Companies of any size are vulnerable to a cyber-attack. A data breach is one of the worst things that can happen to your business. However, failing to respond promptly or mismanaging communications can do serious damage to your reputation – and to your bottom line.
Thorough preparation for a breach can help reduce your risks. If a data breach does occur, take these steps within the first 48 hours to help contain the situation.
Take devices affected by the breach offline, but do not make any changes or shut your systems down. The idea is to stop any ongoing activity without doing anything that might contaminate evidence or erase clues.
Ensure System Auditing Remains Intact
Ensuring that system auditing has been operational and remains intact can help you determine the scope of the data breach and what remediation methods to employ. If auditing has been disabled, restore it. This can help you determine if the breach is ongoing or when it ended.
Changing passwords or locking credentials can help ensure the breach ceases, if it is still active. Many data breaches occur due to compromised credentials and passwords.
Evaluate the Losses
At this point, investigate the damage. Find out what systems were compromised, what information was accessed, and what accounts were involved. You will need to know the scope of the breach to solve it.
Find Out How It Happened
It is important to determine how the data breach occurred to protect your company in the future. Find out if system vulnerability, use of an unauthorized device on the company network, a lost or stolen mobile device, or other method made the incursion possible.
Determine What Action Needs to Be Taken
Determine what needs to be done to remedy the situation, whether it involves updating software, running anti-malware scans, changing network firewall rules, or other technical actions.
Inform Internal Personnel of the Details
Brief the appropriate personnel, informing them that a breach has occurred, how it happened, details of the incident, and what actions are being taken to resolve it.
Make Public Announcements and Prepare for Responses
Depending on the size of your company and the nature of your business, public announcements may take the form of a press conference, social media or website announcements, emails, or any form of communication between the company and the public. Be sure to describe:
What the company has done to remedy the situation;
What it intends to do in the future; and
What steps customers should take to protect themselves.
Cyber Liability Insurance in Case of a Data Breach
A business must ensure that cyber liability insurance is in place. This coverage protects your company from losses when a data breach occurs. Factors affecting the cost of cyber liability insurance include:
Type of business
Type of information collected
Number of computers and devices
Number of transactions annually
Type of security in place
Our knowledgeable agent at Tech Insurance Solutions in Alpharetta, Georgia can work with you find the right amount of coverage at the best available rates to help you to protect your business should a breach occur.