Threats to a company’s proprietary information and customer data are an ever-changing, always increasing challenge. The cost of a data breach includes legal expenses, forensic fees, lost customers, reputation management, and the notification process. Unfortunately, actual costs extend beyond the dollars spent to address the incident: 31% of breach notification recipients terminate their relationship with the organization, 59% of breached companies were embroiled in subsequent litigation, 33% faced potential regulatory fines, and 32% experienced a decline in share value. Approximately 60% of all small or medium sized companies go out of business within six months of experiencing a breach. Most small or medium sized companies lack the expertise or resources to properly address the cyber landscape.
The GIS Comprehensive Commercial Cyber Service includes:
As part of the GIS Cyber program, you have the Enterprise Cyber Liability Program included in your service. This provides your business with $100,000 of cyber liability insurance.
The Enterprise Cyber Liability Program protects a business for the cost of an actual or suspected violation of a privacy regulation due to a security breach that results in the unauthorized release of protected personal information which is any private, non-public information of any kind in the merchants care, custody or control.
The program has been made available through the North American Data Security RPG, a risk purchasing group, and is backed by a carrier rated A+ by AM Best.
Incident Response Services Overview
A comprehensive privacy management program that emphasizes contemporary family issues.
Responding to a Breach
Resolution of existing issues, suspicion of fraud, and related personal issues: identity theft, estate settlement, and social media and mobile devices.
Cyber Resources & Training
Advocacy assistance with personal problems: document replacement, travel identity assistance, and change of address.