On Monday, CNN.com ran an article on a major cyber-attack on a healthcare system operating in the southeastern portion of the country (Read article here). Names, addresses, social security numbers, and dates of birth for 4.5 million patients were stolen before the healthcare system discovered the hack.
Most industry experts consider a cyber-breach to be a matter of when, and not if for any company that stores personally identifiable information. A breach can be as simple has having a laptop stolen, to a sophisticated hack like the one discussed in yesterday’s article.
The fall out of a cyber-breach can be costly in terms of negligence actions against the company whose data has been breached. But what many companies do not factor into the equation is the cost of bad publicity, flight of customers, and participating in a criminal investigation.
Cyber-liability breach insurance will cover some of those expenses, but is that enough to protect yourself and your company? For more information about how to protect your company before a cyber-breach occurs and how to recover from a hack, contact the Goosmann Law Firm at info@Goosmannlaw.com or call (605)371-2000.
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