Needed capacities or functions - Cyber Insurance
Investigate and strongly consider purchasing cyber insurance from a reputable insurance broker.
Discuss with your legal counsel whether your firm's current coverage is sufficient considering the types of information you are storing, your current security practices, your malpractice coverage, etc.
Important Considerations and Best PracticesCyber insurance is essential in helping your organization recover after a data breach. Insurance can help with costs that can include business disruption, equipment damage, legal fees, public relations expenses, forensic analysis, and costs associated with legally mandated notifications. Insurance also helps companies comply with state regulations that require a business to notify customers of a data breach involving personally identifiable information. Programs should have cybersecurity insurance in place in the event of a cybersecurity breach. Programs should be aware of their legal and ethical duties, including reporting to the clients and relevant legal authorities, in case of a breach. |