Do You Consider Cyber Attacks as a Serious Threat?

I’m a new believer that there is no sure defense against data breach attacks.  I learned in the same week, that two of my favorite companies had suffered data breaches.  The one that surprised me was Zappos.com.  As a fairly recent acquisition of Amazon.com, I figured that the two online giants would combine their security technology and make it impossible for anyone to breach their servers or other data.  I obviously figured wrong and realized that no matter how great and beefy a company’s security is, breaches still happen. But not surprising, Zappos executives handled this breach in the best manor possible by notifying those millions of people whose records may have been breached.  In fact, the CEO even tweeted the actual email that he sent to employees of the company explaining how they are handling the situation.  Very respectable.

My mind tends to wander sometimes as I read and as I read the email via twitter, I could not help to wonder how much time, money and effort went into the notification process alone.  There is a law that requires any entity that experiences a data breach to notify everyone whose information may have been breached.  Albeit, I’m sure that Zappos would have sent notifications even if this law did not exist.  It would seem that notification is just the beginning.  After the notification process I’m sure there would be public relations, investigation and forensics and possible lawsuits to deal with.  I have not found anything suggesting that this breach has resulted in any lawsuits.

If you have spent any time with me in the last couple of years, then you know that I do not shut up about this subject.  In fact, this is my second blog regarding this topic within the last few months.  I believe strongly that this is a serious challenge that many business owners have to deal with.  As it is, it seems that there is no absolute defense against data breaches, but every business should have a plan in place, just in case it does happen. For more information regarding this topic, I recommend www.privacyrights.org and http://www.ponemon.org/.

Going Where No Insurance Broker Has Gone Before

            I had a very unique opportunity recently to visit a renewable energy project site with one of my clients.  For the sake of simplicity, this project takes trash and turns it into energy.  When I first heard about the project a few years ago, my mind conjured images of the movie “Back to the Future” when Doc showed up at Marty’s house in the DeLorean-time-machine and started throwing a bunch of trash into a smoking fuel tank.  It’s not quite like that exactly, but not far from it. 

            Some people have asked me, why go all the way to Dallas for two days to tour an energy plant that sits on a landfill?   There are several reasons why I decided to accompany my client to their project site.  First, I am very interested and quite passionate about renewable and clean energy.  So, I jumped at the opportunity to see and learn about a working project in person.  Second, it’s my job as a risk manager to understand as much as possible about the risks that I recommend for insurance coverage.  I focus most of my work and marketing efforts in the energy industry and this was a perfect opportunity to learn and make certain that my clients are protected in the best possible way.  Third, I was the first “insurance broker” that had ever visited the sight.  Sure, there had been insurance inspectors from various carriers that have visited the sight before, but not brokers.  It was my hope to deepen my relationship with this great client and have a chance to show my commitment to supporting their growth and success. 

            I know that there are competent insurance brokers out there that care about their clients and do a good job.  I try to set myself apart from even the good brokers out there by going the extra mile for my clients.  This is why I chose to focus on an industry that I’m actively engaged and interested in.  I can honestly say that my trip to Dallas did not feel like work, but rather more like an enjoyable field trip.  I’m very excited to know that the future looks bright for the ingenious people and companies in the renewable energy industry.