SMB Data Breach Risk Management Best Practices. By Mark Pribish February 19, 2015

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "SMB Data Breach Risk Management Best Practices. By Mark Pribish February 19, 2015"

Transcription

1 SMB Data Breach Risk Management Best Practices By Mark Pribish February 19, 2015

2 Presentation Agenda About Mark Pribish Information Governance The Threat Landscape Data Breach Trends Legislative and Regulatory Updates Creating Your Data Breach Response Plan Questions and Answers

3 About Mark Pribish Vice President & ID Theft Practice Leader Certified Identity Theft Risk Management Specialist (CITRMS) and Arizona P&C License 25 years experience in helping consumers and enterprise organizations manage the risks associated with ID Theft and data breach events Served in senior sales positions for Aon and AIG Gannett / Arizona Republic guest columnist for cyber security, data breach, identity theft, and personal privacy Member of FBI Citizens Academy Class of 2012, FBI InfraGard Public Private Alliance, Guidepoint Global Advisors, and Risk Insurance Management Society Graduated from the University of Dayton in 1981

4 Information Governance What is Information Governance? Information governance is a holistic approach to managing corporate information by implementing processes, roles, controls and metrics that treat information as a valuable business asset. "Information governance is the activities and technologies that organizations employ to maximize the value of their information while minimizing risks and costs." Articles/T/The-IG-Initiative-Definition-of-Information-Governance.aspx#sthash.RxzcIMEl.dpuf Information governance is a set of established policies and procedures you and your employees implement and follow in order to manage sensitive and proprietary information. John G. Iannarelli, Assistant Special Agent in Charge of the FBI Phoenix Division

5 Information Governance Information Governance Program Checklist Implement an information governance policy Require annual information security training and education Understand what type of employee, customer and member data is being collected, stored, protected Constantly assess and test your organization s needs and requirements Know your organization s strengths and weaknesses Implement baseline safeguards and controls Vigilance including annual pre-employment screening Be aware of current and former employees, customers and vendors

6 Information Governance SMBs handle customer, employee and vendor information including social security numbers, bank/credit card/loan account information, drivers license numbers, birth dates, etc. SMBs use , computerized accounting, electronic procurement, and/or stores electronic employee and customer information SMBs rely on electronic networks including the information, data and the e- records within and outside these computer networks

7 Information Governance Size Doesn t Matter! Small to medium size businesses are now the target of cyber attacks and ID Theft criminals Why? Because of large business financial and IT resources, hackers and thieves are going after small to medium size businesses The Best Defense? Web filtering, security software and employee and customer education

8 The Threat Landscape of breaches are to businesses of 100 employees or fewer of SMBs have no formal cybersecurity plan of companies who experienced a data breach didn t know it Notified by 3 rd party

9 The Threat Landscape

10 The Threat Landscape Privacy Rights Clearinghouse Data Breach Timeline for Jan 19, 2015 Since January 2005 there have been 4,478 data breaches affecting nearly 1 billion records 30 percent of these data breaches were impacted by hackers and IT related events 70 percent of these data breaches were impacted by social engineering (the human element)

11 Data Breach Trends 320 breaches reported between July and September, 2014 November 19,

12 Data Breach Trends Websense Warns Doctors to be on High Alert for 2015 Cyber Blitz 19 Nov 2014 News Security experts have warned healthcare organizations to prepare for tidal wave of online attacks in % increase in attacks targeting healthcare data since the start of 2014 Security is often seen as an inhibitor leaving dangerous gaps for hackers to exploit Social media platforms would increasingly be used by cyber-criminals as covert C&C infrastructure

13 Data Breach Trends Ponemon Institute Study: Cost of a Data Breach March 2014 Total Costs averaged $201 per lost customer record Direct Incremental Costs including free/discounted services, notification letters, legal/accounting fees, etc. Lost Productivity Costs including lost time of employees and contractors diverted from other tasks Customer Opportunity Costs including cost of lost customers and cost of acquiring new customers

14 Legislative Changes/Updates Regulatory, Consumer and Data Security Laws HIPPA Data Breach Requirements (February 17, 2010) FACT Act Red Flags Rule (December 31, 2010) 47 State Security Breach Notification Laws

15 Creating a Breach Response Plan Data Breach Responsibility is on the SMB or Data Owner Whether the business data is accidentally lost or it is stolen with malicious intent Any business that experiences a data breach should work with legal counsel to determine regulatory requirements including but not limited to state breach notification laws: the FACT Act Red Flags Rule the HIPAA HITECH Data Breach Requirements the PCI Data Security Standards COPPA (Children s Online Privacy Protection Act) the 47 state breach notification laws

16 Creating a Breach Response Plan Small business data breach risk factors include people, processes and technologies: People the insider threat, whether accidental or malicious, can include current and former employees, customers, associates, vendors, and independent contractors. Processes including information technology, enterprise risk management, marketing/sales and human resources need to be aligned, defined, and documented. Technologies that are relied on to conduct and grow your business are also being used to identify vulnerabilities and cyber threats on your business.

17 Creating a Breach Response Plan What can a small business do? Complete a data assessment of the type of information that is being collected, used, stored and transmitted by asking the following questions: What type of data (e.g. current and former employee / customer / patient information) is in your electronic and hard copy files? What type of Personally Identifiable, non-public Information (PII) is included in your business data (e.g. name, address, social security number, driver s license, bank account information, credit/debit card, medical plan information)? What percentage of your data involves the collection, storage, usage, and transmittal of current and former PII? What aspects of your business products, services and technology are performed within and outside your business?

