“Virtually no business is immune from the potential risk of a data breach,” said Eileen Currie, Arbella Vice President of Commercial Lines.
Scottsdale, AZ (PRWEB) July 26, 2011
Identity Theft 911, the nation’s premier identity management and data risk management services provider, has partnered with Arbella Protection Insurance to offer commercial data breach services. These services are ideal for small businesses and provide data breach preparedness and response services. This new offering includes guidance to help businesses reduce their risk of breach, while also providing services that help them respond in the event that a breach does occur. These services are being included as part of Arbella Protection Data Breach Coverage which can be added to Arbella commercial package policies.
Arbella Protection, in its commitment to respond to the continually emerging needs of its policyholders, is pleased to introduce its Data Breach Coverage. This coverage not only affords the small business owner access to invaluable Identity Theft 911 expertise, but the means to address some of the economic consequences of a data breach event.
“Virtually no business is immune from the potential risk of a data breach,” said Eileen Currie, Arbella Vice President of Commercial Lines. “Arbella’s Data Breach Coverage gives small business customers the peace of mind that they’ll be prepared in the event that a breach should happen. We’re committed to providing swift solutions to help safeguard and restore our customers’ reputations, and to offering help and protection before and after a breach.”
The cost burden on businesses for data breaches continues to rise. According to the Ponemon Institute’s U.S. Cost of a Data Breach report, the average organizational cost of a data breach grew for the fifth consecutive year in 2010, climbing to $7.2 million—a 7 percent increase from 2009. Data breaches cost companies an average of $214 per compromised record in 2010, up 5 percent, from 2009. Although there are many possible causes for a data breach, they most often result from employee negligence or a lost or stolen electronic device. All businesses that handle or store private business, customer, patient or employee data are susceptible.
“2011 has been the year of the data breach,” said Matt Cullina, CEO of Identity Theft 911. “With giants like RSA and Sony being shut down by bedroom hackers, it demonstrates that no business is immune to this exposure. The results can be devastating in terms of customer data compromised and costs involved. Arbella is taking a comprehensive approach that educates companies on how to protect themselves, and also helps them work through issues surrounding a data breach, should a situation occur.”
In addition to Identity Theft 911 consultative services, Arbella Protection’s Data Breach Coverage will provide essential expense coverage. Coverage includes reimbursement of costs associated with the notification to potential data breach victims and required third parties. It also provides services to persons impacted by the breach. These services include various credit monitoring options, access to a toll-free help line, and identity restoration case management, when needed. Coverage also includes legal expense coverage to ensure that the response to the data breach complies with state and federal notification requirements and laws.
About Identity Theft 911
Founded in 2003, Identity Theft 911 is the nation’s premier consultative provider of identity and data risk management, resolution and education services. The company serves 13 million households across the country and provides fraud solutions for a range of organizations, including Fortune 500 companies, the country’s largest insurance companies, corporate benefit providers, banks and credit unions and membership organizations. Since 2005, the company has helped more than 150,000 businesses manage data breaches. For more information, please visit http://www.idt911.com.
About Arbella Protection Insurance
ARBELLA INSURANCE GROUP, headquartered in Quincy, Massachusetts, is a customer-focused regional property and casualty insurance company providing business and personal insurance in Massachusetts and Connecticut, and business insurance in Rhode Island and New Hampshire.
Established in 1988, Arbella has a reputation for exceptional service built upon a foundation of financial strength and knowledgeable local employees. Arbella writes more than $600 million in annual written premium and has approximately $1 billion in assets. To learn more about Arbella, visit http://www.arbella.com.