Is protecting your business from hackers worth 2 minutes of your day?
Every day, more than 1 million people become victims of cyber crime. Cyber criminals look for the weak spots and then attack, no matter how large or small the organization. Unfortunately organizations mistakenly believe their traditional insurance policies cover them for all privacy/security liability exposures and notification expenses - the unexpected costs can be financially devastating. There are both legal and ethical obligations to inform your customers and the public that their information is at risk, with costs that can be as high as $200 per record for proper notification.
Reasons to Consider:
- Cyber crime is the fastest growing crime in the world
- Client and employee data (paper & electronic) is valuable and you can be held liable if compromised
- Complying with the 47 breach notification state laws or the Federal HITECH Act costs time and money (must abide by state laws of affected individual)
- Portable devices increases the risk of a loss or theft
- Social media usage is at an all-time high
- Your reputation is your number one asset, so it makes sense to insure it.