Information Insecurity

This week online job search site Monster Worldwide announced that it would be boosting its security measures following a significant data breach earlier this month. Apparently Monster recently became aware of illegal downloads of personal information of at least 1.3 million job seekers with resumes posted on Monster.com, including names, addresses, phone numbers and email addresses. The delay between finding out about the breach and notifying those affected is still being explained by the company. Part of the answer may lie in the fact that it can take months for companies to uncover  data loss incidents.  Many breaches also go unreported as companies try to limit the damage to their reputation. Meanwhile, we read that the Ohio Court of Claims has dismissed a lawsuit by two Ohio University graduates seeking to compel the school to pay for credit monitoring following a 2005 computer breach. The judge decided that the two original plaintiffs could not prove harm because they have not experienced identity theft. Needless to say, attorneys now plan on refiling the complaint with new plaintiffs who are victims of identity theft. Both stories highlight the continuing liability facing corporations when a breach in data security occurs. Insurance is one of the tools available to help corporations prepare and recover. Check out further I.I.I. info on this topic.  

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