"It will never happen to me."
That is a dangerous mindset for small and medium-sized business owners to have, especially when it comes to sensitive information that is stored online. Computer systems have become commonplace in companies across all industries. Whether organizations use databases - virtual or physical storage - for customer information or otherwise, security measures are crucial.
However, the unexpected can still happen. Without the right technology insurance in place, businesses could be facing an expensive recovery process. There will be a downtime, as the company weeds out any viruses or breached security measures. If customers are upset about their information being exposed, an organization could face legal fees. Regardless, not thinking that it can happen at all will only prove to be detrimental.
For example, the First Lady of the United States and the director of the Federal Bureau of Investigations (F.B.I.) are thought of as being closely guarded at all times. Why would their personal information be any different. Yet, news sources are reporting that Michelle Obama and Robert Mueller are just two of many high-profile individuals whose Social Security numbers and other pieces of data have been compromised.
The F.B.I. and other U.S. agencies told Reuters that they are investigating a website that posted financial and personal information of celebrities and government officials. Credit monitoring firm Equifax said that some of the information was fraudulently obtained via a commonly used website for consumer credit reports.
Data protection plans are necessary for any business that uses computer systems or relies on digital storage. The assistance of commercial insurance specialists can help company owners find the best policy for their organization.