Key Liability Expense Exposures

The costs incurred from a single privacy event can become very expensive quickly, and if your current program does not cover security/privacy exposures, you may have to foot the entire bill. Some of these expenses may include:

  • Forensic expenses to determine if the event occurred and the extent of the breach
  • Notification expenses
    • Every state now has a regulation that requires notification to those individuals whose confidential information may have been compromised
    • Notification requirement is dictated by the affected person’s location, not the company’s location
    • Average cost to notify is $20 to $25 per person
  • Credit monitoring
  • Call centers
  • Identity restoration
  • Public relations expenses