BUSINESS RISK MITIGATION SERVICES

THE CYBER CHALLENGE

Surveys indicate that 85% of small and medium

businesses with a formal data security policy have

experienced an information breach. The cost of a

data breach includes legal expenses, forensic

fees, lost customers, reputation management,

and the notification process. Unfortunately,

actual costs extend beyond the dollars spent to

address the incident: 31% of breach notification

recipients terminate their relationship with the

organization, 59% of breached companies were

embroiled in subsequent litigation, 33% faced

potential regulatory fines, and 32% experienced a

decline in share value.

PROTECTING COMPANIES FROM THE

CALAMITOUS RISKS OF A DATA COMPROMISE

Breach specialists assess the nature of the

suspected incident and recommend a

suitable response based on laws and

compliance requirements.

Notification recipients are entitled to

unlimited access to a personal advocate

who will assist with fraud resolution,

proactive fraud alerts, credit bureau

authentication, and answer questions.

Additional components include favorably

priced monitoring products, media and

agency interaction, and secure websites

to augment the notification process.

MERCHANTS ▪ BUSINESSES ▪ HEALTH CARE PROVIDERS

AFFORDABLE SOLUTIONS TO CONFRONT

COSTLY BUSINESS CHALLENGES

Risk Mitigation

BEST PRACTICES

Businesses are considered negligent if they have

no 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. Businesses

seeking best practices, implement a breach

response plan prior to an 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.

Information Breach Response Bankers Insurance Group

Data Breach

INCIDENT RESPONSE

EPL and EBL

ENHANCEMENTS

Merchant Chargeback

RESOLUTION

Comprehensive Data Breach Program

Bankers Insurance Group now provides businesses an Incident Response Plan to implement prior to a breach event. This

comprehensive program includes an appropriate response and addresses issues businesses confront during a breach. The

Information Breach Response Program is an effective and trusted source for businesses to rely upon to mitigate such risks.

Assessment and preparation of an appropriate breach response

If a company suspects a breach, they should contact Bankers Insurance Group immediately to be connected to our

fraud resolution center. A specialist will work closely with the company to assess the nature of the incident and activate

a suitable response. Considerations include: applicable state and federal laws; the extent and nature of breached

information; and immediate compliance requirements. Our data breach specialists will assist with the preparation of a

compliant notification letter which constitutes the company’s first goodwill action to its 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, enrollment 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 manager will interact with media and create an action plan to counteract negative public reaction. These

experts will also interface with credit bureaus, regulatory 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.

ISI BUSINESS TOUCHPOINT SERVICES

Information Breach Response Program

FMI

Information Breach Response Bankers Insurance Group

MERCHANTS ▪ BUSINESSES ▪ HEALTH CARE PROVIDERS

Risk Mitigation

BUSINESS RISK MITIGATION SERVICES

Bankers Insurance Group

903.390.0866