How to Overcome a Data Breach In Your Business

The internet and other technological innovations have given entrepreneurs more opportunity than ever to succeed, but it also has its downsides. One of the most common problems with businesses that store their information electronically is they're more vulnerable to becoming victims of a data breach. If your company has encountered data security issues, here are four ways to overcome it.
Cyber Insurance

Make Your PR a Priority

Carefully respond to the public, your customers, and employees. It's best to wait until you've gathered all of the necessary information than it is to rush out a statement. People can want to know whether they're affected, how widespread the breach is, and they'll also want to hear what your business plans to do to prevent similar occurrences in the future. Until you've figured out these details, it's best to remain as calm as possible, not panic, and ensure that no misinformation is given out.

Keep Impacted Customers Informed

Keep your clients who are affected by the breach updated throughout the process and investigation. Keeping them in the loop goes a long way towards rebuilding their trust in your company, and it may also show good faith on the part of your business. You don't have to give each and every detail of what went on, but do let them know about new policies you're putting in place to increase data security -- the more confidence that people have, the more likely it is they'll continue to do business with you.

Purchase Data Breach Business Insurance

If you have a business insurance policy that specifically protects against cybercrime, you'll end up losing less money after all is said and done. However, if you don't have insurance against data breaches you should get it as soon as possible. It won't cover your previous losses, but you'll have a safeguard if you have data security troubles again. Unfortunately, it's not uncommon for companies to be the victim of cyber threats more than once.

Secure Your Proprietary Information

Require your employees to change their passwords more often, and start using better encryption with your systems. These are effective ways to protect your business immediately after a breach and well into the future, and it's worth the investment.

Though data security is a lingering concern, for most businesses the conveniences and advantages of integrating technology into their operations is worth the risk of a breach. It's definitely possible for a company to make it through a data breach, but taking preventative measures is always the smartest choice.

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