Cyber risk in focus in Business Insurance webinar

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Cyber breaches are on the rise, and they present a greater financial and reputational risk to companies, experts say.

In the Business Insurance webinar, “Cyber Security: Tips to Identify, Prevent and Mitigate Threats to Private Data,” Alan E. Brill, the senior managing director of secure information services at Kroll Ontrack Inc., and Larry Collins, managing director and head of e-Solutions at Zurich Services Corp., discuss how to approach cyber breach readiness before and after an incident.

The free, 60-minute webinar can be viewed on demand HERE.

Relying on statistics found in the March 19 and June 25 issues of Business Insurance, Mr. Collins tackled the importance of preventative measures, including educating employees about safe Web usage. He recommends employers protect the sensitive information they hold, such as employees’ addresses, Social Security numbers and bank account numbers. Breaches can result from people within the company unaware of how to handle a phishing scheme, former employees taking information with them after quitting and companies unaware of a data breach for months or even years after the initial incident.

Afterward, Mr. Brill discussed creating and implementing a response plan to a breach. He particularly stressed the importance of investigating a breach before reacting too quickly. In his first example, a hospital asked him to investigate a stolen laptop that contained 500,000 encrypted medical records.

Although the hospital was preparing to notify those who had their personal information stolen, Mr. Brill and his team discovered that the laptop was taken before the confidential information could be downloaded and no breach had taken place.

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