10 Questions you should be asking yourself about Cyber Liability
- On January 13, 2016
- What would be the worst-case scenario if the private personal information your employees and clients entrusted to you were stolen?
Money, reputation, loss of customers - Have you considered the Third-Party costs to your business in the event of a Privacy Breach?
Intellectual property infringement, reputational injury, customer’s systems being unavailable and the cost to defend your business against numerous lawsuits. - How many paper and electronic records do you have stored?
Past and present clients; past, present and prospective employees - Do you have written agreements concerning privacy with outside vendors?
Document storage, janitorial services, cloud providers - What type of social media is your business using?
- Are there restrictions to its administration?
Landmines include – Invasion of privacy, copyright and trademark liability, defamation and slander - Are you familiar with the most recent privacy breaches in your industry?
Visit www.privacyrights.org - Are you aware that the average 1st party cost for a claim is $73/record?
Cost includes notification and credit monitoring for customers, plus public relations expenses - Are you familiar with our State’s regulations for notification in the event of a privacy breach?
www.ncsl.org - Do any of your employees access your system from a mobile device?
The Ponemon study shows 81% of employees have access to PII on tablets, smart phones and employee laptops. An overwhelming number of Privacy Breaches occur via employee devices!
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