18 Creating a Breach Response Plan What can a small business do? Complete a data assessment (continued) What is the value of your data assets if they were stolen and made public? Is data that you store subject to civil fines and penalties if breached? What is your overall financial risk if data you control is breached? Which states does your business conduct business in and what states are your customers / employees / patients domiciled? Could a data breach damage your brand and if so what is the potential impact? Does your business insurance include cyber/network liability insurance?

19 Creating a Breach Response Plan Your Data breach response plan should include 5 components 1. Breach source - determine the source and make sure the data compromise is isolated and access is closed. If you cannot determine the source of breach you should engage a forensic investigation company. 2. Breach assessment - determine the scope of the data breach event and the privacy and data security regulatory requirements associated with the type of records in addition to the state of domicile. 3. Response plan - include internal employee education and talking points; public relations press releases, customer education, and resources; the small business or consumer solution(s) to be considered; and the content and timely release of notification letters.

20 Creating a Breach Response Plan Your data breach response plan should include 5 components 4. Protection plan - include the small business or consumer protection services to be offered to the compromised record group and the confirmation of professional call center and recovery advocate support services. 5. Breach victim resolution plan - provide access to professional certified identity fraud recovery advocates that will work on behalf of the victims to mitigate and resolve the issues caused by breach.

21 Creating a Breach Response Plan Cyber Insurance Becomes Small-Business Necessity Nov 18, 2014 Cyber liability insurance is now as important for small businesses as property and liability insurance A data breach can damage a small business far more than a big business because it can put you out of business Any firm that has a website, uses social media or stores customers' personal records in its computers is vulnerable to a cyber-attack Like other types of insurance, cyber insurance pays for a legal expenses to defend the business in a lawsuit and money to cover losses

22 Creating a Breach Response Plan Cyber Insurance Becomes Small-Business Necessity (continued) Cyber insurance can provide a dedicated call center so that customers can call a third party specializing in data breach response Cyber insurance can include identity restoration after a breach could tie up a business for weeks Cyber insurance can include social media liability where libel and slander on social media isn't covered by most standard business policies Cyber insurance can include data recovery where a virus could destroy the business's software and data and infect customers' computers. Cyber insurance pays for the cost of restoring the computers or buying new ones if necessary

23 Contact Information Mark Pribish VP & ID Theft Practice Leader Merchants Information Solutions, Inc

24

The Future of Data Breach Risk Management Response and Recovery. The Cybersecurity Forum April 14, 2016

The Future of Data Breach Risk Management Response and Recovery. The Cybersecurity Forum April 14, 2016 The Future of Data Breach Risk Management Response and Recovery Increasing electronic product life and reliability The Cybersecurity Forum April 14, 2016 Today s Topics About Merchants Information Solutions,

More information

SafeBiz. Identity Theft and Data Breach Program For Small & Medium Size Businesses (SMB)

SafeBiz. Identity Theft and Data Breach Program For Small & Medium Size Businesses (SMB) SafeBiz Identity Theft and Data Breach Program For Small & Medium Size Businesses (SMB) 1 About Us Since 2003 we have helped victims of identity theft recover fully from this devastating crime, and continue

More information

Data Breach and Senior Living Communities May 29, 2015

Data Breach and Senior Living Communities May 29, 2015 Data Breach and Senior Living Communities May 29, 2015 Todays Objectives: 1. Discuss Current Data Breach Trends & Issues 2. Understanding Why The Senior Living Industry May Be A Target 3. Data Breach Costs

More information

Network Security & Privacy Landscape

Network Security & Privacy Landscape Network Security & Privacy Landscape Presented By: Greg Garijanian Senior Underwriter Professional Liability 1 Agenda Network Security Overview -Latest Threats - Exposure Trends - Regulations Case Studies

More information

Cyber Insurance: How to Investigate the Right Coverage for Your Company

Cyber Insurance: How to Investigate the Right Coverage for Your Company 6-11-2015 Cyber Insurance: How to Investigate the Right Coverage for Your Company Presented by: Faith M. Heikkila, Ph.D., CISM, CIPM, CIPP-US, ABCP Greenleaf Trust Chief Information Security Officer (CISO)

More information

Data Security Breaches: Learn more about two new regulations and how to help reduce your risks

Data Security Breaches: Learn more about two new regulations and how to help reduce your risks Data Security Breaches: Learn more about two new regulations and how to help reduce your risks By Susan Salpeter, Vice President, Zurich Healthcare Risk Management News stories about data security breaches

More information

Network Security & Privacy Landscape

Network Security & Privacy Landscape Network Security & Privacy Landscape Presented By: Pam Townley, AVP / Eastern Zonal Manager AIG Professional Liability Division Jennifer Bolling, Account Executive Gallagher Management Liability Division

More information

Law Firm Cyber Security & Compliance Risks

Law Firm Cyber Security & Compliance Risks ALA WEBINAR Law Firm Cyber Security & Compliance Risks James Harrison CEO, INVISUS Breach Risks & Trends 27.5% increase in breaches in 2014 (ITRC) Over 500 million personal records lost or stolen in 2014

More information

October 24, 2014. Mitigating Legal and Business Risks of Cyber Breaches

October 24, 2014. Mitigating Legal and Business Risks of Cyber Breaches October 24, 2014 Mitigating Legal and Business Risks of Cyber Breaches AGENDA Introductions Cyber Threat Landscape Cyber Risk Mitigation Strategies 1 Introductions 2 Introductions To Be Confirmed Title

More information

CYBER & PRIVACY INSURANCE FOR FINANCIAL INSTITUTIONS

CYBER & PRIVACY INSURANCE FOR FINANCIAL INSTITUTIONS CYBER & PRIVACY INSURANCE FOR FINANCIAL INSTITUTIONS 1 As regulators around the world move to tighten compliance requirements for financial institutions, improvement in cyber security controls will become

