In some jurisdictions, adopting a written information security plan is a legal requirement.
Cyber liability claims can be extremely costly and cause harm to a company’s public image. Here are some important ways that you can proactively prevent cybersecurity lawsuits.
Strengthen Processes for Updating Software and Systems
Updates are vital to any programs’ functionality, and businesses need to be able to make changes to optimize speed and performance. The natural development of their workflows and systemic requirements will also periodically necessitate alterations. Even if a change is relatively small, the way that a company goes about implementing it needs to emphasize security. The process of alterations can leave systems vulnerable while they are underway. The individuals who are responsible for coordinating updates may fail to identify and resolve deficiencies which could put systems at risk either temporarily or permanently.
Using DevOps automation to strengthen security and performance in coordinating updates can help to mitigate this type of risk. By reducing the number of extraneous communications and manual data interpretation, businesses can make updates with enhanced ease and safety.
Train Staff Thoroughly
Making cybersecurity a key part of your company’s operating priorities needs to involve the efforts of everyone on your team. Ideally, your goal as a leader should be to create a company culture in which team members have an acute awareness of the significance of cyber threats. Once you lay the foundation for this vital element of your company culture, each employee’s efforts to actualize this value will elevate and reinforce it.
Training is an essential part of attaining this type of conscientious shift. Whether team members have advanced technical skills and are already fully cognizant of security risks or they have limited familiarity with the security concerns that affect your operations, they all need comprehensive training on cybersecurity. In particular, employees need to receive structured guidance about what they must do in their individual capacities while performing their job tasks.
Establish a Written Policy on Data Security
To ensure that everyone is on the same page about policies and procedures, companies should make a thorough playbook. It has to spell out important security procedures and identify what types of data fall under the scope of a policy. In addition, a comprehensive data security policy must stipulate who is responsible for administering policies. This will probably be the same person who employees should contact about cybersecurity concerns. If policies do not specify who is responsible for enforcement of policies, it would not follow that the designated employee would be accountable for taking action in response to situations or events that he or she may not be aware of.
In some jurisdictions, adopting a written information security plan is a legal requirement. There is statutory law mandating that companies which store or transmit customers’ personal information implement policies aimed at keeping that protected data safe. So long as a business practices full compliance with its written plan, it may be able to avoid serious financial liability for any economic harm resulting from a breach.
Carry Cyber Liability Insurance
Even if a company utilizes the best antivirus programs and security protocols, it will not become magically immune to the myriad of cyber threats that it must continually face. Any company’s risk management plan is insurance coverage that is wholly dedicated to addressing data breaches. This indispensable resource can pay for remedial measures, monetary judgments, or sending notifications to customers when necessary.
Ultimately, it is crucial that businesses’ leadership take steps to prevent data breaches and equipping your company with resources to manage the aftermath of a breach. As the potential fallout from a breach looms over your activities, effective initiatives to safeguard your business from liability can give you considerable peace of mind.