You’re awakened when your cellphone starts ringing on your bedside table. The clock says its 3 a.m. You answer, and a panicked voice on the other end stammers, “We’ve had a data breach.” You jump up in a cold sweat and realize it was only a nightmare, but your night is ruined and your sleep is lost. In light of recent headline-making events, however, it could always be worse: more and more executives are seeing this nightmare come true.
One way organizations can protect against the risks and costs associated with a data breach—and hopefully lessen the frequency of executive nightmares—is to obtain cyberinsurance. It can be an invaluable tool in the event of a breach and should be considered as a part of an organization’s risk management program.
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