The UK Insurance Blog

Internet crime can affect any one of us, according to a recent article in Professional Broking. The author, goes on to reveal the malware threat to Information Technology systems operated for brokers.

The article demonstrates how hackers are now joining together and forming organizations dedicated to breaking into systems anywhere they choose. Frightening how one such ‘company’, Asprox, (the product of a merging of capabilities) have turned hacking into a recognised criminal profession.

Anyone with an IT system in the UK is at risk of penetration thanks to the presence of malware. What appears to be an innocent email could be the beginning of the downfall of your system. This is how it works. After opening an email and clicking on a link, we end up in an infected website. At this point and in this realm, we are vulnerable to the hacker who then sets about controlling our computers on a remote basis. At this point, the hacker will set about stealing your information by uploading a program. Any information he successfully achieves (banking details, credit card information) is sold to whoever wants it.

It is not just the big businesses being targeted for this kind of criminal activity, they are interested in smaller systems to a greater extent mainly because they are easier to break in to. If you are a broker on an internet based system, you could be exposed and at risk. Accessed remotely, your site could be vulnerable to bots or automated computer operations by hackers. And just when you thought the misery couldn’t get any worse, beware all brokers with websites and own servers for the hacker will then be able to attack anybody who is unprotected that you deal with.

There are a number of ways to protect yourself and your company against this type of web crime but we must not overlook the necessity of insurance against computer viruses. In the event that your system is hacked, you are liable to civil liability fines to the extent that could ruin you and your business. If you do have insurance cover, read the small print to ensure it is not just limited to cover you against physical damage to your computer. Computer viruses leave no physical trace and it is this intangible damage that you should be protected against.

Check out Katherine Brandon’s article “Internet crime - Criminal evolution heads online” for ways to avoid hacking and to protect effectively against internet crime.

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I was reading the Hartlepool Mail and stumbled upon an interesting article about starting up in business. As someone just beginning myself I found it helpful. Apparently too many of us go diving in without a thought for planning and preparation. This article stated that about fifty per cent of new businesses fail within three years. What do we need to do to succeed? What are these failing business doing or not doing that they should?

According to the article, when setting up your business there are a few things to take into account, which in the end could be your saving force.

What are the golden rules in business? We need to know what they are to succeed. The article mentioned the best thing to do before starting was to prepare by seeking business advice and that this would be best heard from reputed organizations like Business Link and Business Gateway. These places would be able to recommend to practicalities of a business plan.

Right at the beginning you need to look at your personal qualities and how far you are willing to push yourself to make your new business a success. If you need to work day and night to get it off the ground, are you willing to do this? Are you happy to go out and find out if people really would buy your product? It is incredible how many new entrepreneurs believe they can work round the whole market research area. Without research preparation, you will not know your target market. Without knowing who your customers are, how will know how to reach them to sell your product? Will anybody even be interested in your product? It is a ‘Catch 22’ situation. You have got to do your market research!

Make sure you mug up on taxation too. Will you be registering for VAT and PAYE? What business insurance cover are you going to require? Get it all planned out at the beginning and there will be no scary surprises later on.

The message is clear, save yourself sleepless nights later on by being prepared and ready for whatever comes your way.