Guest Column: After A Data Breach - Navigating The Road To Recovery

By Nick Economidis, Beazley Group

Not even halfway through 2011, and nearly 11 million records containing personally identifiable information have been put in jeopardy by malicious and inadvertent data breaches. Given the volume of credit card and other "personally identifiable information" that passes through the hands of retailers, the question is most certainly not if, but when a retailer will suffer a data security breach.

While retailers continue to beef up computer security, hackers continue to find ways to circumvent even the most sophisticated cyber-blockades. And the threat is not only hackers or rogue employees maliciously liberating private information: Data breaches occur when sensitive information is improperly disposed of and tossed in the trash or lost when a laptop or other portable electronic device is mislaid by or stolen from a well-meaning employee. This not only impacts your customers, but can damage your company's reputation and bottom line.