Cyber attacks are not only increasingly prominent, but are also increasingly costly. The financial impact of a data breach averages $10 million per occurrence. Data breach insurance coverage may help ameliorate these financial consequences and constitutes a vital part of a comprehensive data security strategy.
In our last post, we discussed how to minimize your risk of a data breach. But what do you do if and when a data breach occurs? How will you know when to send a notification? Today, we’ll discuss just that.
Data breaches are becoming an everyday occurrence. Just ask The Home Depot, Target and Schnuck’s. The number of companies reporting a data breach increased over 30% in the past two years. Experts agree that every company is susceptible to data breaches, and that it is not a question of if but when it will happen.
You’ve been hearing about data breaches for quite some time now. It seems like there’s a new one every day. Most of the news focuses on credit card transactions, but regardless of your industry and the safeguards you use to protect your data, if you collect any type of information about your customers, you’re at risk.