Data Breach is a security violation where a company’s sensitive and confidential data is copied, viewed, stolen or used by an unauthorized individual. Data breach is not an issue of “if” but rather “when”. With this in mind, it’s best to prepare your business for data breach.
You need to face this issue head one, by considering the options for your business’ protection. One of the current solutions is acquiring a data breach insurance, which covers a wide variety of potential cost associated with a breach. Given that this is a new financial instrument, terms and conditions for the coverage may vary from one insurance provider to another.
The breach insurance doesn’t stop data breach from occurring in your company or eliminate accidents; all it does is mitigate the downside of the breach.
These three practical steps will help you protect your organization against a breach: