Legal experts predict that the next wave of litigation against businesses may involve cybersecurity and the failure of businesses to implement pragmatic protections to avoid or minimize the theft of confidential customer information. While insurance may be available to cover some of these losses, the risks to your business and its reputation could be is substantial.
While nothing provides immunity from liability, these pragmatic steps could decrease your liability exposure:
- Assess what data you collect and where it is
- Make educated decisions about what data to collect and/or retain.
- Understand how you use and share the data you collect and
- Assess the locations where sensitive data is stored and your network’s
- Restrict access to sensitive data to those employees and agents who need to
- Require secure authentication passwords with frequent changes for
- Monitor your data storage and collection network for breaches or
- Assess your vendors’ and service providers’ data protection policies and
- Draft written privacy and data destruction policies tailored to your
- Communicate that policy to the right
- Know where to channel consumer complaints and have a plan to deal with
- Ensure that security vendors are qualified to provide consulting
- Regularly review your efforts and methods to personal
- Monitor the legal requirements applicable to your business regarding choice and opt
- Stay current with government, industry and association
- Know what your current insurance policy requires and
- Develop an incident response plan to address any
The lawyers at Brooks, Tarulis & Tibble, LLC have addressed many of these issues for clients, and worked with other professionals who address them on a frequent basis. If you have any questions or we can assist you in this regard, please contact us.