Five Computer Virus Terms and Definitions You Need to Know

…And How Internet Liability Insurance Could Solve Just About Any Cyber Issue

internet liability insurance - cyber insurance - malware definitions

Most people are not even aware of the fact that they need Internet liability insurance, let alone understanding why and what their online security risks are. At Insuring Tech, we believe that knowledge is power, and is the first step in effective online security. Below are five essential computer virus terms and definitions that will help educate you on the importance of cyber insurance.

1) Computer Virus –

What is a computer virus?

A computer virus is a program that can essentially replicate itself and infect another computer that is in some way connected. Some viruses do nothing but reproduce, but others can deeply harm other computers. A computer virus could harm the computers of every employee and every client or customer they are linked to, potentially costing a company thousands to millions of dollars to clean up or repair without proper internet liability insurance.

2) Malware-

What is Malware?

Malware, short for “malicious software,” is designed to corrupt, disrupt or contaminate a computer’s operations by secretly accessing and infecting the internal systems without the owners awareness or consent. Malware is the umbrella term and can sometimes be disguised as genuine or helpful software. Should your company be somehow responsible for distributing Malware (which can happen unintentionally) you would be responsible for the software product recall and again, thousands to millions of dollars in damages. Cyber insurance could cover these costs, which might be so great that they may break a business.

3) Spyware-

What is spyware?

Spyware is a type of malware that collects information about users without their knowledge. Information collected could be anything from personally identifying information to logins, even browsing history. Think about what information your company has stored in either it’s own or externally hosted database, and then think about what would happen if that information were compromised. Internet liability insurance could help save you from the damages that you might incur if your business is a victim or distributor of spyware.

4) Rootkit-

What is a rootkit?

A rootkit is a type of malware that hides the existence of infectious programs from normal methods of protection while giving privileged access to the enabler. This means that your company may have malware that is affecting your employees and your client’s computers and information without even knowing it. Failing to notify others that you could be distributing harmful software can land your company in an even bigger and more expensive mess, with a possible lawsuit on the horizon. In any scenario, cyber insurance could give your company the protection you need from a problem that is out of your control.

5) Electronic Spam –

What is electronic spam or internet spam?

Electronic Spam (not to be confused with the canned and processed “spiced ham,” SPAM) automatically spreads or posts unsolicited and unwanted messages in bulk through contact lists, links, emails, instant messaging, advertisements, forums and more. To reiterate, sending out Spam intentionally or unintentionally can get your company’s email address blacklisted, possibly disrupting imperative commutations. Luckily all issues related to Spam, whether you are receiving or distributing it, could be covered with the right internet liability insurance.

Now that you know all the top five computer virus terms, contact Insuring Tech today for more information on how and why your individual business would need cyber or Internet liability insurance.

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