The Nation was shocked during the holiday season of 2013 when it found out that trusted retailer Target experienced a data breach that left customers scrambling to ensure their credit, their money and their livelihood were safe. If your home is covered by Executive Edge Insurance in Merced, then chances are, you were probably well covered and are enjoying the credit monitoring feature that comes with many of our homeowner’s insurance packages.
The average cost of a corporate data breach increased 15 percent in the last year to $3.5 million, according to a study by the Ponemon Institute out of Michigan. Ponemon’s prior studies showed the most common cause of a breach is a malicious insider or criminal attack but factors in human error and system failures.
The information in that study might not seem like it should mean anything to you but what it does mean is that identity theft via data breaches is on the rise and only going to continue to increase until our banking system figures out a way to keep our information secure and tight. In the meantime pick up the phone and call us here at Executive Edge (209-385-3343) and let us help you protect what you value most…your identity.