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Employment Privacy Blog

News, commentary, and legal updates from attorneys in the Data Security and Workplace Privacy Practice Group at Fisher Phillips.

Due to the increasing number of successful and attempted cyber-attacks and increased government scrutiny surrounding protection of confidential information, companies cannot ignore the various risks associated with potential data breaches.  The result is that more and more companies are considering and purchasing cyber insurance.  Companies are increasingly recognizing that customer names, customer financial data, credit card information, social security numbers, passwords, employee information, medical information, confidential commercial information and intellectual property are all vulnerable to a data breach.  Some companies’ entire business model relies on the confidentiality of trade secrets or other propriety information, the compromise of which could cripple the business.  Loss or disclosure of this data can result in lost revenue and negative publicity.  Not surprisingly, more and more companies are buying cyber insurance to minimize or mitigate their risks.  But selecting the right policy can be tricky, especially given the relative newness of this line of coverage.     

As reported in the December 9, 2015 Wall Street Journal Law Blog, a recent report by the Association of Corporate Counsel ("ACC") revealed that the most common reason for a data breach at companies is "employee error." According to the report, which contained survey responses from over 1,000 in-house attorneys in 30 countries, 30% of the breaches this year resulted from employee error. Of course, this is not new news, but rather the most recent ...

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