What is CIR? Cyber incident response (CIR) is a coordinated approach to handling the aftermath of a security breach or cyberattack. The objective is to limit damage, shorten recovery times, and reduce recovery costs.
Incidents that are not adequately contained can result in a damaging data corruption or system collapse. A quick response to an incident reduces losses, mitigates exploited vulnerabilities, restores services and processes, restores confidence in business, and reduces the risks of future incidents.
As part of Incident Response Planning an organisation can outline approaches that are designed to minimize the duration and damage caused by incidents, otherwise an organisation could miss detecting an attack, neglect to put measures in place to contain it, be in violation of statutory requirements, or fail to recover from a detected breach without a response plan in place. As well as meeting the business need for creating an incident response capability, organizations should also adhere to regulatory requirements and policies governing the defense against information security threats.
Incident Response plan outlines a high-level approach to how incidents are handled within an organisation. Efficacious plans should identify and describe who is responsible for testing the plan on a regular basis and implementing it when necessary. In addition to describing the recovery methods, tools, technologies, and physical resources that must be in place, the plan should include the tools that will be used. Above all your CIR must outline who to call after a Cyber Incident i.e. your Cyber Insurance Claim Hotline.
CIR with Cyber Insurance
Cyber-attack are common and your business is constantly exposed to such incidents. As such, cyber insurance serves as a security measure against potential threats and cyber-attacks. Cyber Incident Response triggers as soon you notify your insurer of a claim. The insurer puts at your disposal an emergency response team who respond to the cyber incident and mitigate your losses.
Cyber insurance includes wording for risk scenarios including cybercrimes, social media hijacking, malware attack, IT theft loss, phishing, email spoofing, defamation, cyber extortion, and supply chain data breaches in one comprehensive and affordable insurance plan.
Disclaimer: “The information provided is general advice only and does not take account of your personal circumstances or needs, please seek advice from your broker or risk advisor before taking any action on the contents of this article”