Cyber for Plan Sponsors

Mass Emails Can Expose Personal Data


English government department of the Home Office has recently come under fire for accidentally exposing hundreds of email addresses after communicating with EU applicants hoping to settle in the UK via mass email.

Over 200 personal email addresses were exposed accidentally by the ministry when asking EU citizens to resend their information using a bulk email system. The Home Office utilized this method to respond to generic inquiries to avoid having recipients see each other’s email addresses but the method here ended up exposing more than it protected. Click here to learn more.

Where can a plan sponsor find cyber coverage to protect your plan in case of data breaches?

Colonial Surety includes cyber liability insurance with our ERISA fidelity bond  packages with fiduciary liability insurance to best protect your company plan against a cyber attack.

Colonial’s cyber insurance provides a services-based solution to help plan sponsors manage data breaches successfully. These services include a dedicated team of cyber breach professionals who assist plan sponsors at every stage of incident investigation and breach response. These professionals coordinate the carefully vetted forensics experts and specialized lawyers to help plan sponsors establish what’s been compromised; assess plan sponsor responsibility; and, notify those individuals affected. In addition, these services will also coordinate credit or identity monitoring, and PR advice to help the plan sponsor safeguard its reputation. Of course, Colonial’s cyber insurance also indemnifies and defends plan sponsors from covered lawsuits or regulatory actions, the risk of which may be reduced by a well-coordinated breach response, but can never be completely eliminated.

Ongoing governance and evaluation of recordkeepers can help protect data, but the only way to fully protect against a potential cyber attack’s data breach is to purchase cyber liability insurance from Colonial Surety Company.