Companies increasingly are being affected by cyberattacks, and small and midsize companies tend to be more vulnerable to such attacks, according to Inc.
Businesses are becoming more aware of efforts that can help prevent cyberattacks, such as conducting a cyber risk assessment to evaluate potential risks and training employees to identify attempts to hack into your company’s systems.
But what should your company do when your defenses are breached and your company is hacked? Inc. shares the following three key tips.
- Trust your gut. If you have any suspicion an intruder has breached your network, immediately take all communications with your employees to a separate, secure network that is not being monitored. Frank Shultz, chairman and CEO of business resilience solutions firm Infinite Blue, has seen hacks in which infiltrators impersonate an employee in the company’s Slack channel and are able to watch as the company formulates a plan to counter the hack. Shultz recommends adopting a code word to let employees know there has been a breach and to switch to a secure messaging service.
- Get insurance. Shultz says cybersecurity insurance can be crucial—for a company of any size—if you have no other option but to pay out a ransom to a hacker. He recommends looking for policies that include access to teams that help negotiate with the hackers and help craft communications about the hack to employees and customers.
- Know your IP. The best thing your company can do is be prepared and ready to quickly take action. Determine which of your assets would be the most painful to lose and invest heavily to keep those assets secure.
NRCA has partnered with Acrisure, Grand Rapids, Mich., to offer NRCA’s Cyber Liability Insurance Program. Learn more.
