Do you carry insurance for IT security? Breaches can be costly. Insurance is just stepping up to meet this need.
If you suffer a data breach or lose a laptop, you may be required to send out letters notifying everyone who has ever done business with you of the possible data loss.
One of my clients explained that the costs can soar to $5 per person to locate and notify people you’ve done business with. That’s $5,000 for every 1000 people you’ve served!
Additionally, there may be fines levied against you.
More and more, our clients and audience members are asking about IT security insurance to augment your protection. There is even IT data security insurance.
I am not an insurance professional, and I encourage you to contact your insurance agent for more information.