Moments after a suspected data breach are some of the most intense for businesses and other affected parties. It is easy to make mistakes during this period, and they may add to an already costly event that may negatively affect the company’s reputation.

Confirm That It Was A Breach

When you suspect you’ve been hacked, it is natural to think of the worst-case scenarios. However, you need to confirm that you were indeed hacked, and the data in your system has been compromised.

Sometimes it is not a breach but an incident where a cyber attacker attempted to get into your systems but failed to get to the data. So, before leaking any information to your clients or the media, you first need to be sure that there was a breach.

If you have an IT team, they may be better placed to analyze the issue and determine if there was a breach, or if the protective barriers blocked the hackers from accessing the system.

If there was no data breach, it is your lucky day. However, if you’re not sure but suspect an unauthorized person accessed your system, you should report it.

Call Your Insurer

The first thing you should do is place a call to the insurer responsible for your cyber insurance. You need experts on the ground to confirm that you have had a data breach and the extent of the damage.

Insurance companies offering comprehensive cyber insurance policies understand that time is of the essence when hackers have penetrated the systems. They appreciate that if they act quickly, they may be able to minimize the damage and secure your systems.

Additionally, your insurer has access to experts who will be at hand to guide you as you maneuver through this sticky situation.

Who Needs To Know?

You now have to decide who needs to be informed of the attack. Do you need to inform all the staff, or the board? Every business should have a protocol in place so that employees know the steps to follow if they discover a data breach.

The decision on who needs to know is mostly dependent on who has discovered the breach and their position in the company.

Discuss Mitigation Plans

You can never be prepared for a data breach. Even businesses that have all the systems in place get taken aback when their systems are hacked. There is no format to follow, but if you have cyber insurance, the experts will guide you on what to do.

For example, if customer data has been compromised, the affected parties need to be informed. You will need to set up a call center and have staff that can handle distressed clients to handle the calls.

If you’re dealing with ransomware, the insurance company has experts who can handle the negotiation process.

You will need to plan how to deal with the media. Data breaches have become increasingly common, and because of how fast news travels, it can cost the company its reputation if poorly handled.

You’ll need to decide if you want to get ahead of the story by breaking the news first, or wait until everything else is handled to handle the publicity aspect. Fortunately, cyber insurance covers PR costs, so you can choose to hire a PR firm, or request the insurer to recommend one.

There is no water-tight format to use when there has been a breach in your company’s system. As long as you are doing something to fix all the problems that arise from it, you’re doing great. You may make some mistakes, especially if you do it without the help of professionals.

This is why cyber security is critical. It takes the load off your back and takes over to ensure your company survives and overcomes a cyber attack.