Do you have legal requirements if your business experiences a data breach?
Connecticut’s Public Act No. 15-142 requires any business in the state of Connecticut (even those with no physical location) who have discovered, or have a reason to believe, they have a data breach of any certain personal information, to offer the affected individuals free identity theft prevention service and if applicable, identity theft mitigation service at no cost to those individuals for a minimum of 12 months.
This act requires notification to the individual without unreasonable delay but no later than 90 days after the discovery of the breach and must advise how to enroll in the services and how to place a credit freeze on their credit file. The business is also required to notify the Connecticut Attorney General’s Office no later than when notice is given to the resident.
These notification expenses can be very expensive. You can protect your business from these unexpected expenses by purchasing Cyber Liability Insurance before the data breach occurs. If you would like to learn more about cyber liability insurance, please call Tim Russell at 888.926.3564.