Cyber Claims

How a Pandemic Can Impact Cyber Claims

In the wake of COVID-19, every industry across the United States has rapidly made changes to the way they operate. For most businesses outside of healthcare, the main adjustments have been to move to virtual work or to close down and lay off employees. Here are the main cyber claim examples of the areas that will likely receive the most impact due to remote or reduced work.

Employee Mistake or Malfeasance

With so many employees now working from remote locations, security risks are much higher. According to Axis Insurance Services, if a worker loses their laptop or it is stolen, all of the job-related information it holds could be at risk. If someone works from home, the other members of their household potentially have access to private files and important documents. Even if it is unintentional, important information could be compromised, shared, or deleted without the employee’s knowledge.

Additionally, it is likely that home computers and laptops are much less secure than those the workers would use in the office. This opens the company up to all sorts of hazards for their data. You could also encounter a large number of unhappy employees who have been laid off or furloughed. If any of these individuals wished to harm the business and its owners, they would have a much easier time than someone who has never worked inside the company. It is critical for businesses to assess and possibly increase their cyber insurance coverage. Make sure your business is protected against these rising security risks.