Every day small, medium and large businesses are victims of cyber crimes committed by hackers. There is a cyber liability exposure for every type of business operation—from "Mom & Pop" stores to multibillion-dollar corporations.
Some of the more widely publicized incidents include First Federal Savings Bank, which had $415,000 hacked out of a savings account, and Kaiser Permanente, a health care consortium, which was fined $200,000 for publicly posting 150 patient names and addresses. And these are just a few of the notable accounts. There are hundreds more instances that go unpublished.
Medical offices, hospitals, rehabilitation clinics, and nursing homes affected by Health Insurance Portability and Accountability Act (HIPAA) legislation are at risk. In addition, insurance agencies and mortgage companies have faced steep penalties from lawsuits resulting from privacy breaches.
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