Protecting Against Data Breach Liability: How Service Providers Can Manage the Inherent Risk of Cyber Incidents
Most service providers of a company, such as marketing or advertising agencies, providers of software-as-a-service or other hosted application services, as well as other providers of professional services, interact with that company's data, or the company's third-party client data, in some way to perform their services.
Regardless of the degree to which data is shared with and utilized by the service provider, the surge in state data privacy laws has left many customers concerned about potential regulatory enforcement and fines in the event that data they control is subject to a breach event. This means the security of personal data and resulting liability in the event of a data breach is quickly becoming a major component of many commercial contracts as service providers face potential liability for cyberattacks that compromise third-party and customer data.
In the September/October issue of The Nebraska Lawyer, Maureen Fulton and Mikaela Witherspoon explain three key ways in which service providers can manage their data breach liability, reduce risk, and safeguard their bottom lines. Read their full article at the link below.