data breach insurance

Common Best Practices for Handling a Data Breach

Hearing about the plethora of private data hacks these days can be worrisome when you’re a business owner. However, these situations demonstrate that there’s no better time than now to implement your own incident response plan in preparation for digital warfare. Here are some common best practices for handling a dangerous data hack, including setting up your company with substantial data breach insurance.

Conduct a risk assessment test of your business. Like any other policy put into effect to safeguard your company, it’s best to conduct a risk assessment test using an industry standard cyber framework. This gives you the opportunity to spot any vulnerabilities and improve them before malicious attacks occur.

Create a separate team to govern over cybersecurity threats. If it’s within your budget to do so, putting together a solid team of cybersecurity experts to manage the day-to-day threats can be highly beneficial. Other than having data breach insurance, this is the best maneuver for preparation.

Speaking of insurance, buy cyber risk coverage for optimal reassurance. Nothing can be more preventative than having a strong cyber insurance policy in place. This protects the company not only through financial means as a first-party response but also in the face of potential lawsuits from third-party vendors.

Staying vigilant about cybersecurity is essential. Follow these best practices to protect your business from digital attacks, like purchasing data breach insurance that gives you all the best coverage.