Greg Orcutt

 

Orcutt & Company, CPA

936 State Route 28, Milford, OH 45150

 

Phone:  513-576-1989 

 

Email: greg@orcuttfinancial.com

September 2020

Data Breaches

Insights and Tips

Industry studies show that data breaches cost small to medium businesses an average of $200,000.* These costs include customer notification, fines, investigation costs, defense attorney fees and the expense of providing affected individuals with a year of identity theft monitoring services after the breach.


Protect Your Business

  • Provide data security training to all employees;

  • Run automatic network virus scans and antivirus software updates;

  • Download the latest operating system and software updates and patches;

  • Purchase data breach insurance and consider cyber liability insurance and technology errors and omissions policies;

  • Purchase umbrella liability coverage as a backstop for data breach insurance and other insurance policies. Umbrella coverage kicks in when the claim is greater than your primary insurance coverage limits and is generally very affordable.


*Hiscox Cyber Readiness Report 2019.


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