Technological advancements make life easier. But, they can come at a cost. Every day it seems like another data breach story hits the news. As individuals and families use more technology, there is a lot at stake when it comes to protecting themselves online.

Avoid putting your family at risk:

• Keeps tabs on your information
  Monitor your children’s information as well as your own. Partly because of their unused credit and Social Security numbers, children are targeted for identity theft 35 times more often than adults.


• Understand policy terms
  Banks and credit card companies typically offer fraud protection, so learn the policy terms. Victims of identity theft may be eligible for free security freeze services as provided by each state’s security freeze law. If you keep money in investment accounts, ask your advisors about protection in the event of a security breach.


• Set social limits
  Weigh and consider sharing personal information on social media as it could increase vulnerability. The more hackers know about you, the easier it is for them to build data profiles with your information.


• Weigh costs against risks
  Some homeowners policies now offer identity theft protection, including access to credit monitoring and repair services in the event of a breach. This coverage may not refund what was lost, but instead cover the costs associated with restoring your personal identity.


• Reconsider fancy features
  Innovations in automobiles can mean new risks to personal data and safety. Before buying that fancy new car, make sure you understand the technology features and how accidents caused by technological malfunctions are covered.

Cybersecurity and Small Businesses
Small companies are targets for hackers as they possess sensitive information but typically have less security than larger companies. Cybersecurity insurance provides coverage for compromised security or privacy breaches at work. Business cybersecurity policies tend to be highly customized and therefore, costly.

Take steps to help secure your business:

• Conduct a security and self-risk assessment. Determine what to protect, what protections exist and where the gaps exist. Identify the tools you need to protect this information.


• Implement sound cybersecurity procedures and training for employees. Educate employees on smart use of social media, how to spot suspicious emails and not connecting to public Wi-Fi on a company device.


• If your small business has a disaster recovery plan, consider cybersecurity insurance as part of it. If you don't have such a plan, consider creating one. Developing procedures and identifying threats is important but you also must understand your vulnerabilities.


• Always back up important business systems and data. Implement settings encouraging regular password changes, restrictions on the websites employees can access, as well as strong security software.

If you are ever unsure of insurance laws specific to where you live, contact your state insurance commissioner.