How to Minimize the Damage After a Breach

Cyberattacks are seeing a meteoric rise in the United States. In fact, since 2013, data beaches include the theft of about 3.9 million records every single day. This has been a major concern for businesses of all sizes, in all industries, and getting educated on how to handle a breach after it happens is just as important as learning how to prevent breaches from happening.

Failing to plan for and quickly isolate an attack can end up costing your business major data loss and financial pain. Knowing what to do after a breach could be the difference between making a quick recovery and putting your operation in jeopardy. Here are some ways to minimize the damage following a hack.

Identify the Attack

The first step is to determine the method the attackers used to get through your security and firewall so you can understand the level of damage and mitigate further risk. Businesses are increasingly becoming major targets for phishing and ransomware attacks, given the evolving level of sophistication on the attackers’ ends. Identifying the type of breach will help you understand the source, its reach and its overall impact.

After this, it’s important to get in touch with your cyber liability insurance contact. Having regional coverage, such as Indiana cyber security insurance, can help to cover financial costs while you’re cleaning up the damage on your end. Having one less thing to worry about, especially in the financial category, will help to keep stress down.

Containing Damage

After you identify the hack and get in contact with your Indiana cyber security insurance provider, you can take the right steps to secure your network and prevent further data theft. Immediately reset every password and login credential and get rid of corrupted files. You may even have to take the entire system offline, depending on severity of the breach.

Informing Contacts

Businesses can be sure that a data breach will include the theft of client info, such as financial information or personal data. When this happens it’s important to inform all customers about a breach. Hiding a hack from your customers is unfair and can even lead to legal claims against you, which will in turn end up costing you major fines.

Reporting a Breach

Businesses who have been hacked can bring on the help of third-party cybersecurity experts to better analyze the origin of the hack as well as assessing the damage done. A forensics team can test your network to determine the type of attack and the part of your network that was affected.

One way to use this kind of outside service to help you keep future breaches away is by paying for penetration testing, which tests the different holes in your network. This will help to uncover weak spots that hackers can aim for.

About Walker & Associates Insurance

If you’re in the market for a new insurance partner, do your homework to ensure a lucrative venture and positive relationship. Contact us online at Walker & Associates Insurance or by phone at (800) 213-7126 for your insurance needs. We can explain your coverage options and how much coverage will cost.