Financial Archives - Lockton Affinity

Cyber Fraud Coverage for Fiduciaries: Computer Fraud vs. Funds Transfer Fraud

Most registered investment advisors see any potential fraud involving computers as a serious risk to business, but fraud coverage within a cyber liability policy can vary.

Unlike RIAs, insurers don’t think of cyber risks like fraud as one single risk, but as many varied risks. Policy underwriters break out these risks into categories, offering more, less or no coverage depending on a number

July 27th, 2022|Financial|

8 Cyber Risks from Working from Home

A lot has changed about the way businesses work over the last few years, including a rise in the cyber risks from working from home for business professionals.

Most computer systems at big offices are well protected from everyday intrusions. Computers at home are not. This wasn’t as much of an issue until large numbers of business professionals began working from home during

June 28th, 2022|Financial|

Implementing Regular and Redundant Backups

About Regular and Redundant Backups

Making regular and redundant backups is a simple practice you can implement to help protect against data loss and ensure the continuity of your business.

Regular and redundant backups are designed to provide a dual layer of protection:

  • Regular backups guard against the potential for a loss of data that would be difficult or impossible to replace.
  • Redundant backups
September 16th, 2021|Financial, Franchise, Healthcare, Small Business|

Vehicle Safety for Small Businesses

Vehicle safety for businesses is a top priority. Every year, preventable accidents claim lives and cause millions of dollars in damages. By applying tried and tested safety standards to the operation of your vehicles, your organization can reduce the risk of accidents and claims.

Vehicle Safety Standards for Small Businesses

The Department of Transportation has outlined safety standards for pre-trip and post-trip inspections for commercially

September 16th, 2021|Financial, Franchise, Small Business|

Encryption of Sensitive Information

Data encryption is an essential tool that helps protect the confidentiality and privacy of your firm’s sensitive digital information during storage and transmission.

This complex technology automatically scrambles your data to protect it from prying eyes and unscrambles the same data so that you and other authorized parties can work with it.

Encryption works seamlessly in the background every day to secure data, including

September 16th, 2021|Financial, Franchise, Small Business|

The Importance of Multi-Factor Authentication and Strong Passwords

The importance of multi-factor authentication and password security is critical. Often, it is your best line of defense for protecting all your data, devices and systems from unauthorized access. Unfortunately, many don’t take password security seriously, which makes them especially vulnerable to hackers.

Good password security can help protect you from data breaches, network intrusions, malware and viruses. It can also minimize your

February 24th, 2021|Financial, Legal, Non-Profit, Small Business|

Increased Ransomware Attacks Targeting Law Firms

News about the outbreak and spread of Covid-19 dominated headlines in 2020. Yet for many law firms, Covid-19 has not been the only kind of virus threatening their businesses. In the past year, there has been a massive surge in ransomware attacks targeting law firms and their computer systems.

Ransomware attacks have created a cyber crime epidemic, costing law firms hundreds of millions

December 18th, 2020|Financial, Legal, Small Business|

Minimizing Your Data Risks with Secure Passwords

Business owners must strike a careful balance between maintaining easy access to digital files and safeguarding the business’s confidential data. Hackers are becoming more and more sophisticated, which means it’s more important than ever to use secure passwords for all your files and devices.

To stay safe, your business’s password security must evolve to keep pace with advancing risks. Make sure you understand

Forming a Cyber Attack Response Plan

Cyber attacks are common and damaging for businesses. Yet many businesses do not have a sufficient cyber attack response plan of what to do in the event of a cyber attack. Even with the increasing frequency and cost of cyber incidents, as many as 34% of businesses don’t have a formal response plan applied uniformly across their entire

September 25th, 2020|Financial, Legal, Small Business|

Your Guide to Working with Vendors

For modern businesses and organizations, working with vendors is key. Specialized vendors help increase efficiency, meet the needs of customers and communities and positively impact growth and economics. Yet working with vendors also involves challenges, such as the need to manage risk and minimize exposure.

The right level of insurance protection for both you and the vendor is key, so that both parties

February 28th, 2020|Financial, Franchise, Small Business|