What happens when a company laptop goes missing? What of when customer payment records are stolen? Paper files are lost. Worse still, suppose online systems are hacked? What next for such a company especially if it is an upcoming company trying to establish itself? Truly speaking, any enterprise that collects or stores sensitive personal information be it electronically or in paper files, is at risk for a dynamic data breach. According to the 2013 Verizon Dynamic data Breach Investigations Report (DBIR), 31% of all data breaches investigated in 2012 occurred in organizations with less than 100 employees.
The DBIR also revealed that most breaches investigated in 2012 were preventable. As a matter of fact, 78% of system attacks were rated as low on the VERIS difficulty scale. This means that with the right preparation and security measures, businesses can help reduce the chance of falling victims of the same.
Get Fast, Expert Assistance When You Need It
Suppose a data breach occurs, complying with any notification requirements will be a daunting and time-consuming task. In addition, you may want to take immediate steps to help preserve your business’s reputation. Some companies may be ready to work with you to quickly develop a response plan to help mitigate the impact of a breach by providing the following:
- Dynamic data masking reach counselling to help determine if a data breach has occurred and assess the severity of the incident
- Notification assistance to prepare notification letters that comply with regulatory requirements
- Crisis management & public relations to help handle a breach to help restore your business’s hard earned reputation
- Remediation services to provide recommendations for impacted individuals like credit monitoring • Documentation support to record steps taken and remediation services provided in the event you’re sued and need to prove steps were taken to contain the breach.
It is also crucial to defend yourself against liability expenses. Remember the longer it takes to detect a dynamic data breach, the longer sensitive personal data is exposed – and the longer it may take to contain the dynamic data breach. This could mean increased liability to your business. And you could be sued by those whose sensitive information was exposed. Defence & liability coverage helps pay for the cost of your defence and any civil awards, settlements or judgments you’re legally obligated to pay. It’s available with the purchase of data breach response services, but not as standalone coverage.
- Dynamic Data Breach Notification Laws
- Country Ratings On Costs Of Data Breach
- How To Protect Data From Breach