Data Breach

Best Review reported this month that the average cost of a data breach is now $204 per record exposed.

This includes the cost of notifying those whose records have been released, reissuing credit cards, credit monitoring services, and counseling services.

Standard insurance will not pay for these expenses.  Insurers are coming out with Cyber Liability policies to pay for the liability of data breaches and the expenses of mitigating the loss.

-Protect your data - paper records and electronic data - onsite and online.

-Have a plan in place to deal with a breach.

-Monitor laptops and consider retrieval services like "Lojack for Laptops."

-Train your people about the consequences of a data breach.