EFI Global

Crossroads: Where Security And Privacy Regulations Meet Cyber Insurance

 Wednesday, June 2, 2021


In 2020 alone, industries across the board experienced a total of 1001 reported cases of data breaches.

It’s no secret that businesses need to comply with security and privacy regulations defined by the states and countries they operate in, by their industry or by the type of audience and customers they work with.

These include well-known regulations and standards such as Payment Card Industry Data Security Standard (PCI DSS), Health Insurance Portability and Accountability Act (HIPAA), the California Consumer Privacy Act and many others.

The National Institute of Standards and Technology (NIST) framework is also listed as it has become a widely used framework to guide cybersecurity initiatives.

In order to achieve compliance, regulations demand a documented and tested cyber incident response plan. This is an acknowledgment that not only will cyber incidents happen but that businesses also need to be prepared to respond.
Legislation & RegulationRisk Management