A data breach may lead to what? What can happen to your company if this occurs to you in the future? Will you be equipped enough or do you need more protection? Find out below.
A Data Breach May Lead To What?
A data breach can cause a lot of ills to your business. You may be asking yourself what? What happens after a data breach? And, how will this affect your business? We can help you with that!
The biggest thing you need to consider after a data breach is the damages it will cause to your business and who will pay for it. Do you have insurance or any kind of indemnity that will cover your company from these types of incidents? If not, do you need them? How can you protect your company and how quickly can you do so after a data breach occurs.
Are your businesses protected with insurance? You should know that different types of insurance will cover your business from a data breach. The first type is called general liability insurance.
This type of insurance covers not only actual damages but also those that may be suffered by other people as well as non-contractual obligations such as those arising from errors and omissions. Aside from the general liability insurance, there are other forms of insurance available for businesses like:
- Property insurance. Covers against property damage and loss arising from fire, wind, theft, and other perils
- Workers’ compensation. Gives benefits to workers who suffer injuries while performing their duties
- Commercial auto insurance. Covers losses resulting from damage due to collision or upset of motor vehicles owned by the insured
You should know that there are different types of general liability insurance available in the market today. The most common form is the standard form which provides coverage up to 50 million dollars.
How to Add Protection
To be safer from a data breach, you need to:
1. Conduct a risk assessment
2. Improve your security measures
3. Train your employees on how to handle sensitive information
4. Create a data breach response plan
5. Look into the different insurance options available for you and your company
6. Stay updated with the latest technologies and security practices
7. Continue to educate yourself and your employees on security and privacy issues
8. Employ a professional to manage your information technology systems and facilities
9. Educate the employees about phishing attacks and how they can protect themselves from these attacks and what to do if they become victims of it
10. Encrypt the data sent over wireless networks
11. Look for solutions that can help you recover quickly from a data breach
12. Improve your network monitoring because an intrusion prevention system (IPS) is not enough. You also need to look out for anomalies in traffic patterns. This might be an indication that someone is trying to hack into your network or system. Then, this will alert you even before an intrusion takes place or at least within minutes after it happens.
So, if you follow all these, you can be safe from a data breach.
