• Personal accident and sickness; • Private medical insurance.
Case study
Computer disks, which had previously belonged to a hospital trust, bought second-hand at an online auction site were found to contain sensitive and confidential data, including patients’ medical records and personnel details.
The disks had been disposed of by the trust via their contract with an external company, who should have erased the data. In fact, only a basic level of deletion had been carried out and the data was still accessible using standard data analysis tools.
While the problem resulted from the supplier not carrying out their contractual obligations properly, it was the hospital trust that received the negative media attention and risked legal action from their patients and staff.
The trust subsequently carried out a review of its policies and has stated that it no longer uses external companies to dispose of IT equipment.
(Source: BBC news –
www.bbc.co.uk/news)
Footnote: it is estimated that between 40% and 50% of second-hand disks contain sensitive data that has not been effectively deleted.
Insurance may provide a safety net for your business if things go horribly wrong, but do bear in mind that insurance only addresses (some of) the financial impacts of some of your risks. It merely provides a pre-defined sum of money in the event that certain pre-defined risks occur. It almost certainly won’t pay out immediately – in fact, experience has shown that insurance can take months, or even years, to pay out and that the claims process is often fraught with difficulties (strangely enough, paying out on claims isn’t the favourite activity for most insurance companies!).
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