More information

WHITE PAPER KEEPING CLIENT AND EMPLOYEE DATA SECURE DRIVES REVENUE AND BUILDS TRUST PROTECTING THE PROTECTOR

WHITE PAPER KEEPING CLIENT AND EMPLOYEE DATA SECURE DRIVES REVENUE AND BUILDS TRUST PROTECTING THE PROTECTOR KEEPING CLIENT AND EMPLOYEE DATA SECURE DRIVES REVENUE AND BUILDS TRUST Protecting Identities. Enhancing Reputations. IDT911 1 DATA BREACHES AND SUBSEQUENT IDENTITY THEFT AND FRAUD THREATEN YOUR ORGANIZATION

More information

Data breach, cyber and privacy risks. Brian Wright Lloyd Wright Consultants Ltd

Data breach, cyber and privacy risks. Brian Wright Lloyd Wright Consultants Ltd Data breach, cyber and privacy risks Brian Wright Lloyd Wright Consultants Ltd Contents Data definitions and facts Understanding how a breach occurs How insurance can help to manage potential exposures

More information

Data Breach Cost. Risks, costs and mitigation strategies for data breaches

Data Breach Cost. Risks, costs and mitigation strategies for data breaches Data Breach Cost Risks, costs and mitigation strategies for data breaches Tim Stapleton, CIPP/US Deputy Global Head of Professional Liability Zurich General Insurance Data Breaches: Greater frequency,

More information

Privacy Rights Clearing House

Privacy Rights Clearing House 10/13/15 Cybersecurity in Education What you face as educational organizations How to Identify, Monitor and Protect Presented by Jamie Gershon Sr. Vice President Education Practice Group 1 Privacy Rights

More information

DATA BREACH BREAK DOWN LESSONS LEARNED FROM TARGET

DATA BREACH BREAK DOWN LESSONS LEARNED FROM TARGET DATA BREACH BREAK DOWN LESSONS LEARNED FROM TARGET 2014 NSGA Management Conference John Webb Jr., CIC Emery & Webb, Inc. Inga Goddijn, CIPP/US Risk Based Security, Inc. Not just a big business problem

More information

Ten Questions Your Board Should be asking about Cyber Security. Eric M. Wright, Shareholder

Ten Questions Your Board Should be asking about Cyber Security. Eric M. Wright, Shareholder Ten Questions Your Board Should be asking about Cyber Security Eric M. Wright, Shareholder Eric Wright, CPA, CITP Started my career with Schneider Downs in 1983. Responsible for all IT audit and system

More information

SINGAPORE HEALTHCARE ENTERPRISE RISK MANAGEMENT CONGRESS 2014 - Data Breach : The Emerging Threat to Healthcare Industry

SINGAPORE HEALTHCARE ENTERPRISE RISK MANAGEMENT CONGRESS 2014 - Data Breach : The Emerging Threat to Healthcare Industry SINGAPORE HEALTHCARE ENTERPRISE RISK MANAGEMENT CONGRESS 2014 - Data Breach : The Emerging Threat to Healthcare Industry DATA BREACH A FICTIONAL CASE STUDY THE FIRST SIGNS OF TROUBLE Friday, 5.20 pm :

More information

Insurance Considerations Related to Data Security and Breach in Outsourcing Agreements

Insurance Considerations Related to Data Security and Breach in Outsourcing Agreements Insurance Considerations Related to Data Security and Breach in Outsourcing Agreements Greater New York Chapter Association of Corporate Counsel November 19, 2015 Stephen D. Becker, Executive Vice President

More information

DATA BREACH COVERAGE

DATA BREACH COVERAGE THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ THIS CAREFULLY. DATA BREACH COVERAGE SCHEDULE OF COVERAGE LIMITS Coverage Limits of Insurance Data Breach Coverage $50,000 Legal Expense Coverage $5,000

More information

Managing Cyber & Privacy Risks

Managing Cyber & Privacy Risks Managing Cyber & Privacy Risks NAATP Conference 2013 NSM Insurance Group Sean Conaboy Rich Willetts SEAN CONABOY INSURANCE BROKER NSM INSURANCE GROUP o Sean has been with NSM Insurance Group for the past

More information

Analyzing Security for Retailers An analysis of what retailers can do to improve their network security

Analyzing Security for Retailers An analysis of what retailers can do to improve their network security Analyzing Security for Retailers An analysis of what retailers can do to improve their network security Clone Systems Business Security Intelligence Properly Secure Every Business Network Executive Summary

More information

RLI PROFESSIONAL SERVICES GROUP PROFESSIONAL LEARNING EVENT PSGLE 123. Cybersecurity: A Growing Concern for Small Businesses

RLI PROFESSIONAL SERVICES GROUP PROFESSIONAL LEARNING EVENT PSGLE 123. Cybersecurity: A Growing Concern for Small Businesses RLI PROFESSIONAL SERVICES GROUP PROFESSIONAL LEARNING EVENT PSGLE 123 Cybersecurity: A Growing Concern for Small Businesses Copyright Materials This presentation is protected by US and International Copyright

More information

Anatomy of a Privacy and Data Breach

Anatomy of a Privacy and Data Breach Anatomy of a Privacy and Data Breach Understanding the Risk and Managing a Crisis Adam Kardash: Partner, Heenan Blaikie LLP Robert Parisi: Senior Vice President, Marsh Leadership, Knowledge, Solutions

More information

Cybersecurity: A Growing Concern for All Businesses. RLI Design Professionals Design Professionals Learning Event DPLE 160 October 7, 2015

