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5 Cybersecurity Trends to Prepare for in 2021

In 2020, we saw a wide range of changes and advancements in workplace technology utilization for all types of businesses. But as digital offerings continue to evolve, so do cybersecurity threats. It’s crucial to remain up-to-date on the latest technology trends and adjust your cyber risk management strategies accordingly. As we begin 2021, here are 5 emerging cybersecurity concerns to keep in mind.

Remote work issues

While remote working is a valuable method for protecting staff from the ongoing COVID-19 pandemic, this practice has also led to increased cybersecurity vulnerabilities. After all, many employees may not have the same security capabilities in their work-from-home arrangements as they do in the workplace. Make sure your organization provides remote staff with appropriate cybersecurity training and resources, as well as implements effective workplace policies and procedures regarding cybersecurity.

Cloud hijacking concerns

With more employees working from home, maintaining cloud security is crucial. Cloud breaches have become more common in the past year, as cybercriminals have developed a method for hijacking cloud infrastructures via credential-stealing malware. To avoid this concern, utilize trusted anti-malware software and update this software regularly.

Elevated ransomware threats

Cybercriminals continue to create new and improved ransomware attack methods each year. According to recent research from Cybersecurity Ventures, ransomware attacks are expected to cost organizations more than $20 billion in 2021, with an attack estimated to take place every 11 seconds. To help protect your organization from ransomware attacks, use a virtual private network, place security filters on your email server, and educate staff on ransomware prevention.

Data privacy expectations

As more and more organizations start storing sensitive information on digital platforms, data privacy is a growing concern. If your organization stores sensitive information digitally, it’s vital to utilize proper security techniques to protect such data like encryption and abide by all relevant data privacy regulations.

Skills shortages

Despite ongoing advancements in workplace technology, cybersecurity skills shortages have become a major issue for many organizations—with the demand for cybersecurity professionals exceeding the number of individuals that are qualified for such a role. This shortage emphasizes the importance of investing in effective cybersecurity tools across all workplace devices to help minimize your risks.

With these trends in mind, it’s so important for your organization to consider adequate cyber insurance as a part of your risk management program. Otherwise, you run the risk of lacking the appropriate coverage and dealing with hefty out-of-pocket costs in the event of a cyber incident. For more information on cyber insurance, contact Watkins Insurance Group today. We’re here to help.

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