How prepared are you to handle the risk of breaching the privacy of customer or employee records?
Currently, it is estimated that there are almost 100 regulations – including the standards created by the Payment Card Industry – directed toward protecting health, financial and other private data of individuals. Compliance is difficult and cyber thieves have proved to be effective and elusive. Both the regulatory and effectiveness of hackers has caused many experts to conclude that data breaches are inevitable.
We have geared our products and services to understand your business and help direct an assessment of your exposure to this risk. We then offer product support in the following key areas:
- Liability stemming from regulatory fines, notification requirements and civil lawsuits
- Costs associated with computer forensics needed to diagnose the problem and make recommendations for a solution
- Crisis funds to support public relations efforts to restore customer and employee confidence in your firm
- Costs associated with providing the remedy and prevent a future breach
Data related security breaches are occurring with alarming frequency and in every type of business. For a more detailed explanation of cyber related risk, please see our blog article “Cyber Security – the new frontier for thieves”.