Cyber attacks or data breach incidents seem to make headlines daily. Although these events may feel commonplace, their triggers are changing, as are the risk management strategies to address them. ACE has handled data breach incidents and underwritten exposures for policyholders for more than 15 years, and has cataloged a considerable amount of loss data.
A careful analysis of this proprietary data offers several key insights, including:
- A breakdown of the most prevalent data breach triggers, which shows that hacking may capture the headlines, but it’s only part of the problem
- The direct correlation between how triggers are changing and escalating forensics costs
- Core, tactical and cultural recommendations designed to help organizations not only prepare for a breach in advance, but also ready them to quickly address an incident when it occurs
What ACE has learned from past cyber incidents can help our insureds take steps to prevent or mitigate future ones. Understanding the threats and proactively taking action can help you protect your organization’s network, balance sheet and reputation.
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