Why Staffing Agencies Need Cyber Liability Insurance

Why Staffing Agencies Need Cyber Liability InsuranceWhy Staffing Agencies Need Cyber Liability Insurance

Cyber Liability security reached an all-time high at these past Olympics. Security Operation Centers operated 24/7 to monitor threats. Ethical hackers were employed to test the security and capability of systems and staff. More than 3,500 information technology engineers and technicians have been assigned to monitor the Olympic Games’ computer systems and networks. Over 12 million attacks a day were logged during the Beijing Olympics four years ago, according to the LA Times. This post is provided by World Wide Specialty Solutions Staffing Insurance Programs.

But as a staffing agency, why should you worry about Cyber Liability? Olympics security and cyber threats are played out on a huge international scale- the grandeur and complexity of the entire event puts a target on its back for hackers. Why would a cyber criminal halfway around the world target you? Nevertheless, they demonstrate a very real threat.

The internet has revolutionized the job hunt. Resumes, writing samples and cover letters are all submitted online. Interviews are conducted via Skype, and there are hundreds of job sites with thousands of postings. We can work more efficiently and with greater connectivity than ever before. As a staffing agency, this also increases our risk. According to the Federal Communications Commission, theft of digital information is now the most commonly reported fraud, surpassing physical theft.

Security research in Entrepreneur showed that as large corporations do more to lock down their infrastructure, small to midsize businesses become “low hanging fruit,” easily susceptible to cyber crime. Being educated and up to date on how to protect against cyber liability threats is key to protecting your staffing agency. The FCC has a Cyber Planner for staffing agency owners to help them develop and manage an anti cyber crime policy.

World Wide Specialty Programs has always had a singular purpose – to design, develop and provide Staffing insurance programs, such as Cyber Liability Insurance for the staffing industry. Our method is simple: track those changes; listen to emerging needs, and respond. We work with over 2,000 insurance brokers nationwide. We know the staffing industry better than anyone. Contact us today for more information about our Cyber Liability Insurance solutions.