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ARTICLE · 07 AUGUST 2023

Five Tips To Avoid, Manage And Respond To A Cyber Attack

Gowling WLG
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The digitisation of businesses and the increasing reliance on technology for core business operations has heightened the risk of a cyber attack. In fact, in this day and age...

United KingdomInsurance
Helen Davenport
Helen Davenport
Amber Strickland
Amber Strickland
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The digitisation of businesses and the increasing reliance on technology for core business operations has heightened the risk of a cyber attack. In fact, in this day and age, it's a matter of when – and not if – a cyber attack will take place.

A cyber attack can cause significant financial loss, intellectual property theft, disruption to business services and can also damage investor and consumer confidence in a particular organisation. IBM's 'Cost of a Data Breach' report estimates that the global average cost of a ransomware attack in 2022 was USD $4.54 million, and the average total cost of a data breach that same year was USD $4.35 million.1

It is therefore imperative for businesses to invest in developing policies and strategies which will help them avoid, manage and respond to cyber attacks. We set out our five top tips below.

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