In our ever-connected world, business owners are finding themselves at the forefront of a new threat: ransomware.

Ransomware is a form of extortion in which hackers often access connected business devices, install debilitating malware, then demand payment for removal—a risky solution that can be costly.

Businesses of all sizes are being targeted, and small businesses may be more vulnerable since they often don’t have the security measures or training in place to defend themselves. Last year, ransomware attacks caused $5 billion in damages, according to CyberScout, a top security protection service provider in the insurance industry.

Grange Insurance can help protect your agency and your clients from these threats. Here are some steps you can take to shore up your defense:

• Stay informed about cybersecurity threats and outbreaks.
• Back up files regularly and separate backups from your network.
• Educate employees to avoid email phishing attacks.
• Keep software current, especially operating systems and antivirus.
• Strengthen email defense, including filters and authentication.
• Use cybersecurity services to proactively monitor and respond to threats.
• Have a response plan in place for regaining control of systems.

If your business is attacked, contact law enforcement right away. Then, follow these steps to get your business back up and running:

• Contact your IT service provider and cybersecurity monitoring provider, if you have one.
• Obtain temporary server space to restore your systems if law enforcement needs your computer or servers for an investigation.
• Wipe hard drives, restore systems and download clean versions of your files from an uninfected backup. Then, run a scan.
• Obtain legal counsel to determine if a data breach has occurred.

Working with partner CyberScout, Grange Insurance is here to help keep your information secure. Our cyber coverage is included on all eligible business owners and commercial package policies so you can protect your agency as well as your clients’ businesses.

Learn more about our cyber coverage or become a Grange agent.