The ALS Group Risk Management Articles

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In several of my most recent “Cyber Tuesday” posts, I’ve discussed the importance of developing a comprehensive cyber risk mitigation strategy which includes IT security measures, well thought out incident response, business continuity documentation and cyber insurance. A recent ransomware event at the University of Calgary shifted the focus to the cyber insurance.

When addressing cyber risk and the threat of ransomware most of the time we focus on prevention and mitigation strategies. However, being prepared to respond quickly and efficiently when an event does occur is just as important to operations recovery, cyber event cost reduction, and brand/reputation protection. Having a well-defined, documented, and regularly tested Incident Response Plan (“IRP”) that aligns with your Disaster Recovery/Business Continuity Plan (“BCP”) can help your organization to recover from and remain operational during a cyber breach event.