Before the data breaches at Anthem, Home Depot, Neiman Marcus, and Target, there was Sony. In 2011, the Sony Playstation Network was hacked resulting in the theft of customer data. Sony pushed to have their insurer, Zurich, cover the losses resulting from the data breach, but Zurich denied the claim. Sony had a general liability policy, but not a cyber liability policy with Zurich.
Businesses have all kinds of plans; marketing plans, strategic plans, safety plans, sales plans, production plans, staffing plans, and even cash management plans. But do you have a data breach plan? If we’ve learned anything over the past 7 months, data breaches do occur, and they seem to be occurring at a faster rate than ever before.
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