Although most businesses have insurance, in the event of a cyber-attack, the cost of that insurance is based on how well the company detects, recognizes, and responds to these attacks and how quickly it can recover.
Businesses spend a lot of money on detecting threats, preventing attacks in the first place, and responding to active attacks in their efforts to stay ahead of cybercriminals. However, they are not investing as much in attack recovery. They may have complied with all applicable regulations, but none of that will help them recover from a significant cyber-attack on their company.
Until recently, this investment in cybersecurity recovery was used for disaster recovery tests, a yearly tabletop exercise, and recovery plan assessment. Even though it should be done, it is insufficient on its own.
Risks and insurance premiums can be lower for companies that can prove their compliance and resiliency, demonstrating that they will be able to recover swiftly in the case of an attack. Businesses can avoid costly long-term damage with the help of a competent cybersecurity recovery program.
Of course, cybersecurity insurance is essential, but it only partially compensates for damages. Future losses won’t be covered. The truth is that it’s incredibly challenging for most businesses to recover properly from an attack.
Those who invest more in business continuity and disaster recovery recover from attacks quicker than their less prepared competitors.
Here are four essential elements of a successful cybersecurity recovery program:
Proactive Measures
A successful cybersecurity recovery strategy is one that never needs to be used. In the phase before a disaster or pre-disruption, recovery begins. Before the effects of the attack are felt, the organization’s Security Operations Center (SOC) should be able to swiftly identify any intrusion and start the disaster recovery process involving the major incident management team.
Also Read: Taking a Human-Centric Approach to Cybersecurity
Accountability
People must be aware of their responsibilities and the appropriate course of action in the event of a cybersecurity crisis. This entails providing them with immediate access to all the information they require in order to make quick decisions and efficiently communicate with the rest of the company. When doing annual disaster recovery tests, these areas are often neglected since there aren’t enough communication or time constraints, and participants are aware that the exercise is being done for auditing purposes.
Although these are critical areas to do right, few organizations actually engage in assessing and improving how employees perform their duties and communicate their concerns in these scenarios.
Recovery Process
When it comes to the recovery process, businesses with the right IT architecture, point objectives, recovery time, and security policies are at a significant advantage. Systems and procedures, of course, only function properly if they are applied effectively and meet the demands of the company. In terms of ransomware costs and data loss, a well-defined, fully deployed, and managed architecture with secure backup can save millions of dollars.
Also Read: Strengthening Cybersecurity Posture after Successful Cloud Migration
Implementing Changes
Organizations must evaluate the lessons they have learned from every cybersecurity event. This process must be carried out in an open and transparent way.
How did the company fare? Did everyone have all they required to carry out their tasks? Did they exchange information clearly? How well-performing were the current systems and procedures? To determine what works and what needs to change, businesses must conduct a thorough assessment.
The organization can focus on updating or redesigning processes and architecture, retraining the workforce, and other related tasks after these elements are understood, and weak points are identified.
The process of recovery begins before a cyber-attack even takes place. The process is not complete when the data is safeguarded but rather when the organization can state that it has taken all appropriate measures to learn from the incident and prevent it from happening again.
For more such updates follow us on Google News ITsecuritywire News. Please subscribe to our Newsletter for more updates.
