Dena Cusick of Wells Fargo Insurance’s Technology, Privacy & Network Security Practice Group helps clear up some of the confusion in an article, Decoding the Five Myths about Security and Data Breaches. The article tackles these myths:
- Network security and data privacy are only problems for large companies.
- You can afford to self-insure the risk.
- Insurance coverage is expensive and hard to get.
- Your general liability policy will cover you.
- Vendors who handle your sensitive information are responsible for a breach, not you.
Still on the fence about cyber insurance? Consider that 44 percent of companies surveyed by Wells Fargo in 2015 had filed claims under their policies. Read the results of the 2015 Cyber Security & Data Privacy Survey.
Wells Fargo is a sponsor of HB Litigation Conferences’ NetDiligence Cyber Risk & Privacy Liability Forum, June 7-8 in Philadelphia.