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1. Develop Strategies to Prevent a Data Breach: Your data breach prevention strategies may include encrypting all devices used by your employees, such 
as laptops, tablets and smartphones. Encrypting these devices will prevent unauthorized access if a device is lost or stolen. Unencrypted devices are often 
not covered by a cyber liability policy, so make sure you know whether you need to encrypt the devices or not. 

2. Know Your Disclosure Responsibilities: if you experience a data breach, you may be legally required to notify certain people. If your company is publicly
traded, guidelines issued by the Securities and Exchange Commission (SEC) make it clear that you must report cyber security incidents to stockholders- even 
when you company is only at risk of an incident. The SEC advises timely, comprehensive and accurate disclosure about risks and events that would be 
important for an investor or client to know. 

3. Your Crisis Management and Response Plan: Preparedness is key when developing your cyber risk management program. First determine when and how 
the breach occurred, what information was obtained and how many individuals were affected. While managing a crisis, let your clients know what actions you 
are taking, but also be sure you'r not disclosing too much information. Your in-house lawyers, risk managers and IT department should work together to create 
and refine your plan. 

4. Protect Your Data: Your cyber risk management program should include cyber liability insurance coverage that fits the needs of  your business. Cyber 
Liability insurance is specifically designed to address the risk that come with using modern technology. 
Posted 11:42 AM  View Comments

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