Cyber Liability 101: What To Do When There Is A Cyber Attack (Exact Steps To Take)

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First and foremost, any breach should be reported to a breach response counsel or breach coach immediately.

Many of the good insurance companies have these professionals on staff, ready to help you. In some cases, you might need to reach out to a pre-approved law firm or use the resources provided by the insurance carrier.

The breach counsel, either the one assigned by your insurance company or the one you found on your own, will lead the entire process for you, acting as your quarterback.

Getting the breach counsel involved as soon as possible is crucial. There are strict reporting deadlines, sometimes as short as 12 or 24 hours, so timing is critical.

These professionals are experienced in dealing with these situations and can help ensure you meet all necessary deadlines.

If a breach happens late in the week, like on a Friday afternoon, it’s vital that the breach counsel team, along with a claims adjuster, starts working immediately, even over the weekend.

They'll collaborate with an IT forensic team to investigate what happened, understand the breach, and help get your business back up and running.

In the case of a ransomware attack, you’ll need guidance on negotiating with the cybercriminals. If a ransom is paid, it's essential to ensure you're not violating any regulations, such as those from the Office of Foreign Assets Control.

Your breach counsel will also assign an incident response team to conduct a forensic analysis under attorney-client privilege. This team will determine what happened, how it happened, and ensure the threat is no longer active on your network. They'll also identify what data was compromised.

Based on the forensic analysis, the breach counsel will figure out which of your clients need to be notified and draft the necessary notification letters.

If your clients are in different states, the counsel will ensure you comply with each state's specific notification laws to avoid further penalties.

As you can see, taking the correct actions when managing a breach is essential.

By working with experts immediately, you can save your business significant expenses, damages, and regulatory fines.

Other helpful resources:
ProWriters - CyberU: https://prowritersins.com/cyber-u/

Learn more: http://www.yourmichiganinsurance.com/cyber-liability-steps-after-cyber-attack

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I look forward to working with you!

Playlists for Business Insurance:
📌 Workers Compensation Insurance: https://www.youtube.com/watch?v=13TcH2SH9TE&list=PLzTkhEd_30j8Btdqs7P1cjryuwgQoUhQR
📌 General Liability Insurance: https://www.youtube.com/watch?v=QNv_bCcp3Xw&list=PLzTkhEd_30j9nHtcyS1t5kCWtIFYQiipT
📌 Commercial Auto Insurance: https://www.youtube.com/watch?v=Wzzt9GI97YM&list=PLzTkhEd_30j_yKzijcjGn2ldNznsfw7e5
📌 Cyber Liability Insurance: https://www.youtube.com/watch?v=HByhtuT12xM&list=PLzTkhEd_30j-Ylb3qRX86oHfyhPAtFiTM&pp=gAQBiAQB
📌 Commercial Property Insurance: https://www.youtube.com/watch?v=8G6jLUnr3k0&list=PLzTkhEd_30j8AIlBnLe5bjweSW2-tD6KY
📌 Tech E&O Insurance: https://www.youtube.com/watch?v=uzpKw_IFFk0&list=PLzTkhEd_30j8yHQ-Lt3qyAImj7kitsNxp
📌 Management Liability Insurance: https://www.youtube.com/watch?v=MW_4zR7QTmE&list=PLzTkhEd_30j_ONpj7IGibgyBM7V017smi
📌 General Commercial Insurance: https://www.youtube.com/watch?v=_TlgPH-GbMQ&list=PLzTkhEd_30j_rLFdF80RDFt2S6MUH32xu

Specific Industry Playlists:
📌 Contractor Insurance: https://www.youtube.com/watch?v=U_CTcqEEaVo&list=PLzTkhEd_30j-Jl5nBMV0s764Oky7Dd525
📌 Manufacturing Insurance: https://www.youtube.com/watch?v=70TLC3rXFSo&list=PLzTkhEd_30j97l2bNaXx9GauKKeargsPx
📌 Trucking Insurance: https://www.youtube.com/watch?v=o87xctZs9Es&list=PLzTkhEd_30j-QPgd3LLU50iDi84vIgWsL

Playlists for Personal Home & Auto Insurance:
📌 Michigan Auto & Home Insurance: https://www.youtube.com/watch?v=DK-wxYKAIK4&list=PLzTkhEd_30j-it5aPmOe7IDbAvBeLt3k1
📌 Michigan High Value Home Insurance: https://www.youtube.com/watch?v=NnJTtAE8q0I&list=PLzTkhEd_30j8c3rQIF69Jjx2Y-4w_7YFA
📌 Michigan Electric Vehicle Insurance: https://www.youtube.com/watch?v=lCurphZqx3A&list=PLzTkhEd_30j_TILg3NeI8x39A1qa37HvK

If there’s a specific topic you’d like me to cover or if you have questions, let me know in the comments!

**DISCLAIMER: THIS IS NOT LEGAL ADVICE. USE AT YOUR OWN DISCRETION. THIS VIDEO INCLUDES MICHIGAN INFORMATION ONLY.

Видео Cyber Liability 101: What To Do When There Is A Cyber Attack (Exact Steps To Take) канала Bryan Gutowsky - Your Michigan Insurance Agent