Cybersecurity: A Growing Concern for All Businesses. RLI Design Professionals Design Professionals Learning Event DPLE 160 October 7, 2015 Cybersecurity: A Growing Concern for All Businesses RLI Design Professionals Design Professionals Learning Event DPLE 160 October 7, 2015 RLI Design Professionals is a Registered Provider with The American

More information

Data breach! cyber and privacy risks. Brian Wright Michael Guidry Lloyd Guidry LLC

Data breach! cyber and privacy risks. Brian Wright Michael Guidry Lloyd Guidry LLC Data breach! cyber and privacy risks Brian Wright Michael Guidry Lloyd Guidry LLC Collaborative approach Objective: To develop your understanding of a data breach, and risk transfer options to help you

More information

Privacy / Network Security Liability Insurance Discussion. January 30, 2013. Kevin Violette RT ProExec

Privacy / Network Security Liability Insurance Discussion. January 30, 2013. Kevin Violette RT ProExec Privacy / Network Security Liability Insurance Discussion January 30, 2013 Kevin Violette RT ProExec 1 Irrefutable Laws of Information Security 1) Information wants to be free People want to talk, post,

More information

Cyber and Privacy Risk What Are the Trends? Is Insurance the Answer?

Cyber and Privacy Risk What Are the Trends? Is Insurance the Answer? Minnesota Society for Healthcare Risk Management September 22, 2011 Cyber and Privacy Risk What Are the Trends? Is Insurance the Answer? Melissa Krasnow, Partner, Dorsey & Whitney, and Certified Information

More information

Cyber Insurance: How to Investigate the

Cyber Insurance: How to Investigate the 10-26-2015 Cyber Insurance: How to Investigate the Right Coverage for Your Company Presented by: Faith M. Heikkila, Ph.D., CISM, CIPM, CIPP-US, ABCP Greenleaf Trust Chief Information Security Officer (CISO)

More information

8/3/2015. Integrating Behavioral Health and HIV Into Electronic Health Records Communities of Practice

8/3/2015. Integrating Behavioral Health and HIV Into Electronic Health Records Communities of Practice Integrating Behavioral Health and HIV Into Electronic Health Records Communities of Practice Monday, August 3, 2015 1 How to ask a question during the webinar If you dialed in to this webinar on your phone

More information

Managing data security and privacy risk of third-party vendors

Managing data security and privacy risk of third-party vendors Managing data security and privacy risk of third-party vendors The use of third-party vendors for key business functions is here to stay. Routine sharing of critical information assets, including protected

More information

Lessons Learned from Recent HIPAA and Big Data Breaches. Briar Andresen Katie Ilten Ann Ladd

Lessons Learned from Recent HIPAA and Big Data Breaches. Briar Andresen Katie Ilten Ann Ladd Lessons Learned from Recent HIPAA and Big Data Breaches Briar Andresen Katie Ilten Ann Ladd Recent health care breaches Breach reports to OCR as of February 2015 1,144 breaches involving 500 or more individual

More information

Anatomy of a Hotel Breach

Anatomy of a Hotel Breach Page 1 of 6 Anatomy of a Hotel Breach Written by Sandy B. Garfinkel Monday, 09 June 2014 15:22 Like 0 Tweet 0 0 Data breach incidents have dominated the news in 2014, and they are only becoming more frequent

More information

Cyber-Crime Protection

Cyber-Crime Protection Cyber-Crime Protection A program of cyber-crime prevention, data breach remedies and data risk liability insurance for houses of worship, camps, schools, denominational/association offices and senior living

More information

GALLAGHER CYBER LIABILITY PRACTICE. Tailored Solutions for Cyber Liability and Professional Liability

GALLAGHER CYBER LIABILITY PRACTICE. Tailored Solutions for Cyber Liability and Professional Liability GALLAGHER CYBER LIABILITY PRACTICE Tailored Solutions for Cyber Liability and Professional Liability Are you exposed to cyber risk? Like nearly every other business, you have probably capitalized on the

More information

Cyber Liability. Michael Cavanaugh, RPLU Vice President, Director of Production Apogee Insurance Group 877-337-3200 Ext. 7029

Cyber Liability. Michael Cavanaugh, RPLU Vice President, Director of Production Apogee Insurance Group 877-337-3200 Ext. 7029 Cyber Liability Michael Cavanaugh, RPLU Vice President, Director of Production Apogee Insurance Group 877-337-3200 Ext. 7029 Today s Agenda What is Cyber Liability? What are the exposures? Reality of a

More information

Managing Your Cyber & Data Risk 2010 NTA Convention Montreal, Quebec

Managing Your Cyber & Data Risk 2010 NTA Convention Montreal, Quebec Managing Your Cyber & Data Risk 2010 NTA Convention Montreal, Quebec Jeremy Ong Divisional Vice-President Great American Insurance Company November 13, 2010 1 Agenda Overview of data breach statistics

More information

PCI Compliance for Healthcare

PCI Compliance for Healthcare PCI Compliance for Healthcare Best practices for securing payment card data In just five years, criminal attacks on healthcare organizations are up by a stunning 125%. 1 Why are these data breaches happening?

More information

YOUR CITY/MUNICIPALITY

YOUR CITY/MUNICIPALITY The Red Flags Rule What Companies Need to Know About Complying with the New Privacy Laws for Fighting Identity Theft Is YOUR CITY/MUNICIPALITY In Compliance FACTA / GLB Safeguard Rule / The RED FLAGS RULE?

