As cyber risks develop and become more threatening in scope, they come at an increasing cost to both the public and private sectors. In the last two years, several significant cyber security incidents have occurred. In 2020, the Solar Winds hack broke several federal authorities. JBS, the world’s largest meat processing company, was hit by a cyberattack that shut down its facilities if it did not pay a ransom. What can you learn from these attacks and how to adapt cybersecurity strategies for your business?
Even with good practices and policies in place, it may not be possible to prevent every cyberattack. This is where resilience comes into the picture. Resilience is not about stopping every cyberattack. Instead, it’s how you position your business to successfully navigate a cyberattack. The right cyber-resilience strategy enables companies to manage and recover from cyber attacks quickly, smoothly and securely, minimizing business losses while dealing with a worst-case scenario.
The Department of Homeland Security’s Cybersecurity and Infrastructure Agency (CISA) has a comprehensive free, public cyber security archive that offers reliable advice, tips and tools for managing cyber risks.
After reading the first two parts of our Cybersecurity series, Part 1: Cyber Security 101 and Part 2: Protecting Your Business from Cyber Threats, we hope you feel inspired to continue learning more about how to prepare, plan ahead, and protect your business. We have compiled a list of reliable resources, tools and articles to support you as you take the next step to better secure your business from cyber threats.
CISA’s YouTube channel also provides a wealth of useful videos on a variety of cybersecurity topics.
Complete elimination of cyber risk is not a realistic option for any company. By adopting a resilience strategy, companies prepare for a cyber attack and position themselves to recover as quickly and efficiently as possible should the worst happen. Not all companies will have the resources to implement all of these steps, but implementing as many as possible is a good first step to protecting your business.
Are you interested in learning more about cyber coverage for your business?
Central’s Cyber Suite Coverage is an excellent alternative for companies that maintain data about customers or employees. It covers everything from data compromise spending to cyberbullying, data compromising responsibilities to identity recovery. Read more about Cyber Suite here.
Alex Plotkin is a Commercial Staff Underwriter based at Central’s Southwest Regional Office.
Associated Press ‘Meatpacker JBS expects’ large majority ‘of its factories to be open on Wednesday, following 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 insurance and coverage provided may differ from the examples provided. Please read your entire policy to determine your actual coverage.