of businesses are closed 6 mos. after a data breach
of attacks are delivered through email
of businesses have cyber liability coverage
of cyber claims get denied due to non-compliance
Disciplined Delivery ofTailored Professional Services
At North Bridge, we understand that cyber security and risk management should be integrated into the culture of any organization, and that all team members should understand the importance of cyber security in the modern workplace. To help businesses manage their risk, we have developed a four-step process that include Assess, Secure, Insure, and Review. By following this process, businesses can ensure that they are properly protecting themselves against cyber threats.
First, we assess a business’s current cyber security posture and identify any vulnerabilities. This includes evaluating their technology, processes, and policies to determine what needs to be improved. Next, we work with the business to secure their systems and data, implementing the necessary controls and procedures to prevent cyber attacks.
Once the business’s systems and data are secure, we help them to obtain the proper insurance coverage to protect against financial loss in the event of a cyber attack. This includes advising them on what type of policy is best for their business and working with them to ensure that they are in compliance with the terms of their policy.
Finally, we review the business’s cyber security posture on a regular basis to ensure that it is still effective and to make any necessary updates. By following this four-step process, businesses can effectively manage their cyber risk and protect themselves against cyber threats.
Our Process in 4 Steps
Get your business moving in the right direction as our team of experts moves you through a 4-step journey tailored to your needs.
Meet With An Expert
Take advantage of a 30 Minute virtual meeting to...
Step 1: Assess
The “Assess” step refers to the cyber security risk assessment process. This is an essential step for any business looking to protect itself from cyber threats. It involves analyzing and identifying potential vulnerabilities in an organization’s networks, systems, and data, and determining the likelihood and impact of a potential cyber attack. The risk assessment process helps businesses understand their current level of risk, prioritize their risk management efforts, and allocate resources accordingly.
There are several variations in the risk assessment process depending on the type of business. For example, law firms have unique cyber security risks due to their handling of sensitive client information. Healthcare providers also face specific risks, such as the potential theft of patient data and the potential for ransomware attacks on medical devices. Financial firms, including banks and investment firms, have a high risk of financial fraud and the potential loss of sensitive financial data. Retail businesses, particularly small “mom and pop” stores, may have less complex networks and systems, but still face risks such as point-of-sale attacks and the loss of customer data.
Step 2: Secure
The “Secure” step of the cyber security risk management process is focused on implementing the necessary controls and safeguards to protect the organization’s assets and data. This can include a variety of measures such as installing firewalls, implementing multi-factor authentication, implementing network segmentation, and installing antivirus software.
North Bridge helps organizations during the “Secure” step by working with them to identify their unique needs and risks and then helping them to implement the necessary controls and safeguards to protect their assets and data. We also provide ongoing support to help our clients stay up-to-date and ensure that their controls and safeguards are continuously effective in protecting their business.
Do You Have a False Sense of Cyber Security?
There are many common misconceptions about cyber crime and cyber security that can lead business leaders to believe they are fully protected and have a false sense of cyber security.
Are any of these misconceptions part of your thought process?
Step 3: Insure
The “Insure” step in North Bridge’s cyber security risk management process involves evaluating the organization’s current level of insurance coverage and determining if it is sufficient to cover potential losses in the event of a cyber attack or data breach. This may involve working with the organization’s insurance provider to review and adjust coverage levels, as well as reviewing the organization’s policies and procedures to ensure they are in line with the requirements of their insurance policy.
In addition to reviewing and adjusting insurance coverage, the “insure” step in the risk management process may also involve implementing policies and procedures to ensure the organization is in compliance with their insurance policy. This can include regularly reviewing and updating security protocols, training employees on cyber security best practices, and conducting regular risk assessments to identify and address potential vulnerabilities. By proactively managing their cyber risk, organizations can not only protect themselves from financial losses, but also improve their chances of a successful insurance claim in the event of a cyber attack or data breach.
Step 4: Review
The “Review” step in the cyber security risk management process is crucial in ensuring that a business’s risk profile remains current and its defenses remain effective. It is important for businesses to regularly review and assess their cyber security posture to identify any weaknesses or vulnerabilities that may have arisen since the last review. This can be done through various methods such as internal audits, penetration testing, and vulnerability assessments.
It is also important to consider the potential impact of a cyber security incident on the business when determining the frequency of review. For businesses that handle highly sensitive data or those that operate in a high risk industry, more frequent review may be necessary to ensure the necessary safeguards are in place.