Hartford Steam Boiler Releases Survey Shows Small Businesses Have Big Data Breach Exposure [Manufacturing Close – Up]
According to a study conducted for
"Smaller companies are targeted by data thieves, but they often don't know how to respond when sensitive information they keep on customers and employees is lost or stolen," said
According to a release, the
The primary causes of the data breaches were employee or contractor mistakes; lost or stolen laptops, smart phones and storage media; and procedural mistakes.
Sensitive information is more likely to be compromised when the data has been outsourced, 70 percent of the respondents believe, but 62 percent do not have contracts that require third parties to cover all the costs associated with a data breach. Seventy percent of small business owners said they would purchase insurance to help pay for the costs if data is breached.
At least 85 percent share customer and employee records with third parties such as those providing billing, payroll, employee benefits, web hosting and information technology services. When asked which type of lost or stolen data was more likely to harm their business, 70 percent agreed the loss of personally identifying information was more damaging than confidential company data.
Hartford Steam Boiler, a member of
In the U.S.,
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