In the State of Cyber Resilience report by Marsh and Microsoft, ransomware attacks were the top concern of respondents with increasingly complex cyber threats tempering executive leaders’ confidence in their organisations’ core cyber risk management capabilities. Only 9% of executive leaders stated that they were highly confident in their organisation’s ability to manage and respond to cyberattacks. This follows on from the rise in ransomware attacks over the past several years, which in 2020 increased by 435% according to the World Economic Forum’s Global Risks Report.
All companies face the risk of a cyber incident, and organisations are bolstering their staff awareness, cyber hygiene, and security levels to minimise their vulnerabilities. This kind of preparation helps reduce the risk of falling victim to a cyberattack as no organisation can declare themselves to be 100% secure.
Irrespective of your company’s size or type of operation, a plan should be put into place to make your organisation more resilient to cyber incidents. A well-trained team that understands its specific and defined role in a coordinated action plan will respond more effectively from day one of a cyber incident. Every company has a plan for how to respond to a fire and will routinely run drills so staff know their role in an emergency — planning for a cyber incident is no different.
That’s why Marsh has created a cyber incident response guide, which will help you understand:
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