FMI

ENTERPRISE BREACH RESPONSE AND DATA PROTECTION

ENTERPRISE SOLUTIONS FROM

Bankers Insurance Group

PROTECT YOUR COMPANY FROM THE

CALAMITOUS EVENTS OF A DATA COMPROMISE

THE CYBER CHALLENGE

Recent studies indicate that 85% of small and

medium businesses with a formal IT department

and a data security policy have experienced some

form of information breach. Costs associated with

a data breach can be devastating, averaging $197

per compromised record. Costs include legal

expenses, forensic fees, lost customers, reputa-

tion management, and cost of the notification

process. Unfortunately, the actual cost extends

beyond the dollars spent to address the incident:

31% of the individuals included in a breach notifi-

cation will terminate their relationship with the

organization; 74% of breached companies lost

customers, 59% confronted potential litigation,

33% faced potential regulatory fines and actions,

and 32% experienced a decline in share value.

ENTERPRISE BREACH RESPONSE AND DATA PROTECTION FROM

Bankers Insurance Group

Bankers Insurance Group | PO Box 15707 ▪ St. Petersburg, FL 33733-5707 | 800-627-0000 | www.bankersinsurance.com

BEST PRACTICES

Companies seeking best practices, implement a

comprehensive response program prior to a

breach incident. In the event of a breach, the

program is quickly activated, conserving time and

money while preserving the company’s reputation

and regulatory standing. The complexities of

confronting a database compromise extend

beyond the capabilities of most businesses.

Courts have ruled that companies are negligent if

they have no information breach response

program in place prior to an incident. It is

imperative that companies have a trusted source

to address an information breach if they are to

mitigate contingent risks.

PROGRAM COMPONENTS

CONSULTING & ASSESSMENTS Breach specialists assess the nature of the suspected incident and recommend a suitable response based on laws and compliance requirements.

FRAUD SPECIAL IST ASS ISTANCE Notification recipients are entitled to unlimited access to a personal specialist who will assist with fraud resolution, proactive fraud alerts, credit bureau authentication, and are available to answer questions and concerns.

MO NITORING & INTERACTION Additional components include favorably priced monitoring products, media and agency interaction, and secure websites to augment the notification process.

CLOUD -BASED TRAINING Train your employees concerning prudent data handling techniques with the cloud-based learning management system integrated in your program.

Bankers Insurance Group

ENTERPRISE BREACH RESPONSE AND DATA PROTECTION

The cutting-edge LMS is a web based, secure platform that is available 24/7 from any web enabled device, including tablets and smart phones. Training and knowledge are the most effective measures to avoid a data breach.

Comprehensive Data Breach Program Bankers Insurance Group now provides its commercial policyholders an Incident Response Plan to implement prior to a breach incident. The pro-

gram contains an appropriate response and addresses the issues businesses face when confronting an event. The program also includes a highly

robust instructional platform which can be used to train your managers and employees regarding the prudent handling of sensitive information,

thereby mitigating the risk of a future data breach. Please review the program components discussed below.

Consulting and preparation of an appropriate breach response

If you suspect a breach, contact Bankers Insurance Group immediately to be connect-

ed to our fraud resolution center. A specialist will help assess the nature of the inci-

dent and activate a suitable response. Considerations include: applicable state laws;

the nature of breached information; and compliance requirements. Our data breach

specialists will assist with the preparation of a compliant notification letter which

constitutes your first goodwill action to customers.

Unlimited access to fraud specialists

Notified recipients benefit from unlimited access to a personal fraud specialist who

will respond to questions. The specialists will assist placing proactive alerts, enroll-

ment in monitoring services, review of credit reports, and resolving suspected fraud.

Distribution of monitoring products

Some events require that monitoring products be provided. Several packages for

gifting protective reports and monitoring services to the breached constituents are

available; all are institutionally priced.

Interaction with media, credit bureaus, and law enforcement

Our breach specialists will interact with media and create an action plan to counteract

negative public reaction. These experts will also interact with credit bureaus, regula-

tory bodies and law enforcement when appropriate.

Secure website to augment the notification process

A secure, web-based platform to assist with notification and authentication can be

deployed. The website allows customers preferring online interaction to access

breach information, enroll for credit products, and contact our fraud department.

Proactive training to mitigate the risk of an information security breach

Bankers Insurance Group’s Data Breach Program includes education and training

concerning appropriate data handling protocols. Delivered via a secure web-based

Learning Management System (“LMS”), this program component provides learning

modules that can be accessed by your employees.

The program includes instruction on preserving data security and helps companies to

develop internal protocols appropriate for their type of business. Topics covered in-

clude: who should have access to data, how to appropriately work with data, precau-

tions for transmitting data, appropriate destruction of data, and what constitutes a

data breach. The LMS allows for quizzing of employees, tracking of training and quiz

results, and periodic refresher sessions.

Highly experienced security breach specialists provide frontend advice and assessment of initial breach events.

Credit and public records monitoring products are available for gifted distribution at institutionally-priced rates.

Notification recipients have unlim-ited access to a personal fraud specialist who will answer questions and assist throughout the process including resolution of any identity-related issues.

Bankers Insurance Group | PO Box 15707 ▪ St. Petersburg, FL 33733-5707 | 800-627-0000 | www.bankersinsurance.com

ENTERPRISE BREACH RESPONSE AND DATA PROTECTION SERVICES