Creating a Cyber Breach Response Plan

Moving more of your business’s operations online makes sense, given how advanced communications software is and how many people work from home. The more you rely on the Internet, though, the more you open your company up to cyberattacks. These incidents are becoming more common and costly; in 2020, studies suggested that cyberattacks led to $2.9 million in losses for the worldwide economy every minute.

Having cyber insurance is a good way to protect your business in case an attack occurs, but you can streamline your use of this coverage by creating a cyber breach response plan. Here’s what you need to know about this document.

What a Cyber Incident Response Plan Should Include

Your cyber incident response plan should include all the information that your cybersecurity team needs to address an attack. It should be brief enough that your team can take in the information quickly but thorough enough that it gives them all the details they need.

How to Create a Cyber Breach Response Plan

  1. Make a list of who is responsible for handling data breaches and other attacks, and include their contact information. Designate a team leader and the order in which you should contact each member. In addition to your IT professionals, add your cyber insurance provider and your legal team to this list. Before finalizing the list, double-check that every member is comfortable with helping.
  2. Next, outline the protocols your business follows for avoiding cyber breaches. Do you change your passwords regularly, invest in cyber protection software, or hold online safety training for your staff? If so, include these measures here.
  • Based on your security protocols, outline the most common ways that you could learn about a cybercrime. Your malware detector might send you a notification after a staff member clicks on a dangerous link, or your email provider might contact you about suspicious login attempts.
  • For each indicator (a sign that a cyberattack has already occurred) or precursor (a sign that a cyberattack may occur soon), indicate who your team should contact, such as the Federal Trade Commission or your database of employees and customers.
  • In the next section of your cyber breach response plan, explain your team should handle the fallout from the incident. How can they make your server safe again, and how can they collect enough information to prevent future ones from occurring? Finally, provide guidance on how to assess your team’s response and include methods for amending your cyber breach response plan.

Why Your Business Needs a Plan

Cyberattacks aren’t just costly; they also damage your relationships with customers and vendors. These people have trusted you with their personal information, and you have a responsibility to keep their details secure.

About Provident Protection Plus

At Provident Protection Plus, we have served the businesses and residents of New Jersey, New York, and Pennsylvania for more than 60 years. We are a wholly-owned subsidiary of SB One Bank, the region’s premier banking institution, and we are prepared to offer you personal, business, employee benefits, and risk management solutions. To learn more about our coverage options, contact our specialists today at (888) 990-0526.