I read in the newspaper this morning that Target is the latest victim of data breach. Apparently 40 million credit cards were comprised on black Friday. Fortunately, the CEO has released a statement that the issue has been resolved.
"We see breaches across all sizes of companies", said Michael Donovan, a Global Focus Group Leader for Beazley Breach Response. He goes onto to say, "You see the stories about the big ones in the news, but breaches are affecting companies all across the board".
The bottom line is, data breach is going to happen. As we have seen and heard from the experts, no company, large or small, is immune to it. We simply cannot prevent it, but what we can do is be prepared for when there is an attack. Adding data breach coverage is as easy as adding an endorsement to your current insurance policy in some cases. Call your agent or call us, if you have any questions or would like more information. Travelers and The Hartford have some really good products when it comes to cyber liability and data breach.
To read more about the Target data breach, you can click here.