Search
 

The Dark Side of Web Services

Today more than ever, preventing data security breaches is a top priority for any business. Recovering from a breach has a measurable impact on the bottom line. A 2006 study by the Ponemon Institute r

By Michael P. Voelker | Updated on March 31, 2007

Today more than ever, preventing data security breaches is a top priority for any business. Recovering from a breach has a measurable impact on the bottom line. A 2006 study by the Ponemon Institute reported it cost companies $182 for each lost customer record in direct costs, lost productivity, and lost customer opportunity. But perhaps even greater is the damage to a company’s reputation. In a survey of consumers, Ponemon found 60 percent terminated or considered terminating business with companies that notified them of mishandling their private information.

Of course, information security is nothing new to insurers, but in the past, security has focused on ways to keep people away from information and to control access to and connections between enterprise applications. Today, that model has been turned on its head.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2024 ALM Global, LLC. All Rights Reserved.