More information

Privacy Legislation and Industry Security Standards

Privacy Legislation and Industry Security Standards Privacy Legislation and Issue No. 3 01010101 01010101 01010101 Information is generated about and collected from individuals at an unprecedented rate in the ordinary course of business. In most cases,

More information

Don t Be a Victim to Data Breach Risks Protecting Your Organization From Data Breach and Privacy Risks

Don t Be a Victim to Data Breach Risks Protecting Your Organization From Data Breach and Privacy Risks Don t Be a Victim to Data Breach Risks Protecting Your Organization From Data Breach and Privacy Risks Thank you for joining us. We have a great many participants in today s call. Your phone is currently

More information

Mitigating and managing cyber risk: ten issues to consider

Mitigating and managing cyber risk: ten issues to consider Mitigating and managing cyber risk: ten issues to consider The board of directors is responsible for managing and mitigating risk exposure. A recent study conducted by the Ponemon Institute 1 revealed

More information

Cybersecurity: Protecting Your Business. March 11, 2015

Cybersecurity: Protecting Your Business. March 11, 2015 Cybersecurity: Protecting Your Business March 11, 2015 Grant Thornton. All LLP. rights All reserved. rights reserved. Agenda Introductions Presenters Cybersecurity Cybersecurity Trends Cybersecurity Attacks

More information

CYBER EXPOSURES OF SMALL AND MIDSIZE BUSINESSES A DIGITAL PANDEMIC. October 2014. Sponsored by:

CYBER EXPOSURES OF SMALL AND MIDSIZE BUSINESSES A DIGITAL PANDEMIC. October 2014. Sponsored by: CYBER EXPOSURES OF SMALL AND MIDSIZE BUSINESSES A DIGITAL PANDEMIC October 2014 Cyber Exposures of Small and Midsize Businesses A digital pandemic Executive Summary Gone are the days when data breaches,

More information

Insulate Your Company from a Cyber Breach: Proactive Steps to Minimize Breach Risks & Impact. February 10, 2015

Insulate Your Company from a Cyber Breach: Proactive Steps to Minimize Breach Risks & Impact. February 10, 2015 Insulate Your Company from a Cyber Breach: Proactive Steps to Minimize Breach Risks & Impact February 10, 2015 Overview 1 The Legal Risks And Issues/The Role Of Legal Counsel: The Breach Coach The Slippery

More information

Internet Gaming: The New Face of Cyber Liability. Presented by John M. Link, CPCU Cottingham & Butler

Internet Gaming: The New Face of Cyber Liability. Presented by John M. Link, CPCU Cottingham & Butler Internet Gaming: The New Face of Cyber Liability Presented by John M. Link, CPCU Cottingham & Butler 1 Presenter John M. Link, Vice President jlink@cottinghambutler.com 2 What s at Risk? $300 billion in

More information

RISKY BUSINESS SEMINAR CYBER LIABILITY DISCUSSION

RISKY BUSINESS SEMINAR CYBER LIABILITY DISCUSSION RISKY BUSINESS SEMINAR CYBER LIABILITY DISCUSSION October 23, 2015 THREAT ENVIRONMENT Growing incentive for insiders to abuse access to sensitive data for financial gain Disgruntled current and former

More information

Cybersecurity. Are you prepared?

Cybersecurity. Are you prepared? Cybersecurity Are you prepared? First Cash, then your customer, now YOU! What is Cybersecurity? The body of technologies, processes, practices designed to protect networks, computers, programs, and data

More information

Cyber/ Network Security. FINEX Global

Cyber/ Network Security. FINEX Global Cyber/ Network Security FINEX Global ABOUT US >> We are one of the largest insurance brokers in the world >> We have over 180 years of history and experience in insurance; we currently operate in over

More information

Cyber Risks Management. Nikos Georgopoulos, MBA, cyrm Cyber Risks Advisor

Cyber Risks Management. Nikos Georgopoulos, MBA, cyrm Cyber Risks Advisor Cyber Risks Management Nikos Georgopoulos, MBA, cyrm Cyber Risks Advisor 1 Contents Corporate Assets Data Breach Costs Time from Earliest Evidence of Compromise to Discovery of Compromise The Data Protection

More information

Aftermath of a Data Breach Study

Aftermath of a Data Breach Study Aftermath of a Data Breach Study Sponsored by Experian Data Breach Resolution Independently conducted by Ponemon Institute LLC Publication Date: January 2012 Ponemon Institute Research Report Aftermath

More information

DATA BREACHES: WHEN COMPLIANCE IS NOT ENOUGH

DATA BREACHES: WHEN COMPLIANCE IS NOT ENOUGH DATA BREACHES: WHEN COMPLIANCE IS NOT ENOUGH Andy Watson Grant Thornton LLP. All rights reserved. CYBERSECURITY 2 SURVEY OF CHIEF AUDIT EXECUTIVES (CAEs) GRANT THORNTON'S 2014 CAE SURVEY Data privacy and

More information

Beazley presentation master

Beazley presentation master The Art of Breach Management Beazley presentation master February 2008 A Brief Review of Data Breaches What is a Data Breach? Actual release or disclosure of information to an unauthorized individual/entity

More information

Report on CAP Cybersecurity November 5, 2015

Report on CAP Cybersecurity November 5, 2015 Agenda Number 7. Report on CAP Cybersecurity November 5, 2015 Phil Cook CISSP, CISM Manager, Information Technologies Risk #1 External Attacks PR 81 Protect and secure CAP's Information Technology assets

More information

2015 PIAA Corporate Counsel Workshop October 22 23, 2015 Considerations in Cyber Liability Coverage

2015 PIAA Corporate Counsel Workshop October 22 23, 2015 Considerations in Cyber Liability Coverage 2015 PIAA Corporate Counsel Workshop October 22 23, 2015 Considerations in Cyber Liability Coverage Chris Reese Vice President, Director of Underwriting Connie Rivas Asst. Vice President, Contracts and

