As recent news headlines confirm, data breaches continue to threaten companies regardless of size. From reputational harm, and disruption to your daily business, to significant monetary penalties and litigation, the potential consequences of a data breach are significant. It is more important than ever that companies evaluate their cybersecurity readiness plan, from policies and procedures to privacy concerns under the GDPR to ensure they are ready if a breach occurs. While there is no one-size fits all approach to preventing data breaches, there are many best practices companies can employ to help minimize the risk of a breach. From regular conducting risk assessments and inventorying of the data that you collect to developing and testing your Incident Response Plan, preparation is the name of the game. One component of your data security program, an Incident Response Plan, is an important step you should have in place to help mitigate and contain an incident if one occurs.
What is an Incident Response Plan?
An Incident Response Plan sets forth the company’s procedure for identifying, reporting, and responding to an incident should one occur. It helps to ensure everyone is on the same page if a data breach happens. At a minimum, here are some key elements that an Incident Response Plan should include:
- Policy scope and definitions.
- Identify Incident Response Team Members and outline roles for each.
- Outline procedures for identifying, reporting and responding to an incident.
- Set forth the legal obligations for reporting and notice to potentially impacted persons.
- Identify how often the Plan will be reviewed and updated.
- Post-incident analysis procedures.
Developing an Incident Response Plan is not the end of the road, however. It is a living and breathing document and the best way to know if it actually works is to test it consistently. Simulated cyber incidents that force your company to work through the procedures in your plan must be tested, gaps fixed, and improvements made. Simulated incidents with counsel are ideal to help identify legal risks along the way and help put the company in a legally defensible position.
It is very important to have your Incident Response Plan reviewed by Legal Counsel to ensure it satisfies your legal obligations under various state, federal and international laws. If you have questions about creating a legally defensive Incident Response Plan contact the cybersecurity and incident response attorneys at Octillo. Our team of experienced attorneys, who are also devoted technologists, are fully equipped to help you navigate this process and help reduce your risk and exposure should a data breach occur.
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