Sony Motion Pictures, American Airlines 10,000 accounts frozen; who is next? The President announces this week that Federal regulation and legislation is needed. What does that mean for businesses? Well, as is current Minnesota law, any business who has theirs or their customer data / file information breached, will have to notify all customers affected and monitor their credit for 12 months. This is an expensive undertaking at business owner's expense, unless you have Cyber Liability Insurance. Very soon, if the President has his way, all businesses conducting business nationwide, regardless of which State, will have to meet Federal legislation and regulation. This means compliance will be mandatory by not only vendors or suppliers of businesses, but also businesses who supply or have contracts with the Federal Government or their agencies.
Does your business have Cyber Liability insurance in place to protect your bottom line? With the implementation of a few very simple, common everyday safety standards and practices, are what is required to get Cyber liability insurance. These are some good key questions that business owners should be asking and addressing now, before everyone else is forced to do so.
Be a step ahead of the crowd and protect your bottom line.