More information

Data Breach and Cybersecurity: What Happens If You or Your Vendor Is Hacked

Data Breach and Cybersecurity: What Happens If You or Your Vendor Is Hacked Data Breach and Cybersecurity: What Happens If You or Your Vendor Is Hacked Linda Vincent, R.N., P.I., CITRMS Vincent & Associates Founder The Identity Advocate San Pedro, California The opinions expressed

More information

The Growing Threat of Medical Identity Fraud: A Call to Action. Presented by: Bill Barr, Development Coordinator, MIFA

The Growing Threat of Medical Identity Fraud: A Call to Action. Presented by: Bill Barr, Development Coordinator, MIFA The Growing Threat of Medical Identity Fraud: A Call to Action Presented by: Bill Barr, Development Coordinator, MIFA Agenda Review the challenge and cost of medical identity theft and resulting fraud

More information

CYBERSECURITY IN HEALTHCARE: A TIME TO ACT

CYBERSECURITY IN HEALTHCARE: A TIME TO ACT share: TM CYBERSECURITY IN HEALTHCARE: A TIME TO ACT Why healthcare is especially vulnerable to cyberattacks, and how it can protect data and mitigate risk At a time of well-publicized incidents of cybersecurity

More information

Cybersecurity: Emerging Legal Risks

Cybersecurity: Emerging Legal Risks Cybersecurity: Emerging Legal Risks Data Breach Cyber Liability Seminar April 17, 2015 By: Tsutomu L. Johnson tj@scmlaw.com Overview of 2014 Data Breaches: JP Morgan, Home Depot, P.F. Chang s, Healthcare.gov,

More information

9/13/2011. Miscellaneous Current Topics in Healthcare Professional Liability. Antitrust Notice. Table of Contents. Cyber Liability.

9/13/2011. Miscellaneous Current Topics in Healthcare Professional Liability. Antitrust Notice. Table of Contents. Cyber Liability. Miscellaneous Current Topics in Healthcare Professional Liability Josh Zirin, FCAS, MAAA Antitrust Notice The Casualty Actuarial Society is committed to adhering strictly to the letter and spirit of the

More information

Cyber Security for your Connected Health Device

Cyber Security for your Connected Health Device Cyber Security for your Connected Health Device Agenda Cyber Security Emerging Threats Implications to Healthcare Healthcare Response OpenSky s timeline Service Evolution Launch IT Optimization 2014 Geographic

More information

A Proposal of Employee Benefits. Innovations in IDENTITY THEFT

A Proposal of Employee Benefits. Innovations in IDENTITY THEFT A of Employee Benefits Innovations in IDENTITY THEFT Innovations in IDENTITY THEFT Name or Logo 2 Innovations in IDENTITY THEFT A Complete Identity Theft Solution Prevention to Prosecution Solution

More information

Cyberprivacy and Cybersecurity for Health Data

Cyberprivacy and Cybersecurity for Health Data Experience the commitment Cyberprivacy and Cybersecurity for Health Data Building confidence in health systems Providing better health care quality at lower cost will be the key aim of all health economies

More information

Privacy Liability & Data Breach Management Nikos Georgopoulos Cyber Risks Advisor cyrm October 2014

Privacy Liability & Data Breach Management Nikos Georgopoulos Cyber Risks Advisor cyrm October 2014 Privacy Liability & Data Breach Management Nikos Georgopoulos Cyber Risks Advisor cyrm October 2014 Nikos Georgopoulos Privacy Liability & Data Breach Management wwww.privacyrisksadvisors.com October 2014

More information

Trust 9/10/2015. Why Does Privacy and Security Matter? Who Must Comply with HIPAA Rules? HIPAA Breaches, Security Risk Analysis, and Audits

Trust 9/10/2015. Why Does Privacy and Security Matter? Who Must Comply with HIPAA Rules? HIPAA Breaches, Security Risk Analysis, and Audits HIPAA Breaches, Security Risk Analysis, and Audits Derrick Hill Senior Health IT Advisor Kentucky REC Why Does Privacy and Security Matter? Trust Who Must Comply with HIPAA Rules? Covered Entities (CE)

More information

CYBERSECURITY: Is Your Business Ready?

CYBERSECURITY: Is Your Business Ready? CYBERSECURITY: Is Your Business Ready? Cybersecurity: Is your business ready? Cyber risk is just like any other corporate risk and it must be managed from the top. An organization will spend time monitoring

More information

Data Security Incident Response Plan. [Insert Organization Name]

Data Security Incident Response Plan. [Insert Organization Name] Data Security Incident Response Plan Dated: [Month] & [Year] [Insert Organization Name] 1 Introduction Purpose This data security incident response plan provides the framework to respond to a security

More information

Identity Theft Security and Compliance: Issues for Business

Identity Theft Security and Compliance: Issues for Business Identity Theft Security and Compliance: Issues for Business The Facts Six Common Uses for Stolen Information Financial Criminal Medical DMV Social Security Terrorist The Facts A Chronology of Data Breaches

More information

CYBER RISK SECURITY, NETWORK & PRIVACY

CYBER RISK SECURITY, NETWORK & PRIVACY CYBER RISK SECURITY, NETWORK & PRIVACY CYBER SECURITY, NETWORK & PRIVACY In the ever-evolving technological landscape in which we live, our lives are dominated by technology. The development and widespread

More information

Brief. The BakerHostetler Data Security Incident Response Report 2015

Brief. The BakerHostetler Data Security Incident Response Report 2015 Brief The BakerHostetler Data Security Incident Response Report 2015 The rate of disclosures of security incidents in 2015 continues at a pace that caused many to call 2013 and then 2014 the year of the

