One thing that the digital landscape has done for consumers has made everything within reach. Just a click of a couple buttons and you have what you need including food delivery, entertainment, travel plans, and credit monitoring. But that last part is something that cyber hackers are taking advantage of, especially in a more digitally dependent world.
More than 10 million cyber-attacks occur each day in some form or another, and big breaches are becoming more common among the world’s largest companies. Yahoo! saw 3 billion of its user accounts breached in 2016, leading to one of the biggest data breaches of all time. Businesses of all sizes need to be prepared to safeguard against attacks, but also have to be prepared for the fallout after a breach occurs and how they handle things.
Here are some ways a company can handle a data breach before it turns into a public relations nightmare.
No matter the size of a data breach, when consumers hear about an attack they can lose faith and become upset, and rightfully so. The most important thing that a company needs to do is get out in front of the issue and be honest and timely in a response. Companies should be prepared for sincere apologies and also be willing to communicate a plan of action that customers and shareholders alike can depend on.
Open Up to Communication
It’s important to get as much negativity away from a company as possible following a data breach. One way this can be done is to create a single landing page where information related to cyber security and data breaches can be accessed by the public. Having a single site with detailed information with provided information can answer questions and provide solutions in an organized way.
This can also provide a link outside a company’s main website and can allow for simple replies that won’t gum up the works. Redirecting negative feedback away from a main site can alleviate some stress away from the company and allow their customers and clients to get access to information more easily.
Offer the Right Information
When a cyberattack occurs, people just want to know the plain facts right away. This can be one of those most stressful and hard to handle moments for consumers who feel they’ve been taken advantage of, so it’s important for a company to put actions to work, not just offer apologies. This can be done by offering free credit monitoring, discounts or something to compensate clients for a failure.
Get in Touch with Insurance
It’s important to handle all PR matters quickly and openly, alleviating stress and doing your best to bring back trust. But companies need to also access their insurance coverage, such as comprehensive cyber liability coverage that can financially support a company following a breach. Having this kind of insurance, like from Tangram Insurance Services, can provide peace of mind, which makes a huge difference following a stressful time like a data breach.
About Tangram Insurance Services
Located across the Golden Gate Bridge, just outside of San Francisco, Tangram is a full-service Managing General Underwriter and Program Manager offering specialty programs. We focus on industry-relevant coverage, competitive pricing, and practical business and risk management solutions for your clients. Since we are not all things to all people, we make sure to create outstanding custom-built solutions that matter to those businesses, and the brokers who serve those industries. Contact us at (888) 744-9810.