Cyber Breach Recovery

Cyber Breach Recovery

Any business, big or small runs the risk of being exposed to cybercrime. But do you know what to do in the event of a data breach? The first couple of hours can have a huge impact on the extent of your loss and your data breach recovery efforts. 

Here are 4 steps to guide you and help you react wisely and recover quickly:

1. Stop the breach in its tracks 
It is very tempting to try to tackle this problem on your own or just with your IT contact, but it’s important to take immediate action with not just your IT, but also your security and personnel measures. You’ll be able to work as a team and get the issue resolved quicker. 

2. Get to the source of the problem
You will need to investigate and figure out what was affected and how. There are 3 questions you should always ask:
• What data was affected?
• How did the event happen?
• Can you fix the problem yourself?
Remember to stay calm and calculated in your action. Impulsive reactions can make things worse, especially when you act without advice from your security experts.

3. Be transparent and work together
From your legal team and human resources to public relations and your board of directors, everyone should be kept in the loop and work together to align their messaging for any type of communications.

It is now required that organizations notify affected individuals and organizations of certain cyber breaches that can create a real risk of significant harm so you’ll need someone to coordinate your communication during your data breach recovery. 

4. Focus on recovery
Once you’ve stopped the data breach, it is now the time to focus on getting your business back up and running like normal. 

There are a few things to keep in mind during this phase:
• Choosing your data breach recovery partners wisely. It may be easier working with vendors who’ve been through the same situation before. This will give you the confidence in their ability to help you get through this time.
• Providing customers access to credit monitoring services. Offer affected customers credit monitoring services to help them recover as well as help you understand how many customers were impacted by this breach.
• Planning for litigation. Unfortunately, it is common for legal fallout to happen when data breach occurs. This can be stressful so it is crucial to be prepared and have the light legal support. 

Guaranteeing that your business will not avoid having another data breach is simply impossible. No matter how extensive your security measures are, you will always be at risk for another data breach. However, reviewing the proper steps and modifying your routine accordingly will help you reduce the likelihood of your organization being a victim of cyber breach again. For more information or to get a free quote on commercial insurance, call us today at 905-696-9090 or email us at This email address is being protected from spambots. You need JavaScript enabled to view it. 

Source: Northbridge 

 

Why Did My Home Insurance Premium Increase at Rene...
Human Resources Trends for 2019