Recent and historical data incidents, such as the 2021 Colonial Pipeline ransomware attack and the 1998 near-loss of Pixar’s Toy Story 2, underscore the critical importance of robust data backup strategies. The Colonial Pipeline attack, which disrupted oil supplies and forced the company to pay a $4.4 million ransom, exposed vulnerabilities in data protection. Meanwhile, Pixar’s close call with Toy Story 2, nearly resulting in the loss of valuable data due to human error, highlights the timeless need for reliable backup solutions. These incidents illustrate that having a strong backup policy is simply business savvy, and it’s needed to ensure and meet the demands of cyber insurance policies, guaranteeing successful data recovery and ongoing operations.
A new survey by Apricorn reveals that over 60% of IT decision-makers have relied on backups to recover data following cyberattacks. While 63% successfully restored their data, 23% only managed partial recovery, and 3% failed entirely due to insufficient backup strategies. This points to a pressing need for effective data backup strategies.
The 3-2-1 Rule and Cyber Insurance
Kurt Markley, Managing Director Americas at Apricorn, emphasized the inevitability of cyber threats: “Cyber-attacks are an ‘if’ not a ‘when’ situation,” he said. “Businesses must have well-thought-out backup strategies to ensure they can recover quickly after an attack.” Markley advocates for adopting the 3-2-1 rule, which involves keeping three copies of data on at least two different media, with one copy stored offsite. He added, “For organizations to be truly resilient, it’s critical to include an encrypted removable drive that can be disconnected from the network.”
Furthermore, 58% of respondents identified strong backup policies as crucial for meeting cyber insurance compliance. Markley noted, “The fact that so many organizations are improving their backup practices shows a growing recognition of the high stakes involved in data protection. As cyber threats continue to evolve, robust backup strategies are essential for comprehensive cybersecurity.”
The survey also found that nearly 12% of respondents believe their current backup systems are inadequate for rapid recovery. Despite this, over 40% of organizations are backing up data to both central and personal repositories, indicating a growing awareness of data backup strategies.
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