How To Minimize Data Risks: Key Actions For Small Businesses After a Cyber Attack
Despite how careful a small business is, it will never be able to fully avoid risks when it comes to safekeeping data. Losing data via hacking or employee error is more common than you might think, this not only poses risks but also incurs costs.f
Small businesses don’t think about having a cyber incident, though storing data digitally has increased in the last few years. Because of this, cybercriminals are acting with increased caution and speed. 85% of cyber attacks are on small businesses, as it is likely for them not to be protected. At PJO Insurance Brokerage, we can help you meet your business’s needs with our insurance services, and here we provide you with a list of the steps you should follow in case you have a cyber attack:
1. Create a Comprehensive Cyber Attack Recovery Plan
Most small businesses (75% approximately) do not have a recovery plan in case they get cyber attacked. When storing and sending data, you should think and include a step-by-step plan of action to be followed in case an accident takes place.
2. Contact Your Cyber Liability Insurance Provider Immediately
Most small businesses do not have Arizona cyber liability insurance, but some of the consequences caused by a breach will be solved and treated by it.
Coverage may include investigating the breach, informing customers, defense costs if you face legal action by authorities, and costs of restoring data, systems, and your website, among others.
Knowing you have insurance gives you time to focus on getting your business back on track as quickly as possible.
3. Investigate The Cause Of The Cyber Attack
When confronting a cyber attack, time is crucial to investigate how the incident took place. Some of the most common reasons are device loss or theft, weak passwords, outdated IT systems, human errors, malware, other malicious software, viruses, or the use of unsecured networks.
It is not always easy to identify what has gone wrong, so, in case you don’t have an in-house IT security expert, you should call someone as soon as possible.
4. Hire An IT Security Firm To Assess & Contain the Attack
Even if you think you have found the cause, there may be other aspects or vulnerabilities you are not aware of. By contacting an IT firm, they will confirm how the attack has happened and why and also help you take measures to prevent further crises. They can also help you get systems up and running again.
5. Recover Lost Data & Restore Systems Post-Cyber Attack
After getting back to normal, you should recover the assets lost by the incident. Besides getting systems back online, you should restore any data that has been lost. Be careful to always keep a backup to limit the impact of data loss. This step might also involve purging compromised data from network devices.
6. Evaluate Business Continuity After a Cyber Attack
Be aware that, even if the accident has been identified and investigated, and systems are back on track, you may not be able to start working right away. Depending on the damage caused by the breach, systems or websites may need to remain offline for some time, or may not be available for a while.
In case the breach is caused by criminal activity like theft of a device or malicious action by an employee, you will need to contact the police.
7. Report The Cyber Attack To Law Enforcement
Cyber attacks are crimes and should be reported to local law enforcement. Many small businesses are not aware of this, but it is a crucial part of the recovery process. It is understandable for you to be worried about the repercussions this may have, but tracking down those responsible for the attack can prevent future crises.
8. Get Help From a PR Or Crisis Management Communication Firm
Transparent and well-crafted answers or responses show a business can tackle the incident, can take action to a resolution, and that anyone who may have been affected can get in touch.
9. Communicate With Customers & Regulators About The Cyber Attack
You need to inform your customers and regulators about what is happening, and for that, it is crucial you have control of the narrative. A good option is to offer monitoring for free for those affected if financial information is compromised, and for your staff to provide support to concerned customers.
10. Review & Update Your Cybersecurity Plan After The Incident
Last but not least, analyze how effective the risk plan was, and make adjustments in case it is necessary. Identifying what could have been done differently to avoid the incident and rearranging things in your plan is crucial to reduce the chance of future cyber attacks.
We also suggest you update policies related to data security, which may include staff training, updating systems and software, and conducting stress tests on IT security.
Contact us at PJO Insurance Brokerage, our Insurance Brokerage in Arizona, to provide you with the best plan for your business. We have almost 50 years of experience working with a wide range of businesses.
PJO INSURANCE BROKERAGE
Email: patrick@pjobrokerage.com
Website: www.pjobrokerage.com
Arizona Location
4103 East Prickly Pear Trail
Phoenix, Arizona 85050
Office: 480-680-9951
California Location
107 Via Estrada, Unit A
Laguna Woods, California 92637
Office: 949-264-0889
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Las Vegas, Nevada 89183
Office: 702-747-5403
