Privacy breach resources and services will help insureds avoid privacy breaches and mitigate damages should they occur
Toronto, ON (Aug. 29, 2014) – Almost daily, news of a privacy breach makes headlines with loss of sensitive information like Social Insurance Numbers, email addresses and passwords, and other confidential information. Particularly at-risk are those businesses that manage sensitive information like insurance brokers, personal counsellors, property managers and financial institutions.
In response to the changing cyber landscape, Trisura Guarantee Insurance Company has announced that all Corporate Risk policies will now include complimentary access to privacy breach services provided by IDT911®. IDT911 is North America’s premier identity management and data risk management services provider and has been providing Trisura Corporate Risk policyholders with privacy breach services since 2011. This addition provides all policyholders with proactive and reactive privacy breach services and tools, including educational material and training modules.
“We initially included privacy breach services for those policyholders who requested the coverage,” said Richard Grant, senior vice president of Corporate Risk, Trisura. “We experienced an overwhelming response from brokers who urged us to include these services in all policies to enhance policy value and to facilitate the privacy breach discussion. Based on the great relationship we have with IDT911, along with our dedication to our brokers, it is a no-brainer to include complimentary breach services to protect all of our valued Corporate Risk policyholders.”
According to the 2014 Ponemon Cost of a Data Breach report, the average cost per breached record is $145. However, companies that experienced a privacy breach and had a strong crisis management and incident response plan tended to mitigate the costs of the breach. As the competitive landscape changes and the risks continue to shift with developments in technology and connectivity, privacy breach solutions will also need to be tweaked to keep pace.
“Cyber extensions are becoming a standard offering on all commercial policies and we see a new group of insurance carriers get into the cyber solution space every year. We realize the tremendous value to offering these services on all our Corporate Risk policies that we’re doing so at no additional expense to the insured,” said Grant.
“Trisura has always been a leader in staying ahead of risks and offering their policyholders best-in-class solutions,” said Matt Cullina, CEO, IDT911. “We’re thrilled Trisura sees the value in offering privacy breach services to all Corporate Risk policyholders to keep their reputation and sensitive information in check.”
To learn more about Trisura’s privacy breach services, please contact your insurance broker.
Founded in 2003, IDT911 is North America’s premier consultative provider of identity and data risk management, resolution and education services. The company serves more than 17.5 million households across North America and provides fraud solutions for a range of organizations, including Fortune 500 companies, North America’s largest insurance companies, corporate benefit providers, banks and credit unions and membership organizations. A subsidiary of IDT911, IDT911 Consulting™ provides information security and data privacy services to help businesses avert or respond to a data loss incident. Together, the companies provide preventative and breach response services to more than 600,000 businesses in the United States, Canada and the United Kingdom. IDT911 is the recipient of several awards, including the Stevie Award for Sales and Customer Service and the Phoenix Business Journal Tech Titan award for innovation in breach and fraud-fighting services. The company is the organizer of the Privacy XChange Forum, an annual conference that brings together high profile privacy thought leaders. For more information, please visit www.idt911.com.
About Trisura Guarantee Insurance Company
Trisura Guarantee Insurance Company is a Canadian specialty insurance and surety company with offices in Toronto, Montreal, Calgary, Halifax, Quebec City and Vancouver. Trisura provides customized solutions and expertise through a select broker network and is uniquely positioned to satisfy mid-market risks in Contract Surety, Commercial Surety, Directors’ and Officers’ Liability, Fidelity, and Professional Liability including Media Liability. For more information, please visit www.trisura.com.