Hilb Rogal & Hobbs Company and the Ponemon Institute Launch Groundbreaking Privacy Breach Index(TM)
20 Agosto 2008 - 3:08PM
Business Wire
Hilb Rogal & Hobbs Company (NYSE:HRH), one of the world's
largest insurance and risk management intermediaries, has teamed
with the Ponemon Institute, a leading privacy and information
management research firm, to launch the Privacy Breach Index�, the
first publicly available benchmarking tool that can objectively
measure a company�s response to data loss or theft, especially when
it concerns information about people and their families. Paul
Paray, senior vice president at HRH, commented, �When advising
clients, we often tell them it is not a matter of if you sustain a
privacy breach, it is more a matter of when you sustain one. Given
our understanding about the risks to sensitive and personal
information in organizations, we approached Dr. Larry Ponemon,
noted researcher on privacy and data security practices, to create
objective tools that could actually improve a company�s ability to
manage a privacy incident. We are quite pleased with the end
results achieved.� The Privacy Breach Index (PBI) benchmark tool
can assist companies to do the following: Improve existing
procedures and safeguards for prevention of a data breach.
Determine areas where you are most vulnerable to a data breach.
Benchmark your organization�s response to a data breach against
other companies. The PBI is compiled from surveys completed by 768
individuals in the data protection, IT security and compliance
professions who have the expertise or experience to assess their
organization�s responsiveness and quality of response following an
organization�s breach incident. Each participant in the survey
self-reported that their organization had a data breach involving
the loss or theft of customer, consumer or employee data in the
past 24 months. �Our study provides further evidence of the
importance of having a good quality privacy incidence response plan
in place,� said Dr. Ponemon. �More than 83% of respondents believe
that the individuals affected by the data breach lost trust and
confidence in their organization�s ability to protect their
personal information. As we have found in our consumer studies on
trust, these perceptions often result in the loss of customer
loyalty. In fact, 80% of respondents in the PBI study reported that
a certain percentage of data breach victims terminated their
relationship with the organization.� The PBI survey questions
address the core activities that encompass all aspects of a
company�s data loss incident response, such as: detection and
forensics, escalation to management, notification quality and
timeliness to breach victims, support to breach victims (such as
credit monitoring or identity theft protection, post-mortem
response, reputation management and response to regulatory or legal
action). HRH and the Ponemon Institute will release the key
findings from the Privacy Breach Index Survey and details about the
Privacy Breach Index at a plenary session conducted at the Privacy
Symposium. The session will be conducted at Harvard University on
August 19, 2008. The following are five key findings from the
survey: 1. Only 9% of respondents gave an �A� or excellent to their
organization�s overall performance in responding to their
organization�s most recent data breach incident. Thirty-one percent
said their performance rated a �B� or good and 26% said it rated a
�C� or fair grade, while 29% gave a �D� or poor and 5% gave their
organization an �F� for failure. 2. An overwhelming 80% of
respondents believe that their organizations experienced some loss
of customers or other data breach victims after the incident. 3.
The number one root cause of data breach incidents reported by
participants is employee negligence (50% of participants) followed
by third party negligence (29%). External penetration (hackers) was
low at 3% and other criminal activity was only 1%. 4. Most
respondents say their companies have had multiple data breaches.
More than 36% of respondents have between one and four data breach
incidents involving 100 or more records each year, 32% have between
five and eight and 31% have nine or more incidents. 5. Respondents
believe that the ex-post response to a data breach (such as
conducting an audit or assessment after the incident is closed) and
detection and escalation of the incident (such as ensuring that
third parties are instructed to inform your organization if they
have a data breach involving your organization�s sensitive and
confidential data) are very important or important to a successful
privacy incidence response plan. The PBI survey will be available
for download from www.privacybreachindex.com. For a fee, companies
that complete the PBI benchmark instrument will receive a
customized report that compares their response to a breach incident
to the companies and industries in the PBI index. The report will
provide the company with a performance measure or �score� and
guidance on how it can improve the core activities associated with
responding to a data loss incident. The Privacy Breach Index� will
assist HRH clients in the following ways: HRH clients will be able
to make better informed decisions regarding how to budget for
network security and privacy incident risk management. HRH clients
will have free access to the Privacy Breach Index� as part of the
services provided by the HRH Network Security & Privacy
Advisory Group. The Privacy Breach Index� is a unique offering from
HRH that will help our clients better manage and address the
significant reputation exposure resulting from a privacy incident.
Study Availability A copy of the Privacy Breach Index� Executive
Summary and a questionnaire that can be used to create a company�s
PBI score will be made available for download via the following
link: www.hrh.com/privacy. Further information regarding HRH�s
Network Security & Privacy Advisory Group can also be found at
that site. For specific questions about the Privacy Breach Index�,
please contact Paul Paray at paul.paray@hrh.com or 212-907-5934.
About Hilb Rogal & Hobbs Hilb Rogal & Hobbs Company (HRH)
is the eighth largest insurance and risk management intermediary in
the United States and the world, with over 140 offices around the
globe. HRH helps clients manage their risks in property and
casualty, employee benefits, professional liability and other areas
of specialized exposure. In addition, HRH offers a full range of
personal and corporate financial products and services. HRH is
focused on understanding our clients� businesses, employees and
risks, as well as the insurance and financial markets, so that we
can develop insurance, risk management and employee benefits
solutions that best fit their needs. The company�s common stock is
traded on the New York Stock Exchange, symbol HRH. More information
about HRH may be found at www.hrh.com. About the Ponemon Institute
The Ponemon Institute is dedicated to advancing responsible
information and privacy management practices in business and
government. To achieve this objective, the Institute conducts
independent research, educates leaders from the private and public
sectors and verifies the privacy and data protection practices of
organizations in a variety of industries.
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