Today, every organization uses technology as a means of delivering its products and services to the world. Technology continues to transform the business world – and bring new exposures as well. Impacted companies include those in the technology, retail, healthcare, financial institutions, education, government and professional services industries.
Most likely, your company stores and handles sensitive personal information on employees, customers, students and others. Today, it’s easier than ever for that information to be transported, stolen or simply lost.
You have to share sensitive corporate information with third party organizations to conduct business. Nondisclosure or confidentiality agreements provide some protection, but failure to comply with them can expose you to losses.
Failure of Network Security
Without a functional network, chances are you can’t deliver your products or services. If your network goes down due to unauthorized access or a security attack your ability to conduct business can fail and lead to liability.
Regulatory requirements now mean that any security breach you face must be disclosed, which can result in lost customer confidence and potential additional exposures.
It’s harder than ever to stay compliant with the growing number of state, federal and foreign privacy regulations. Make sure your organization is prepared for the financial burdens that can arise from a regulatory proceeding.
So much of your business’s information is online – and still subject to all the risks of traditional media, such as trademark infringement, libel and plagiarism.
The interactive nature of social media can be a huge boon to business, but it also opens the door to new reputational, legal, and operational risks.
Extortion & Business Interruption
If the wrong person finds a vulnerability in your network security you may soon face an extortion attempt as the hacker tries to monetize their find, threatens to release sensitive information, or disrupts your business with a denial of service attack
Damage to Digital Assets
Securing your business’ future means safeguarding the strategic plans housed in your network. Disgruntled employees or hackers can do untold damage by destroying those files. Even if IT recovers the information, how much might it cost in the long run?
Third Party Vendors
If you entrust outside contractors to handle sensitive data, such as employee benefit firms, consultants and call centers you could face liability from any privacy breach suffered by the third party.
Like any other professional service, if you offer technology services, you can face exposure from professional liability claims arising from a claimed error or omission
Impacted companies include those in the technology, retail, healthcare, financial institutions, education, government and professional services industries.