It’s one of those things that everyone knows they should do, but they don’t: making sure they are using strong passwords.
We all know we should be using strong passwords to protect ourselves and our businesses when we’re online. But studies show that many of us are still using passwords like “123456, ” which has topped the list of most-used passwords nationwide for several years now. According to Cybernews.com, it held the number-one spot again for 2023.
Are you or your staff guilty of using one of these? You may want to change them as soon as possible! Chances are, your passwords could use some improvement. That’s why we wanted to share with you four easy steps you and your staff can make to protect yourself and your company:
Use a different password for every online account. You need a strong AND different password for each of your online accounts to protect yourself against hackers. Using the same password over and over makes it easy for someone to gain access to all of your accounts if they guess it.
Use phrases instead of single words. One-word passwords remain popular. Adding a few numbers to a single word isn’t a great solution, either, security experts say. Passwords instead should be comprised of a long string of seemingly random uppercase and lowercase letters, numbers, and symbols. A phrase can also be a strong password. Start with song lyrics or a phrase. The more obscure, the better! You do not have to use spaces in these phrases. Just type all of the words into one, long password.
Use several special characters. Add characters throughout your password in place of letters, in between words, or at the beginning or end of the password. For example, the strong password version of “TheQuickBrownFoxJumpsOvertheLazyDog” could be “Th3Qu1ckBr0wnF0xJump$0verTh3LazyD0g.” Use a not-so-obvious phrase, though, that you’ve made up yourself. Don’t include your own name or birthday or information relating to you or any of your family members in your password.
Use a password manager and two-factor authorization. Now that you have several different quality passwords for all of your log-ins, it is time to remember them. A password manager (we recommend LastPass) is a secure spot that remembers those complex passwords for you through a two-factor authentication system. Two-factor authorization requires you to provide a second form of identification, such as a multi-digit code texted to a smartphone, to log into an online account. It’s a highly secure way to protect your private information. So, instead of remembering dozens of passwords, you just need to remember one.
Ensuring that team members use strong passwords is paramount for insurance agencies and underwriters due to the sensitive and confidential nature of the information they handle. Insurance companies deal with vast amounts of personal and financial data, including policyholder information, financial records, and claims data. In an era of increasing cyber threats and data breaches, strong passwords act as the first line of defense against unauthorized access and cyberattacks. Weak or easily guessable passwords can be exploited by malicious actors, potentially leading to data breaches, financial losses, regulatory penalties, and reputational damage. By mandating strong password practices, insurance agencies and underwriters not only protect their clients’ sensitive information but also bolster their cybersecurity posture. This proactive approach helps maintain trust, compliance with data protection regulations, and the overall integrity of the insurance industry, ensuring that policyholders can have confidence in the security of their personal and financial data.
