In today’s digital landscape, it’s not a question of if a cyber incident will occur but when. A security incident can take many forms, all of which indicate that an organization’s sensitive data, critical systems, or access controls have potentially been compromised. Such incidents might result from a stolen password, a database breach exposing confidential information, or even corporate espionage designed to capture trade secrets or competitive insights. Surprisingly, human error remains the root cause of the majority of these incidents, contributing to a staggering 95% of cybersecurity breaches. This highlights the need for strong cybersecurity practices, employee awareness, and proactive risk management to protect organizations from both external threats and mistakes made within.
Review and update your incident response plan
An organization’s incident response plan is essential for navigating cybersecurity threats. It provides a clear, step-by-step guide for responding to incidents, but its value depends on its clarity, timeliness, and adaptability. Outdated plans can lead to confusion, extended downtime, regulatory fines, and reputational harm. As cyber threats evolve and new regulations emerge, organizations should routinely review and update their incident response plans to stay aligned with both industry standards and internal changes in processes and technology.
Conduct tabletop exercises
To test the effectiveness of an updated incident response plan, organizations should run tabletop exercises. These are simulated, scenario-based exercises where key stakeholders from different departments practice how they would respond to a cybersecurity incident in real time. Typically facilitated by external legal counsel, these exercises help identify weaknesses, improve coordination, and ensure any needed updates to the plan are made before a real crisis occurs.
Implement comprehensive security awareness training
Human error is a top contributor to cyber incidents, as employees are often targeted through phishing and social engineering attacks. Providing effective cybersecurity training for all employees—executives included—empowers the team to recognize and respond to threats, lowering the organization’s overall risk. Implementing mandatory, tailored training programs ensures the content resonates with employees, making it easier for them to remember and apply what they learn.
Identify and engage key third-party partners for incident response
When a cyber incident happens, having established relationships with third-party experts can significantly improve response speed and effectiveness. Legal counsel, forensic investigators, and crisis communication firms bring critical expertise to handle the technical, legal, and reputational challenges of a cyber incident. Establishing these partnerships ahead of time reduces red tape, aligns external support with the organization’s response strategy, and ensures attorney-client privilege is preserved, providing an additional layer of protection.
Prioritize proactive cyber defense measures and controls
Proactive defenses, such as multi-factor authentication (MFA), endpoint detection and response (EDR), and security information and event management (SIEM) systems, are essential for detecting and responding to threats. Although IT teams handle technical implementations, executives play a critical role in prioritizing these initiatives, aligning them with organizational goals, and championing a resilient security stance that permeates the company culture.
Establish regular cybersecurity reporting
Routine, collaborative reporting between IT, management, and executives ensures alignment of cybersecurity goals with organizational priorities. Executives should set regular check-ins where IT and security teams present updates on threat detection, response times, vulnerabilities, and policy compliance. This approach promotes transparency, fosters teamwork, and provides a forum for discussing emerging threats and reviewing budget allocations for necessary tools.
Optimize cyber insurance coverage
Cyber insurance is a vital part of risk management, helping organizations mitigate the financial impact of cyber incidents like ransomware attacks, regulatory breaches, and legal actions. Organizations should ensure their policies align with their specific risk profile, offering coverage for direct and indirect costs, including legal fees, business disruption, and reputational damage. Proper coverage provides financial resilience and reduces the potential fallout from cyber incidents.
Strengthen your third-party risk management program
Third-party vendors can be prime targets for cyber threats. A single compromised vendor may expose the data and systems of every client they serve. To mitigate these risks, organizations should enforce strong security standards and conduct ongoing risk assessments with all third-party partners. This includes vetting security practices during onboarding, establishing contractual security requirements, and maintaining regular reviews to ensure compliance and detect any shifts in the vendor’s security posture.
Enhance your data backup and recovery strategy
The rise of ransomware-as-a-service (RaaS) has intensified the need for a solid data backup and recovery strategy to mitigate data loss, operational downtime, and disruption costs. Effective backup practices involve securing multiple backup locations, frequent backup schedules, data encryption, and regular testing of data recovery protocols. A well-structured recovery plan allows organizations to restore critical systems promptly, minimizing damage and supporting business continuity.
Conduct regular risk assessments and audits
Regular risk assessments and audits, including vulnerability scans, penetration testing, and internal evaluations, help organizations proactively uncover potential vulnerabilities. These audits allow executives to make informed decisions on risk mitigation and resource allocation, ensuring a robust security posture.
By implementing these best practices, organizations can better prepare for cybersecurity incidents, reduce potential damage, and ensure a swift recovery. There has never been a more crucial time for executives and leaders to focus on cybersecurity priorities. These best practices provide a structured approach for managing cyber risks, enabling organizations to build resilience and safeguard against threats.
When data is compromised in a cybersecurity incident, UnitedLex offers comprehensive expertise in cybersecurity response, providing rapid insight into the potential severity and quickly defining the extent of exposure and the obligations to the company, customers, employees, and third parties.
