Property Casualty 360, an online resource for buyers and sellers of Property and Casualty Insurance, published an interesting article on Connecticut's new data breach law. The law, which takes effect on October 1st, 2015, requires businesses doing business in the State that suffer a data breach affecting a Connecticut resident provide free identity theft prevention and/or mitigation services to that person for at least one year. The cost of providing these services will be costly to an affected business. I highly recommend that if your business collects personal information of Connecticut residents that you purchase a cyber liability insurance policy to protect against those costs.
If you would like to learn more about protecting your business through insurance, please give Tim Russell a call at 203.255.2877.