More information

AN INFORMATION GOVERNANCE BEST

AN INFORMATION GOVERNANCE BEST SMALL BUSINESS ID THEFT AND FRAUD AN INFORMATION GOVERNANCE BEST PRACTICES GUIDE FOR SMALL BUSINESS IT IS NOT A MATTER OF IF BUT WHEN AN INTRUSION WILL BE ATTEMPTED ON YOUR BUSINESS COMPUTER SYSTEM IN

More information

VENDOR MANAGEMENT. General Overview

VENDOR MANAGEMENT. General Overview VENDOR MANAGEMENT General Overview With many organizations outsourcing services to other third-party entities, the issue of vendor management has become a noted topic in today s business world. Vendor

More information

HIPPA Goes HITECH. Data Protection for Agents

HIPPA Goes HITECH. Data Protection for Agents HIPPA Goes HITECH Data Protection for Agents For agent information only. this material should not be distributed to the public or used in any solicitation. 13-0127 Course objectives Agents will be able

More information

$194 per record lost* 3/15/2013. Global Economic Crime Survey. Data Breach Costs. David Childers, CEO Compli Vivek Krishnamurthy, Foley Hoag LLP

$194 per record lost* 3/15/2013. Global Economic Crime Survey. Data Breach Costs. David Childers, CEO Compli Vivek Krishnamurthy, Foley Hoag LLP David Childers, CEO Compli Vivek Krishnamurthy, Foley Hoag LLP Global Economic Crime Survey Global Cyber Crime is the fastest growing economic crime Cyber Crime is more lucrative than trafficking drugs!

More information

Implementing Electronic Medical Records (EMR): Mitigate Security Risks and Create Peace of Mind

Implementing Electronic Medical Records (EMR): Mitigate Security Risks and Create Peace of Mind Page1 Implementing Electronic Medical Records (EMR): Mitigate Security Risks and Create Peace of Mind The use of electronic medical records (EMRs) to maintain patient information is encouraged today and

More information

Cyber Risk: Global Warning? by Cinzia Altomare, Gen Re

Cyber Risk: Global Warning? by Cinzia Altomare, Gen Re Cyber Risk: Global Warning? by Cinzia Altomare, Gen Re Global Warning It is a matter of time before there is a major cyber attackon the global financial system and the public needs to invest heavily in

More information

Data Security: Risks, Compliance and How to be Prepared for a Breach

Data Security: Risks, Compliance and How to be Prepared for a Breach Data Security: Risks, Compliance and How to be Prepared for a Breach Presented by: Sandy B. Garfinkel, Esq. The Data Breach Reality: 2015 AshleyMadison.com (July 2015) Member site facilitating personal

More information

Beyond Data Breach: Cyber Trends and Exposures

Beyond Data Breach: Cyber Trends and Exposures Beyond Data Breach: Cyber Trends and Exposures Vietnam 7 th May 2015 Jason Kelly Head of Asia Financial Lines AIG Agenda Why do companies need cyber protection Example of Cyber attack worldwide and in

More information

Checklist for HIPAA/HITECH Compliance Best Practices for Healthcare Information Security

Checklist for HIPAA/HITECH Compliance Best Practices for Healthcare Information Security Checklist for HIPAA/HITECH Compliance Best Practices for Healthcare Information Security Ali Pabrai, MSEE, CISSP (ISSMP, ISSAP) For Daily Compliance & Security Tips, Follow ecfirst @ Agenda Review the

More information

Privacy Liability & Data Breach Management Nikos Georgopoulos 1 st Athens Privacy & Data Breach Management Conference

Privacy Liability & Data Breach Management Nikos Georgopoulos 1 st Athens Privacy & Data Breach Management Conference Privacy Liability & Data Breach Management Nikos Georgopoulos 1 st Athens Privacy & Data Breach Management Conference N.G. Privacy Liability Insurance Presentation to Athens 1 st Privacy & Data Breach

More information

Jefferson Glassie, FASAE Whiteford, Taylor & Preston

Jefferson Glassie, FASAE Whiteford, Taylor & Preston Jefferson Glassie, FASAE Whiteford, Taylor & Preston 2 * 3 PII = An individuals first name and last name or first initial and last name in combination with any one or more of the following data elements

More information

The Age of Data Breaches:

The Age of Data Breaches: The Age of Data Breaches: HOW TO AVOID BEING THE NEXT HEADLINE MARCH 24, 2015 2015 Epstein Becker & Green, P.C. All Rights Reserved. ebglaw.com This presentation has been provided for informational purposes

More information

Cyber Security Protecting critical health care information

Cyber Security Protecting critical health care information OnTrend APRIL 2016 ISSUE Cyber Security Protecting critical health care information The trend Cyber Security As health care data security breaches proliferate, putting members data at risk for fraud or

More information

Discussion on Network Security & Privacy Liability Exposures and Insurance

Discussion on Network Security & Privacy Liability Exposures and Insurance Discussion on Network Security & Privacy Liability Exposures and Insurance Presented By: Kevin Violette Errors & Omissions Senior Broker, R.T. Specialty, LLC February, 25 2014 HFMA Washington-Alaska Chapter

More information

Finding a Cure for Medical Identity Theft

Finding a Cure for Medical Identity Theft Finding a Cure for Medical Identity Theft A look at the rise of medical identity theft and what small healthcare organizations are doing to address threats October 2014 www.csid.com TABLE OF CONTENTS SUMMARY

More information

Presentation for : The New England Board of Higher Education. Hot Topics in IT Security and Data Privacy

Presentation for : The New England Board of Higher Education. Hot Topics in IT Security and Data Privacy Presentation for : The New England Board of Higher Education Hot Topics in IT Security and Data Privacy October 22, 2010 Rocco Grillo, CISSP Managing Director Protiviti Inc. Quote of the Day "It takes

More information

Best Practices for a Healthcare Data Breach: What You Don t Know Will Cost You

Best Practices for a Healthcare Data Breach: What You Don t Know Will Cost You Best Practices for a Healthcare Data Breach: What You Don t Know Will Cost You By: Emilio Cividanes, Venable LLP Partner and Co-Chair Regulatory Practice Group Paul Luehr, Stroz Friedberg Managing Director

More information

BUSINESS ASSOCIATE AGREEMENT. Business Associate. Business Associate shall mean.

