All organisations face the reality that data breaches have become inevitable. And the stakes are high. You hold personal data on trust for your customers. If they don't think your business can be trusted, the very future of your company may be at risk. A data breach is not a learning opportunity - you have too much to lose to risk mishandling it.
The case for focusing on response
Many companies focus exclusively on data breach protection - and fail to pay attention to what happens when the walls are breached. Firewalls, encryption and other defenses get the attention. The war is fought on IT turf. But the truly dangerous time is after you've been breached.
After a breach you're fighting to protect your reputation. It's when your customers begin to leave.
The way you manage a data breach to maintain customer trust is critical. That doesn't mean you shouldn't protect your system; it does mean you need plans for your response. And the good news is that there's a great deal you can do. Cyber-attacks are beyond your control; breach response is something you can plan for.
5 steps to help protect your data
1. Train employees
2. Develop an incident response plan
3. Categorise risks by threat level
4. Review supplier contracts
5. Encrypt your data
Are you prepared?
of breaches managed by Beazley in 2015 involved third party vendors
of users open e-mails and click on phishing links within the first hour (www.verizonenterprise.com)
of breaches managed by Beazley in 2015 were due to unintended disclosure, such as a misdirected email