Risk management in the economic sector

Part 2: Risk minimisation through preventive measures & crisis management

In the digital business world, online-based companies face various risks that can have both technical and human causes. Cyber attacks, technical failures and negative PR crises are some of the threats that need to be managed. A combination of preventive measures and crisis management is crucial to protect the company from damage and ensure business continuity.

Preventive strategies aim to identify and minimise risks at an early stage. For digital companies, cyber insurance is an essential component of prevention, as it covers damage caused by data loss, business interruption and liability claims. In addition to insurance, a solid IT security foundation must be established. This includes firewalls, regular software updates and training to raise awareness of cyber threats. Systems for detecting anomalies in data traffic enable early defence against attacks and help to prevent risks from the outset.

Effective crisis management is also essential. A comprehensive crisis plan enables companies to react quickly and in a coordinated manner in the event of an emergency. Such a plan defines responsibilities and processes and contains technical and communicative measures to inform customers and partners transparently about incidents and minimise reputational damage. Fast and open communication is particularly important in the event of cyber incidents in order to maintain customer trust. Emergency plans for technical failures ensure that important systems are restored quickly and business interruptions are minimised.

Continuously reviewing and adapting the contingency plan is essential, as threat scenarios and technological requirements are constantly changing. Regular crisis exercises help to optimise processes and identify weak points at an early stage.

To summarise, preventive strategies and solid crisis management effectively protect online companies from unforeseeable incidents. Insurance, IT security and crisis plans create a resilient basis that is essential for stability and security in the digital business world.

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