Central to Access’ business is protecting clients’ sensitive business information. Access Notifi extends the protection Access provides, so that you are prepared and have assistance at your fingertips, should a data breach or hacking event happen to your company.
Breaches are a fact of life in today’s cyber-attack happy world. In 2018, according to the Identity Theft Resource Center (ITRC) , there were over 1,240 data breaches reported. These breaches accounted for an astounding 446 million consumer records containing personally identifiable information (PII), well over 100% more than in the prior year. If you count data like email addresses, user names, and passwords, the number of records compromised climbs to over 166 billion.
Businesses like Marriott, Target, FaceBook, Cathay Pacific, Quora, and others were all breached in one way or another, leading to significant reputation damage as well as disruptions to their users and their businesses. Just focusing on business impact, not legal fees and settlements, the average insured loss from a cyber incident is now just over $2.3 million according to Allianz Global Corporate & Specialty (AGCS) AGCS, with the understanding that losses from major cyber events can be in the hundreds of millions or higher. You would not be alone in worrying about cyber incidents, as they rank as the business interruption trigger most feared by businesses, according to Allianz Risk Barometer survey respondents.
Businesses of all sizes are being targeted, especially smaller and mid-sized firms who believe they may be below the hackers’ radar, and whose data security practices may be less well-resourced than at large organizations.
While information security technology is critical to every business, an equal or more important solution is response and recovery as a key component in managing a data breach event. Most CEOs and CIOs do not get fired because their companies are hacked or experience a data breach event, they (e.g. the CEOs and CIOs of Target and Equifax) were fired because of their company’s failed management response to a data breach event / hack. The threat landscape changes so quickly security policies and procedures are not keeping up.
Having a formal response and recovery plan is critical to demonstrating defensible practices and is shown to help minimize risk and lessen financial impact and damages caused by an information security incident.
Through the service you will engage with an experienced data breach attorney. This allows you to invoke attorney client privilege which can protect your communications from being discoverable in a legal proceeding. Additionally you will have at your disposal:
Notifi includes ID Theft victim recovery services for an affected group of up to 50,000 consumers per Data Breach event whose sensitive information may have been compromised (Affected Consumer) in a Data Breach event. A professional Recovery Advocate handles the research, documentation and legwork on behalf of the victim to resolve both financial and non-financial identity fraud. Recovery services for larger events affecting more than 50,000 consumers are available at preferred rates.
If, for any reason, an Affected Consumer is a victim of identity theft within the term of the program, a professional Recovery Advocate will manage the recovery process with a goal to restore their name and credit to pre-event status. This includes the follow-up, paperwork, and phone calls on their behalf, through a limited power of attorney authorization.
The premise is simple, and the value provided far exceeds the low monthly fee.