As your clients are aware, cyber-attacks are one of the leading causes of loss in today’s digital business landscape. For any business, regardless of the industry or size, the threat is real. As cyber attackers are targeting both large corporations and small businesses, no one is safe. Therefore, in addition to protecting your client’s operation with a Cyber Liability Insurance program, share the following advice with them for securing their data from breaches and implementing an efficient response plan.
According to Harvard Business Review, assign an executive to take on responsibility for the plan and for integrating incident-response efforts across business units and geographies. Next, develop a taxonomy of risks, threats, and potential failure modes. Refresh them continually on the basis of changes in the threat environment.
Indicate how threats should be handled in an easily accessible document. Create a response plan for likely scenarios and educate the staff on how to handle them. Time is of the essence in these attacks, so urgency is key here.
Isolating networks that have been compromised is another key element for recovering from these breaches. Ensure your clients have developed a plan to secure components that have been breached to prevent further damage and preventing the rest of the network from being hacked.
Going hand in hand with dedicating an executive to oversee the response process, ensure each person in the office knows their role. From notifying clients to securing the network and coordinating with attorneys, there is so much that goes into these response plans- ensure everyone knows what to do to make the process run smoothly.
About Domenick & Associates
At Domenick & Associates, we specialize in protecting small to midsized firms from the cyber threats. Our coverage is custom tailored with your clients in mind to guarantee them the best protection. For more information about our products, contact us today at (855) 745-3636.