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Hacked off: Why even small businesses need data compromise protection

With data breaches affecting millions of Americans, companies of all sizes are looking for insurance coverage to help them respond. Virtually every business is exposed, but small and midsize companies are

By Mark Macgougan | Updated on July 20, 2008

With data breaches affecting millions of Americans, companies of all sizes are looking for insurance coverage to help them respond. Virtually every business is exposed, but small and midsize companies are particularly at risk. They usually have less data security, so they may be more likely to experience a breach, while facing new laws that mandate disclosure.

Notifying and providing services to customers exposed to potential identity theft and fraud can be costly and disruptive to a business. A company must also be concerned with protecting its reputation and its relationships with customers and clients.

Many small and midsize companies don’t have the resources and expertise to respond to a breach. Data compromise insurance coverage, which typically covers notification costs and services such as credit monitoring and identity restoration, is one way agents can help these clients protect themselves.

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