The truth of the matter is that every second - yes, one second - 62 records are lost or stolen. That adds up to 5,314,869 records lost or stolen every single day. With the costs associated with an Internal Investigation, Notification/ Crisis Management, and Regulatory/Compliance, the average cost of a breach of just 1,000 records is about $120,888, and that's not even taking into account the lost employee wages spent on the crisis itself. $120,888, and that's only for a breach of 1,000 records.
TOTAL RECORDS LOST BY MONTH
7,098,166,175 Total Records Lost
DATA RECORDS STOLEN OR LOST BY INDUSTRY
Industry Breach Details
The healthcare industry was the hardest hit during the year in terms of the number of data breaches, accounting for more than one quarter (27.5%) of all breaches. Healthcare organizations experienced 493 breaches, compared with 445 in 2015, for an increase of 10.8%. The public sector experienced the opposite of what the healthcare industry did, with breaches down from the year before and records up. Agencies and other government entities had 269 breaches in 2016, down 9.4% from the previous year and accounting for 15% of the total.
Over 3/4 Of Security Breaches Are Due To Human Error - Is Your Company Potentially Liable
As digitizing information has become the standard, protecting yourself from these kinds of vulnerabilities has become harder to do. A computer-savvy hacker circumventing your network security isn't necessarily the reason for your susceptibility either. Human error accounts for 76% of security breaches, and only about 24% of all breaches are due to malicious attack. This means that more than three quarters of the time our own people are responsible for the leaking of sensitive information.
62 Records Are Stolen Every Second - Over 5 Million Each Day - Are You Liable In A Cyber Security Breach?
We have grown too comfortable with this technology and have developed a false sense of security, desensitized by the technological world around us. The truth of the matter is that every second - yes, one second - 62 records are lost or stolen. That adds up to 5,314,869 records lost or stolen every single day. With the costs associated with an Internal Investigation, Notification/ Crisis Management, and Regulatory/Compliance, the average cost of a breach of just 1,000 records is about $120,888, and that's not even taking into account the lost employee wages spent on the crisis itself. $120,888, and that's only for a breach of 1,000 records. If you're a smaller business, that can be absolutely devastating.
These statistics don't discriminate against smaller businesses versus larger ones. Everyone is at risk. So what do you do to protect yourself?
The Package Group Offers A Variety Of Cyber Liability Insurance Policies - We'll Help Mitigate Your Risk
The Package Group is an insurance agency that provides a Cyber Insurance liability policy that protects your business in the event of a breach resulting in the disclosure of client or employee personal information, credit card information, health forms, or customer data. With industry experts in Cyber Liability, including Privacy/Unauthorized Access/Breach of Data/Hackers, that will provide you with personalized marketing programs, The Package Group has the proven ability to get better results from markets you may already have. In addition they have an incredible turnaround rate of one day, so within a day you could have discovered the breach and have it sorted out without the hassle.
Contact Us Today - BEFORE It Happens! - The Package Group - Cyber Liability Insurance
These breaches in security and sensitive information are inevitable. Whether or not you are protected against these susceptibilities is entirely in your hands. With a variety of options for coverage, you can keep your business and your employees protected. Don't put your company at risk. Get peace of mind; contact The Package Group today.