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If you have read the news in the past few weeks you will have seen a lot of talk about ransomware, or more specifically: WannaCry.  Ransomware traditionally encrypts files on your computer and holds them ransom with the promise of unencrypting or restoring them on receipt of the requested funds. 

Ransomware is not new, but WannaCry was unique because it was able to autonomously propagate through email and made its way around the world in a matter of days.  Many business operations were brought to a grinding halt while the owners and IT providers attempted to negotiate the ransom or unencrypt the affected files.

Thankfully, the transmission of WannaCry has now slowed, so while it may not be a top-of-mind concern, this instance still serves as a cautionary tale in cyber risk.  This is a precedent-setting global cyber event and more are to be expected. 

Here are some tips on how to prevent a ransomware or malware attack.

(This isn’t an exhaustive list by any means, but it is a good start.  For more information speak with an IT professional.)

Update your operating systems

WannaCry exploited a known security gap within the Windows operating system.  While Microsoft had issued a “security patch” in March of 2017 to address the concern the afflicted users hadn’t gotten around to updating their systems and paid the price.

Educate your employees and family members on how to detect and avoid phishing attacks

A phishing attack is when someone (or a bot) sends an email with a link or a file that has a virus or malware attached to it.  These can be very convincing.  Look for spelling or grammatical errors, subject lines that refer to a product you didn’t purchase, strange links, or anything else that doesn’t feel right.  Delete these emails immediately, don’t open them, don’t click on any links and don’t open any attachments.  If they came from a friend or colleague’s email address give them a call to advise them of the breach.

Maintain up-to-date antivirus software

Always ensure you are running up-to-date antivirus software.  Many of these programs update their definitions frequently, so ensure that the updates are automated or that you run them on a regular basis.

Buy cyber insurance

Crossroads has a full suite of cyber coverages that can be added to an existing commercial insurance policy or purchased as a standalone product. Policies can include:

  • Computer Attack –  covers the cost of hiring an IT firm to get things running again in the event of a cyber attack against your computer or systems.  You can also be reimbursed for loss of income during the downtime.
  • Lawsuits based on security failure – if you are seen to be negligent in maintaining your computer systems this coverage will come to your aid should a lawsuit be filed.
  • Breach of Privacy Laws – with the forthcoming changes in Canada’s Digital Privacy Act businesses can be held responsible for a breach of privacy that hasn’t been reported to the Privacy Commission.   Failure to do this can result in fines, fees or civil lawsuits again your business; the cost of which can be covered by certain cyber policies.
  • Cyber Extortion – pays the fees associated with hiring a professional firm to handle and negotiate and deliver ransom demands.

Cyber Risk Insurance is rapidly expanding in the insurance landscape, there are more comprehensive products cropping up all the time.  We promise to continue to look out for your best interest.

If you are interested in Cyber Coverage for your business, please contact our offices for more information.

 

Jamie Taronno, CAIB

General Manager

 

 

 

 

 

Crossroads Insurance

Reopening to the Public!

Effective Wednesday May 27th, 2020, our offices will once again be opening our doors to the public. We will also continue to perform transactions by phone, email and online.

The health and safety of our employees and customers is our top priority and we would like to ensure that safety measures have been put in to place to protect everyone.

We will continue to follow the guidelines set out by the Province of Manitoba and Health Canada. To ensure customer and staff safety, we have implemented the following measures:

  • We will be limiting the number of customers permitted in the office at any one time
  • We have markers placed to comply with physical distancing
  • We have installed protective shields on desks between the insurance advisor and customer
  • Hand sanitizer will be available upon entry to the office
  • The payment terminal will be disinfected in between uses
  • Each station used for a transaction will be disinfected in between customers
  • Further Increased frequency of cleaning and sanitizing

In an effort to minimize the amount of people in our offices at any one time, we will continue to have some of our staff work remotely.

We will continue to maintain reduced hours as follows: Monday to Friday 9:00am to 5:00pm, and Saturdays 10:00am to 4:00pm.

When visiting one of our locations, please respect social distancing both outside and inside the branch, and follow the directions on all signage.

If you are experiencing any COVID-19 symptoms, or have travelled outside the province in the last 14 days, please do not attend the office. We will be happy to help you over the phone, by email, or online.

There may be times when our team members are dealing with increased call volumes and walk-in traffic. Please be patient during this time. Please leave a voicemail and one of our Insurance Advisors will return your call as soon as they are available. You can also send your inquires by email, fax, and through our website.

Thank you for your patience as we work through this together. We will continue to monitor the situation closely and provide you with regular updates.

Please do not hesitate to contact one of our Insurance Advisors who are here to help and ready to assist you.

Your Crossroads Insurance Team