As the facts emerge, one thing is becoming clear – a data breach is a serious issue every small business needs to understand and plan for.

Data Breach Defined – Loss, theft, accidental release or accidental publication of Personally Identifiable Information (PII) and Protected Health Information (PHI) including: Social security number, bank account number, credit or debit card numbers, driver’s license number, patient history and medications.

How a Breach Can Occur – Stolen or lost paper and electronic files; stolen or lost laptop, smartphone, tablet or computer disks; stolen credit card information; employee error or oversight; theft or release due to unauthorized access (such as by former employees or vendors); hacking.

Who Needs Data Breach Coverage – Any business, small or large, that handles or stores any private customer, patient or employee data is at risk. Businesses such as healthcare practices, law offices, accounting offices, retailers, restaurants or financial services are at a higher risk for a data breach because of the quantity and type of sensitive information they handle and store.

How Data Breach Insurance Can Help – Offers time-saving professional services to help quickly restore your business’ reputation, guide you in handling a breach and assistance with regulatory compliance Covers response expenses, including mailing notification letters, credit monitoring services and public relations Provides coverage for defense and liability expenses in the event you’re sued because of a breach.