BUSINESS ASSOCIATE AGREEMENT. Business Associate. Business Associate shall mean. BUSINESS ASSOCIATE AGREEMENT This Business Associate Agreement is made as of the day of, 2010, by and between Methodist Lebonheur Healthcare, on behalf of itself and all of its affiliates ( Covered Entity

More information

Information Security Handbook

Information Security Handbook Information Security Handbook Adopted 6/4/14 Page 0 Page 1 1. Introduction... 5 1.1. Executive Summary... 5 1.2. Governance... 5 1.3. Scope and Application... 5 1.4. Biennial Review... 5 2. Definitions...

More information

Cybersecurity y Managing g the Risks

Cybersecurity y Managing g the Risks Cybersecurity y Managing g the Risks Presented by: Steven L. Caponi Jennifer Daniels Gregory F. Linsin 99 Cybersecurity The Risks Are Real Perpetrators are as varied as their goals Organized Crime: seeking

More information

Pristine Technology Solutions, Inc.

Pristine Technology Solutions, Inc. Pristine Technology Solutions, Inc. 25 Measures 1. CPOE for Medication Orders 2. Drug Interaction Checks Drug-Drug/Allergy 3. Maintain Problem List 4. Permissible Prescriptions - eprescribing 5. Active

More information

Bridging the HIPAA/HITECH Compliance Gap

Bridging the HIPAA/HITECH Compliance Gap CyberSheath Healthcare Compliance Paper www.cybersheath.com -65 Bridging the HIPAA/HITECH Compliance Gap Security insights that help covered entities and business associates achieve compliance According

More information

2009 HIMSS Analytics Report: Evaluating HITECH s Impact on Healthcare Privacy and Security

2009 HIMSS Analytics Report: Evaluating HITECH s Impact on Healthcare Privacy and Security 2009 HIMSS Analytics Report: Evaluating HITECH s Impact on Healthcare Privacy and Security Commissioned by ID Experts November 2009 INTRODUCTION Healthcare breaches are on the rise; according to the 2009

More information

Standard: Information Security Incident Management

Standard: Information Security Incident Management Standard: Information Security Incident Management Page 1 Executive Summary California State University Information Security Policy 8075.00 states security incidents involving loss, damage or misuse of

More information

Cyber-Security Risk- IP Theft and Data Breaches Protecting your Crown Jewels Internally and with Your Key Third Parties

Cyber-Security Risk- IP Theft and Data Breaches Protecting your Crown Jewels Internally and with Your Key Third Parties Cyber-Security Risk- IP Theft and Data Breaches Protecting your Crown Jewels Internally and with Your Key Third Parties Pamela Passman President and CEO Center for Responsible Enterprise And Trade (CREATe.org)

More information

Medical Information Breaches: Are Your Records Safe?

Medical Information Breaches: Are Your Records Safe? Medical Information Breaches: Are Your Records Safe? Learning Objectives At the conclusion of this presentation the learner will be able to: Recognize the growing risk of data breaches Assess the potential

More information

cyber invasions cyber risk insurance AFP Exchange

cyber invasions cyber risk insurance AFP Exchange Cyber Risk With cyber invasions now a common place occurrence, insurance coverage isn t found in your liability policy. So many different types of computer invasions exist, but there is cyber risk insurance

More information

CYBERSECURITY FRAUD LOSS ISSUES & HOW TO ADDRESS RISKS IN TODAY'S INSURANCE MARKETPLACE 12/16/2015. December 17, 2015

CYBERSECURITY FRAUD LOSS ISSUES & HOW TO ADDRESS RISKS IN TODAY'S INSURANCE MARKETPLACE 12/16/2015. December 17, 2015 12/16/2015 CYBERSECURITY FRAUD LOSS ISSUES & HOW TO ADDRESS RISKS IN TODAY'S INSURANCE MARKETPLACE December 17, 2015 Angela R. Morelock, CPA, CFE, CFF, ABV Partner, BKD, LLP amorelock@bkd.com Jeff Eiserman

More information

The New Normal Healthcare s New Threat Profile. Matthew Sadler National Director, Healthcare Cyber Security KPMG November 2015

The New Normal Healthcare s New Threat Profile. Matthew Sadler National Director, Healthcare Cyber Security KPMG November 2015 The New Normal Healthcare s New Threat Profile Matthew Sadler National Director, Healthcare Cyber Security KPMG November 2015 Recent Events Cybercriminals Today Cyber Threats Why Are We Such a Big Target?

More information

Fraud Prevention Checklist for Small Businesses

Fraud Prevention Checklist for Small Businesses Fraud Prevention Checklist for Small Businesses 11 Ways to Minimize the Risk and Impact PAYMENT SOLUTIONS Fraud can have a devastating impact on small businesses. Prevention and mitigation strategies can

More information

Practical Cyber Law: Why the Standard of Care Requires Lawyers to Have a Basic Understanding of Cyber Insurance

Practical Cyber Law: Why the Standard of Care Requires Lawyers to Have a Basic Understanding of Cyber Insurance Practical Cyber Law: Why the Standard of Care Requires Lawyers to Have a Basic Understanding of Cyber Insurance By Shawn Tuma & Katti Smith Data breaches have become far more common than most people realize.

More information