According to Forrester’s Security Survey, 2023, global security decision-makers who cited a lack of adequate incident response preparation as a top information/IT security challenge at their organization spent a mean of $204,000 more on breaches over 12 months than all survey respondents. They also experienced almost one more breach annually. This highlights the value of security operations and incident response: It’s the last defense against a cyberattack that has bypassed prevention. While cyber insurance can cover some breach costs, security and risk leaders can also benefit from partnerships between insurers and IR services providers for incident readiness.