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The threat of data leaks is now an important component of the operational risk of corporations, which is why data security insurance is in great demand. This area is showing rapid growth, its volume will soon become multibillion in US dollars.

Data insurance includes:

    • Data breach cases when unauthorized access to confidential, vulnerableor classified data has been obtained.

    • Data loss due to negligence or data leakage.

Most often, insurance covers legal costs, losses incurred, settlement of obligations in relation to customers or individuals who have suffered because of data breaches.

The cyber insurance contract warranty is not only about direct damages caused by data breaches. The current approach to data security regulation suggests that companies may have serious legal obligations in the event of a leak of confidential information.

Business at risk

The standards of modern data regulation, the European GDPR and the California CCPA, require a "secure by design" approach to the handling of confidential information (that is, data security must be ensured when developing software).

Thus, corporations are responsible for the storage and use of their customers' personal information. Data Security Insurance helps companies minimize risk and adhere to international best practices.

But data insurance is not easy to get.

As with other forms of insurance companies require companies to comply with safety standards. That is to qualify for this level of security, companies must demonstrate that they have taken all the necessary steps to ensure the security of their systems.

Role of DLP (Data Loss / Leakage Prevention)

Data loss protection plays an important role in compliance and data security insurance.

First, DLP strengthens the company's compliance control. While the installation of a DLP platform is not required by data regulation standards, experts point out that DLP is an important factor in demonstrating a company's efforts to protect its data.

That in the event of a data breach company executives will be able to point to these actions as evidence that modern and effective security measures have been taken.

Second, it will be easier for a company to insure its data. Insurance providers are unlikely to want to do business with companies that do not use corporate data loss prevention software.

Compliance with GTB standards

DLP GTB provides users with significant data security optimization benefits.

The artificial intelligence (AI) platform offers customers a high level of protection against data loss, ensuring that company processes comply with all current regulatory standards.

With the help of GTB, the company can take care of the level of confidentiality, which is the reason for the current regulation of the safety of the people, to seize their most valuable resources, as well as to change the potential of the specialists in the sphere of results.

About iITD:

The company Intelligent IT Distribution (iITD) is a classic Value-Added Distributor, which is a good service for the development of the IT system, as well as the service provided by the project support. iITD is the official distributor of GTB Technologies products in Ukraine.  

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