NASHVILLE, Tenn. (January 6, 2010)—“Information is the most radioactive element in today’s businesses,” says Steve Anderson of The Anderson Agency Report in his most recent business guide for independent insurance agencies, called Client Information Security.
Anderson’s report highlights that more than 88% of client data breach cases last year involved employee negligence and that 84% of cases involved organizations with more than one incident. The average total per-incident cost of a breach was nearly $6.7 million, including civil and regulatory penalties, administrative expenses and legal defense costs.
Insurance agencies of all sizes are treasure troves of personal client data, and they need to establish effective protective barriers and appropriate responses in case there is a breach. Client Information Security provides agency leaders with the information they need to identify and prioritize their vulnerabilities.
The report provides a walk through the agency’s “weak links,” including employee malpractices and negligence, theft of equipment, and external attacks, such as hacking. It aids the agency in categorizing what data to protect and gives more than 20 detailed steps on how to get a data-breach security plan up and running. Anderson provides a convenient, at-a-glance method for classifying risks and incidents in a graphic depiction that can be used to track, analyze and document compliance with a security plan.
Anderson gives insights into surprising areas of vulnerability, such as the problem of “reverse shredding” of documents, and how to foil hardcopy data thieves. He also goes into substantial detail on dealing with an incident from original, internal discovery to notification of authorities, gathering of evidence, damage control and corrective action.
Client Information Security goes beyond treatment of personal data, addressing corporate data held at agencies as well. It not only helps the agency with its data but makes agency members smarter about risk management and insurance resources for their own clients. Security breach laws are covered in their own section, and a state-by-state summary and “further resources” section round out the comprehensive report. To find out more or order a copy, visit http://www.ClientInformationSecurity.com.
The report can be purchased at www.ClientDataSecurity.com.
About Anderson: Based in Nashville, Tenn., Steve Anderson (www.SteveAnderson.com) is one of the insurance industry’s top consultants and speakers. He delivers keynote addresses, lectures, seminars and conference programs, in addition to individual agency consultations, helping clients maximize productivity and profits by smart use of technology. He is executive editor of The Anderson Agency Report (TAAR), a monthly newsletter dedicated to providing independent agents with the technology information they need to more effectively manage and grow their agencies. In addition to being a licensed independent agent for more than 30 years, Steve has a master’s in Insurance Law.