Responding to a Data Breach Takes a Team
Small and mid-sized businesses may be the most vulnerable, and least prepared, to handle a data breach. Without employees trained to handle the technology, legal and public relations questions that a breach can bring, the effects on the business can be catastrophic.
An estimated 4,000 ransomware attacks a day target small to mid-sized businesses.1 “Not every event is the same, but almost all events require a team of people working together,” said Tim Francis, Travelers Enterprise Cyber Lead. “One of the worst things we see is when companies try to go it alone.”
Before a Breach: Protecting Data and Training Employees
Pre-breach services, from employee training to cyber assessments, can help companies protect their systems and their data and make them better able to withstand an attempted attack. Backing up critical data and training employees to recognize and report a breach sooner can be critical steps in containing the damage.
As part of Travelers offering of pre- to post-breach solutions, Travelers has partnered with various cybersecurity companies to offer Travelers cyber customers access to training videos, a cyber resilience readiness assessment and a consultation with a cybersecurity professional to help identify areas of weakness or vulnerability.
Cyber Risks and Your Business
Small and medium-sized businesses may be at the greatest risk of a cyber breach, and the least prepared to handle it. Learn how Travelers can help.
Managing a Breach: Knowing Where to Start
Travelers has created a network of cyber specialists to help manage the fallout of an attack. A data breach coach is an attorney specializing in cyber security events who can guide businesses in taking the right steps to recover in the critical hours and days following an attack. Acting as a first responder, the breach coach helps triage response efforts, including isolating affected data, notifying customers and retaining forensics professionals.
After a breach, a company’s data is a virtual crime scene. Handling it properly requires a specialized skill set. The breach coach can assemble a digital forensics team to help a company understand the scope of a breach, piece together and preserve evidence, and help prevent future breaches.
Data breaches can also require a specialized crisis communications plan, especially if customers’ Personally Identifiable Information (PII) or Protected Health Information (PHI) is involved in the breach. The breach coach might recommend that the company retain a crisis public relations professional to help protect the company’s brand and reputation, which may be covered by cyber insurance.
After a Breach: The Road to Recovery
Even a seemingly small breach can disrupt a business and render its systems and computers inoperable. “We know that when it comes to businesses that rely on technology, minutes matter,” Francis said. “Having the right team can help your business recover sooner.”
If a breach does take place, small to mid-sized businesses need not only an insurance policy that will reimburse them for their expenses, but also access to a network of experienced professionals. “At Travelers, our claims professionals, coupled with our partners that are experts in cybersecurity solutions, can bring the right solution to your particular event.”
The right coverage your business or organization needs depends on your level of risk. Find the cyber liability coverage that’s right for your organization.
