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March 16, 2022

Why does your organization need an incident response plan?

In the last two years, cyber-attacks have risen 600%. We know, it’s alarming news. That’s why now more than ever, it is important to have a gameplan in place should an attack hit your business. 

You need an Incident Response Plan (IRP). 

Not only are IRPs useful and potentially life-saving for your business, but most cyber liability insurances actually require you to have an IRP in place before establishing coverage or to remain active. 

Here’s the good news: If your business is missing a vital policy, we know how to resolve it… and fast! Our vCIOs have created several IRP templates that your business can implement quickly and effortlessly, ensuring your team has a robust and versatile plan to fall back on. 

Building your team’s IRP 

Where to start? First, we’ll need to identify your businesses’ preferences. To do this, we’ll consider these questions: 

  • If an event occurs, do your customers know when it becomes an incident?
  • How many days do you have to report an incident?
  • How many days does the IT provider have before reporting an incident to their customer?
  • What are the details of your cyber insurance, such as amount of coverage, deductible, etc.?
  • When should you call your cyber insurance broker, lawyer, regulators or breach Counsel?

How an IRP benefits your business

Securing and Protecting Your Data

Your data is the heart and soul of your business IT. As such, it needs to be protected with the utmost security. When your data becomes compromised, hackers and bad actors can use it to hold you for exorbitant ransoms or leak it to the public. 

Establishing an IRP allows you to save precious time on steps like initiating backups, sending out security alerts and leveraging logs. 

Related Blog: Take the Cyber Security Planning Journey With Us 

Maintaining Client Trust and Reputation 

Your customers are your business’s lifeblood. They’re the reason you started a business in the first place. One of the quickest ways to lose trust among your customers — or lose them altogether – is to allow a data breach. In fact, 78% of consumers reported that they would cease business if they were directly affected by a breach. 

We know you value your customers and do not want to lose a single one. If you invest the time and effort in an IRP, your customers will be better for it. 

Related Blog: 5 Steps to Becoming Proactive With Your IT

Protecting Revenue

Not only are data breaches damaging to your reputation and harmful to your IT infrastructure, they are downright expensive. Some estimates show that cyber-crime will cost up to $10.5 trillion by the year 2025. 

Having an IRP guides you through the stages of an incident from detection and containment, all the way to the recovery stage. Companies that were able to detect and contain a breach quickly saved more than $1 million.  

Related Blog: 3 Tools You Can Implement Today To Prevent a Phishing Attack

In this day and age, an IRP is not only recommended for your business’s IT, it is necessary. Luckily, with Attentus by your side, designing a plan is simple. Schedule a call with our team to get started today.