Did you know that 60% of businesses that suffer a cyber attack go out of business within six months? The vast majority of damage is due to the inability of the company to respond because they have not developed a cyber prevention and response strategy.

If your e-commerce system, website, email, or customer data was suddenly inaccessible because of an attack, would you be able to get back up and running within minutes, hours, days, or at all? That depends on your business’s level of cyber resilience. The most common definition of cyber resilience is the ability of an enterprise to limit the impact of security incidents.

Cyber resilience includes two primary components:

  • Step 1 – establish prevention measures

  • Step 2 – develop a plan to take appropriate action if and when an attack occurs

Unfortunately, most businesses fail at the critical second step.

Cyber resiliency = lower insurance costs

Practices such as password management, risk assessments, employee training, and incident response plans can prove your organization’s resiliency so you can negotiate better insurance terms and conditions. These may include:

  • Reduced premiums

  • Broader coverage

  • Higher amounts of coverage

In the case of cybersecurity, offense wins and the defense loses. Interested in learning more about cyber resilience and how to save on insurance? Send us a note today Sales@datasafellc.com

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