 |
May 2007 |  |
 |
||
 |
 |
 |
 |
 |
 | ||||
Small Business Owners Need Data Compromise Coverage
HSB's Program Can Pay for Expenses and Provide Professional Services
DATA BREACHES GETTING WORSE
The breach of personal information is a growing problem in the United States. In the past two years alone, data breaches have affected approximately 100 million Americans, a consumer watch group reports. Personal data may be stolen from physical records, obtained by fraud, hacked from computers, or mistakenly released.
STOLEN LAPTOPS, NEW LAWS
Here are some other facts that you should know.
- Laptops are the target of thieves. About a quarter of all reported data breaches involve missing laptops. It's not surprising: 10 percent of all laptops are stolen in the first 12 months. Half of companies had laptops stolen in the last year and almost 60 percent of all corporate crimes are linked to stolen laptops.
- New laws make businesses respond. Data breach notification laws have been passed in 35 states. Federal legislation is pending. Most of the laws require businesses to warn victims about potential identity theft and fraud. Businesses may have to pay to monitor personal credit.
- Consumers are demanding action. The public expects businesses to safeguard personal information. They want breach victims to be notified and the business to communicate the scope of the damage. They also demand the company provide assistance when a data breach occurs.
A data breach can seriously harm the brand and image of a business. Sales can be lost and customers may switch suppliers. HSB's Data Compromise coverage helps small to mid-size businesses pay for the cost of notifying individuals, legal reviews, forensic technology services, and more. We offer personal services for eligible insureds, including a help line and credit checks for people affected.
HSB HELPS PROTECT YOUR INSUREDS
HSB's Data Compromise coverage is added to the small business policies of insurers that partner with HSB. Ask the carriers you represent if they offer our program, or contact HSB toll-free at 1-888-665-3688 for more information.
