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Written by Adam Miller
3 Reasons Why You Might Need To Update Company Passwords

Thieves have gotten smarter and more industrious in finding ways to steal from businesses across the country. Whether it's stealing raw materials like copper, expensive equipment such as computers and tools, or hacking into computer networks or financial records, thieves are always looking for an easy way to quickly steal as much as they can. Unfortunately, businesses can leave themselves vulnerable to theft and data breaches when they fail to update network passwords, building entry codes, or other security system accounts when changes occur at the company. In today's blog post, we look at three examples of when a company should update passwords, access codes, or other security systems.

Suspicious Network Activity

An immediate red flag for businesses is the occurrence of suspicious activity on a computer network, security camera, secured door keypad, bank account, financial transaction, or email account. Even if no information was breached, or if a criminal was unable to gain entry to a business, it is the perfect opportunity to change passwords in case thieves target your company again. Just because their attempt failed the first time doesn't mean they won't try again, especially if your business uses simple passwords that are never updated.

Employee Terminations or Resignations

With a large number of employees able to work remotely or access work information through mobile or laptop apps, it is critical to ensure secure passwords are changed or accounts terminated for employees who are terminated or resign. By not changing passwords and network access immediately after a resignation or termination, a company can leave itself vulnerable to former employees leaking sensitive company information and customer data, stealing valuable client lists, or taking off with computer equipment and other company assets. Keys, access codes, user IDs, and passwords should all be changed or confiscated when an employee leaves your company.

Granting Access To Temp Workers or Contractors

Many companies rely on contractors and temporary workers to complete projects and meet deadlines, but giving these individuals unlimited access to offices, warehouses, company email, networks, and sensitive data can backfire if there are not precautions taken in guarding access. For example, it has been reported that Target's massive 2013 credit card data breach was caused when hackers gained access to Target's point-of-sale registers through a third-party HVAC contractor that had access to Target's network. Companies can avoid duplicating this mistake by limiting access to contractors and temp workers and frequently changing those passwords to limit access to sensitive company data. In addition, contractors and temp workers should only have restricted access to offices, warehouses, and other areas where company assets and raw materials are stored.

Regardless of the security steps implemented to protect companies, businesses can never be 100% safe from theft or hackers. For this reason, Aegis Insurance & Financial Services is committed to getting companies of all sizes and industries the commercial insurance protection they need to quickly recover from a theft or data breach. Aegis offers top quality commercial insurance policies tailored to specific industries, all with exceptional customer service. Call Aegis today at 713-850-7622 for more information on our Business Owners Policy, Commercial Property, Commercial Auto coverage, Cyber Liability, General Liability, and Excess Liability coverage today. You can also request a free, no-obligation quote on our website!

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