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What to Do About High Data Breach Costs
It's not always good to be Number One. According to a newly released report from the Ponemon Institute, the U.S. is the most costly country in the world in which to have a data breach. In its “2013 Cost of Data Breach: Global Analysis” study, Ponemon reported the total cost of a breach incident in the U.S. to be $5.4 million, or approximately $188 for every exposed record. (The study is available through Symantec at http://bit.ly/16j7W15.)
Lost business costs, such as abnormal turnover of customers, reputational harm and diminished goodwill, associated with a data breach averaged over $3.03 million in the U.S. Notification costs are a leading driver of total breach response costs, and giving notice too soon can raise that cost even higher, according to the report. Although the most expensive breaches were those caused by malicious attacks by hackers or criminal insiders, the majority of breaches ' 63% ' resulted from either negligence or system glitches.
New York's Latest Cybersecurity Commitment
On Aug. 9, 2023, Gov. Kathy Hochul introduced New York's inaugural comprehensive cybersecurity strategy. In sum, the plan aims to update government networks, bolster county-level digital defenses, and regulate critical infrastructure.
Law Firms are Reducing Redundant Real Estate by Bringing Support Services Back to the Office
A trend analysis of the benefits and challenges of bringing back administrative, word processing and billing services to law offices.
Bit Parts
Summary Judgment Denied Defendant in Declaratory Action by Producer of To Kill a Mockingbird Broadway Play Seeking Amateur Theatrical Rights
How AI Has Affected PR
When we consider how the use of AI affects legal PR and communications, we have to look at it as an industrywide global phenomenon. A recent online conference provided an overview of the latest AI trends in public relations, and specifically, the impact of AI on communications. Here are some of the key points and takeaways from several of the speakers, who provided current best practices, tips, concerns and case studies.