The loss of confidential customer and employee data remains the top cyber-related concern for smaller businesses whereas, for large companies, their biggest concern shifted in 2017 from data breaches to managing reputational and regulatory risks, according to USI Insurance Services’ 2017 Cyber Security and Data Privacy Study.

Damage to the reputation of an organization that experiences a breach can be catastrophic or minimal — it depends on the public’s perception and understanding of the event. Engaging the right people at the right time to communicate a well-thought-out message is the first step to managing an organization’s reputation in the wake of an incident and is a critical part of an incident response plan.

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