This toolkit is prepared for circumstances when your small business has been hacked. We provide you with specific information regarding cybersecurity insurance, and also an overview of information on regulations regarding data breaches. If more details are needed, please seek legal advice.
Cybersecurity insurance is set to deal with offsetting the cost involved with recovery after a cyberattack or breach. Premium covers fees of: investigation, business losses, privacy and notification, as well as lawsuits and extortion. The article will also give tips about how to choose the right cybersecurity insurance policy for your business.
Data Breach Regulations
Small businesses involving credit card transmission should pay attention to PCI DSS (Payment Card Industry Data Security Standards) compliance, which is the security standards from card brands. Violating PCI DSS compliance can result in huge fines ranging from $5,000 to $100,000 per month. If a data breach does occur with your business, there are more than a few ways it can hurt your business. For example, data breaches usually result in having to pay both monetary and non-monetary costs for your business to recover. The article also gives you a brief look at data breach laws in California, as well as data laws pertaining to medical information if your business involves personal health information. If more details are needed, please seek legal advice.