Cyber Resilience: The Best Plan for When the Worst Happens

As cyber risks evolve and become more threatening in scope, they come at an increasing cost to both the public and private sectors. The past two years have seen several significant cybersecurity incidents. In 2020, the Solar Winds hack breached several federal government agencies. JBS, the world’s largest meat processing company, suffered a cyberattack that disabled its facilities unless they paid a ransom. What can you learn from these attacks and how to adapt cybersecurity strategies for your business?

Even with great practices and policies in place, it may not be possible to prevent every cyber attack. This is where resilience comes into play. Resilience isn’t about stopping every cyber attack. Instead, it’s how you position your company to successfully navigate the aftermath of a cyber attack. The right cyber resilience strategy empowers businesses to manage and recover from cyber attacks quickly, smoothly and confidently, minimizing business loss while managing a worst-case scenario.

The Department of Homeland Security’s Cybersecurity and Infrastructure Agency (CISA) has an extensive free, public cybersecurity archive that offers trusted advice, tips and tools for managing cyber risks.

After reading the first two parts of our Cybersecurity series, Part 1: Cybersecurity 101 and Part 2: Protecting Your Business from Cyber Threats, we hope you’re feeling inspired to keep learning more about how you can prepare, plan ahead and protect your company. We’ve put together a list of trusted resources, tools and articles to support you as you take next steps to better secure your business from cyber threats.

CISA’s YouTube channel also provides a wealth of helpful videos on a range of cybersecurity topics.

Full elimination of cyber risk is not a realistic option for any enterprise. By embracing a resilience strategy, businesses prepare for a cyber attack and position themselves to recover as quickly and effectively as possible in the event the worst happens. Not every business will have the resources to implement all of these steps, but implementing as many as possible is a good first step in protecting your business.

Interested in learning about cyber coverage for your business?
Central’s Cyber Suite Coverage is a great option for businesses that maintain data on clients or employees. It covers everything from data compromise response expenses to cyber extortion, data compromise liability to identity recovery. Learn more about Cyber Suite here.

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Alex Plotkin is a Commercial Staff Underwriter based in Central’s Southwest Regional Office.

Source:
Associated Press ‘Meatpacker JBS expects ‘vast majority’ of its plants to be open Wednesday, after cyberattack’ https://www.marketwatch.com/story/meatpacker-jbs-hit-by-cyberattack-affecting-north-american-australian-operations-11622558599 June 1, 2021

The information above is of a general nature and your policy and coverages provided may differ from the examples provided. Please read your policy in its entirety to determine your actual coverage available.