If a data breach occurs, companies have to be prepared to respond, re-mediate and recover. Insurance is an excellent tool to assist in these efforts. (Shutterstock)

Cyber crime is the most serious man-made threat facing companies today. Not surprisingly, companies expend significant human and financial resources to strengthen computer network defenses and train their staff to prevent a sensitive data breach. Great cost is incurred to shore up the front lines and keep the threat at bay. This is the correct approach. But unfortunately, no one has developed a foolproof method to stop hackers who are often one step ahead of their targets in terms of attack methods. Related: Cyber insurance claims: What happens when a breach occurs If a data breach occurs, companies have to be prepared to respond, re-mediate and recover. Insurance is an excellent tool to assist in these efforts. To get the most out of a data security insurance product, brokers should advise their clients to follow these four steps, which cost nothing but can result in great benefits during an otherwise challenging time. Industries of all types are spending vast sums of money in order to secure their data and customer information to the greatest extent possible. In the event that technical and human defenses fail, the insurance industry offers a multitude of products to provide expertise and coverage for expenses incurred in responding to a breach. Companies should take the time to know how they can best benefit from a cyber insurance product, and determine everyone's role before an event occurs. The steps outlined here cost nothing and can pay great dividends should the need arise. Given the increasing cyber challenges facing businesses today, these are steps worth taking. Matt Tucci ([email protected]) is vice president of Professional Liability Claims at Aspen Insurance. The opinions expressed here are the author's own. See also: The 3 R's to remedy a cyber breach 5 essentials of a cyber liability insurance policy What's the best business insurance to cover a cyber breach What to expect: the cyber liability insurance application process