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AlertBoot offers a cloud-based full disk encryption and mobile device security service for companies of any size who want a scalable and easy-to-deploy solution. Centrally managed through a web based console, AlertBoot offers mobile device management, mobile antivirus, remote wipe & lock, device auditing, USB drive and hard disk encryption managed services.

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AlertBoot offers a cloud-based full disk encryption and mobile device security service for companies of any size who want a scalable and easy-to-deploy solution. Centrally managed through a web based console, AlertBoot offers mobile device management, mobile antivirus, remote wipe & lock, device auditing, USB drive and hard disk encryption managed services.

Data Breach Insurance Might Dampen The Need For Data Security? I Say Otherwise

I’ve recently been reading up on some opinion pieces regarding insurance for security data breaches.  There seems to be some controversy regarding such insurance.  A subsidiary of AIG insurance, for example, has been offering a policy called netAdvantage for some time now.   Apparently, people have been signing up left and right in light of the ongoing security breaches.

 

Some people say that this is not a good development.  The thinking is that this doesn’t give the companies incentives to shore up crummy security practices. Also, companies might not feel a sense of urgency knowing that their financial losses are limited to a degree.

 

I’m not sure if I can agree with the above.  It’s repeatedly been shown in the public realm that the consequences of losing sensitive customer data involves more downsides than financial hits, in the stock market or in expenditures (such as offering affected customers credit monitoring services).  There is the ensuing PR efforts.  The litigations.  The anti-business regulations that get enacted post-haste.  I can’t really see any disincentive not to make sure that a company keeps its data secure.

 

Plus, it also assumes that the insurance businesses would let their insurers to continue with bad practices.  No insurance company wants to lose money (and, the horror stories imply that sometimes they’re loathe to pay legitimate claims as well.  The Rainmaker anyone?)  For this reason, insurance companies regularly dictate what steps and conditions have to be taken and met for them to offer coverage.  If the conditions are not met, they’ll just walk away.  In fact, my own belief is that the insurance companies will probably converge upon a set of minimum security practices that businesses have to follow in order to get coverage.  And in light of all the pending regulations holding companies liable, I’m assuming businesses will want such coverage.

 

It looks like the security practices to be followed will cover hardware, software, and employee behavior.  In other words, making sure only authorized people can physically access certain computers or servers; that firewalls and other security equipment are installed; that sensitive data be encrypted or that the entire hard disk encryption be implemented; etc.

 

Some say, well, if you’re going to follow good security practices, you won’t need the insurance.  I don’t find this to be necessarily true.  Mistakes will happen even if you have good security practices.  And isn’t that what insurance is all about?  Accidents?  Anything that cannot be controlled or foreseen? 

 

I’d say that the rising interest in companies looking for insurance is a good thing.  This can only be another force guiding businesses to invest in a minimum of security practices regarding endpoint security, such as hard disk encryption and any kind of mobile security such as laptop encryption.  AlertBoot can help.  It offers robust encryption solutions for protecting your company’s data, be in one file, a set of files, or the entire device.  Plus, there are added benefits such as port control via black and white lists to specify which peripheral products can be attached to your company computers.

 
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About sang_lee

Sang Lee is a Senior Account Manager and Security Analyst with AlertBoot, Inc., the leading provider of managed endpoint security services, based in Las Vegas, NV. Mr. Lee helps with the deployment and ongoing support of the AlertBoot disk encryption managed service. Prior to working at AlertBoot, Mr. Lee served in the South Korean Navy. He holds both a B.S. and an M.S. from Tufts University in Medford, Massachusetts, U.S.A.