Protect Your Business Data From Privacy and Cyber Threats

First, physical safeguards should be implemented such as procedures for securing paper information, transportation of information, data disposal, computer/server access, and vendor access policies. In customer areas, keep work areas clear of sensitive information to avoid being seen by wandering eyes.  Be sure to lock all information away at night.

Second, establish technical safeguards including procedures for equipment disposal, employee termination, use of the internet and company computers, mobile device/laptop/USB security, data retention, third-party service agreements, email security, and filtering.

Third, create administrative safeguards such as assigning who in the organization is responsible for the data security including reviewing, monitoring, and updating policies, and ensuring all employees are trained on your procedures and property security techniques.

Most standard commercial insurance policies do not cover privacy risks such as theft of digital assets, identity theft, the introduction of malware, human error leading to the disclosure of sensitive info, and costs associated with responding to a data breach. To cover such risks, businesses need to purchase a separate privacy and data breach liability policy. The types of coverage needed will vary depending on the business. Your insurance agent can assist you in reviewing exposures and provide options for protection.