Chief Underwriting Officer
The business world has been gripped by the recent Sage data breach, which compromised employee data from almost 300 of the company's clients. Providing another reminder of how vulnerable - and valuable - sensitive and confidential data can be, Sage was quick to feel the effects, seeing its share price tumble in the days following the event.
While we're now used to seeing cyber-attacks in the headlines, it turns out an insider leak was to blame at Sage, with the arrest of an employee on suspicion of fraud. And far from an isolated incident, human error by employees – malicious or not - is actually the most common reason for cyber-attacks and data breaches, with studies showing it's responsible for as many as 95 per cent of incidents.
A breach can be caused by anything from employees accidentally sending sensitive information to the wrong email, losing their company smartphone, using default passwords or sometimes with criminal intent. Yet despite the risks, too many companies don't have the necessary controls, training and communication in place to mitigate against breaches of this kind.
Feel like you should be doing more to protect your data? From implementing a cyber security policy, to access management and ensuring you've carried out regular training, you'll find actions you can take in the full article here.
As mentioned in
We've made buying insurance simple. Get started.
- 17 March 20212 minute read
Regulations dictate that a basic level of insurance is a necessity for fintech firms, but it's not always easy to secure. Here's how Superscript is leading the way.