Why pre-loss planning should be a key part of your cybersecurity strategy

Pre-loss or pre-breach planning is a term used by the insurance industry but it applies equally to your corporate network. In a nutshell, pre-loss planning is about putting a strategy in place that mitigates or avoids losses before they happen.

In IT terms, we often call this disaster recovery and cybersecurity planning.

But pre-loss planning is a great way to look at it because putting the right plans in place can take you from being a potential cybercrime victim to a robust and resilient business.

Planning for the worst (while hoping for the best) is the most pragmatic way to protect your organisation from cybercriminals, human error, and unforeseeable disasters.

First, consider the potential ramifications of a successful cyberattack. They could include:

  • financial losses
  • reputational damage
  • furious customers
  • legal consequences.

Second, think about how your business would recover from a serious attack. For many businesses, a successful cyberattack could sound the death knell since the resulting costs and loss of goodwill can be too much to come back from. This is the old adage of “failing to prepare is preparing to fail”.

Third, think about the costs of protecting your business versus the cost of doing nothing. The return on investment in cybersecurity tools and policies is clear: it can help ensure your business continues to operate despite being targeted by hackers or suffering a disaster.

Developing an action plan before it’s too late can save your business massive amounts of time, energy, and, of course, money. Avoiding the negative consequences, or losses, associated with a cyberattack or disaster is the ultimate goal.

How to put a pre-loss cybersecurity plan in place

  1. Review the threat landscape and the specific level of risk your business is likely to face.
  2. Decide on what level of risk you’re willing to accept as a trade-off for fewer security measures.
  3. Audit your existing security measures against your risk level and appetite, and identify the gaps.
  4. Work with a trusted provider to fill the gaps in ways that make sense for your organisation’s goals, budget, and culture.
  5. Test your security regularly with techniques such as penetration testing to ensure your systems, processes, and policies are still adequate to protect against current threats.
  6. Upgrade your security as necessary.
  7. Repeat

For help developing and managing your pre-loss cybersecurity plan, talk to the experts. Aleron offers strategy development and management, professional services and consulting, and managed security services to keep your organisation safe from cybercrime.