program.
- 95% of Wi-Fi data traffic is unencrypted.
- T-Mobile and AT&T— the largest providers of Wi-Fi hot spots — don’t require encryption of data traveling wirelessly between laptops and the Internet. Neither do hotels and municipalities with free Wi-Fi hookups in public areas.
- Criminals use off-the-shelf routers, equipped to broadcast Wi-Fi hookups around the home, to spoof popular paid services. After broadcasting a bogus T-Mobile or AT&T connection signal, the spoofer captures data transmitted by victims.
How you prepare for a cyber attack is also important. One reason insurance payouts sometimes fall short is an underwriter might determine the insured was negligent regarding security, even for something as simple as failing to advise staff on the perils of using public wi-fi networks.
As targeted network attacks continue to proliferate, forward thinking organizations are transferring their risk to cyber liability insurance products. Contact your KMRD Partners relationship manager to review your organization’s cyber insurance risks before one minute from normal strikes. The way you manage the premium costs for this coverage is through having a robust process and policies for cyber management. KMRD Partners can assist you in developing policies to better protect your organization.
KMRD reduces the overall cost of risk by producing a greater value for each commercial insurance dollar spent, while utilizing an enterprise risk management approach to engineer the optimal solution.
We are dedicated to the mitigation of risk, safety and loss control and claims advocacy, while helping firms recover from unplanned events that wait on the other side of one minute from normal.
For more on Cyber Risks click here.
To identify and correct coverage and service gaps in your insurance coverage contact us at contactus@kmrdpartners.com before one minute from normal strikes.
Need to deliver better risk management results for your company? Schedule a brief demo of our unique collaborative risk management system, KMRD XChange.
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