In a predominantly digital age, the mentality of “if” a cyber-attack occurs has slowly but surely evolved into “when” it does. Therefore, business owners of all types are encouraged to develop an effective plan to recover in the event of a breach. Even more importantly, however, is carrying the right Delaware Cyber Liability Insurance to adequately defend your business in the event of a loss.
An incident can include a number of events, such as suspicious network activity; theft or loss of physical assets like laptops, phones, or thumb drives; malware; credit card theft; phishing attempts; ransomware; or website defacement, says Inside Counsel. As more threats evolve and your business develops, the risks you face should be reevaluated to ensure the proper controls are in place.
Elect someone to be in charge.
One person should be the designated point person to oversee the plan, communicate it to all of the participants in the recovery, and provide advice and direction as needed. Preferably, this person will be a lawyer in order to navigate the legal implications regarding navigating a breach.
Create an effective team.
Representatives from various departments of your business should participate in the response plan. For example, HR, Public Relations, executive management, and IT should all be informed on the procedure and have the knowledge, skills, and capital to recover from such an attack.
Understand what’s at risk.
In-house lawyers are rarely able to oversee everything on their own; they need to work with members of the IT department to ensure this portion of the response plan can be operationalized. The first step is getting an understanding of what kind of data the company has and which of that data carries the most risk, says the article. Work as a team to identify which data is most valuable and work to protect it. This includes, but is not limited to, credit card information, customer data, trade secrets, financial information etc.
Have an investigation plan.
Identify who will monitor the breach and investigate to determine what exactly was compromised. If a third-party is contracted to protect your network, ask them how they handle such scenarios and what they are doing to protect your information and prevent more in the future.
At IFS Insurance, we specialize in protecting business likes yours throughout Delaware, New Jersey, Pennsylvania, and Maryland. Our quality solutions and commitment to excellence has allowed us to serve these states for over 50 years. For more information about our products, we invite you to contact us today at (855) 259-2428.