BeautyLink - Volume 6, Issue 2 - (Page 45)

CYBER LIABILITY AND DATA SECURITY MISCONCEPTIONS VS. REALITY BY ROBERT N. KRETZMER, CIC MY BEAUTY SCHOOL DOES NOT NEED CYBER LIABILITY AND DATA SECURITY! " " T he data breach affecting retail giant Target last winter highlighted risks all businesses must confront in a world that increasingly does business online and in the "cloud." We are in the midst of a technology revolution that is changing how all entities do business. While Target has the financial muscle to weather potential lawsuits arising from the data security breach, the cost of cyber theft could be devastating to a small business, such as a beauty school. The risk of doing business online and storing sensitive customer, employee, and student records and data electronically has never been greater. Cyber losses and data breaches are negatively affecting small, medium, and as the Target incident illustrated, large businesses. Today we are able to access documents via a cloud and conduct many business transactions from a cell phone and/or tablet computer. How do these new situations affect your beauty school and its insurance coverage? Here are a couple of definitions that shed some light on cyber liability and data security. Cyber Terrorism is the premeditated use of disruptive activities, or the threat thereof, against computers and/or networks, with the intention to cause harm or further social, ideological, religious, political or similar objectives, or to intimidate any person in furtherance of such objectives. Cyber Liability coverage protects against the costs of theft, destruction or unauthorized use of electronic data through computer viruses and network intrusions. In the insurance world, Cyber Liability refers to exposure to a company that can cause financial loss. Commercial General Liability only covers physical loss. These cyber losses are also known as "intangible" losses vs. "tangible" losses in Commercial General Liability policies. Data Breach means the loss, theft or other unauthorized access, other than those incidental to the scope of employment, of data containing sensitive personal information, in electronic or printed form, that results in the potential compromise of the confidentially or integrity of the data. Data Security means protecting a database from destructive forces and the unwanted actions of unauthorized users. It is difficult to imagine a beauty school that does not touch personal information or has no presence on the Internet or social media. And individual beauty school principals themselves are especially vulnerable to the risks of identity theft. Following are some misconceptions and realities that every school owner should be aware of. B E AUT YL I NK | BA L* A N C E | 2 0 1 4 | 45

Table of Contents for the Digital Edition of BeautyLink - Volume 6, Issue 2

Message From the Aacs President & Cea Chair
The Workings of Washington
Creating a Recipe for the Future
Voices From the Trenches
Creating Harmony in the Classroom
Manlink
Living an Integrated Life
A Student’s Perspective
And Then There’s Compliance
This Hairstylist Is on Fire!
Keeping the Enrollment Funnel Flowing
Beauty Changes Lives
Significant Changes
Battle of the Strands
Cyber Liability and Data Security
Superstar Graduate
Plagued by More Delays
Voices From the Classroom
Launching a Blow Out Career
People & Places
New Products & Services
Associate Member Profiles: Distributors
New School Members
Upcoming 2014-15 Events
Index to Advertisers
advertisers.com

BeautyLink - Volume 6, Issue 2

http://www.nxtbook.com/naylor/BSAQ/BSAQ0218
http://www.nxtbook.com/naylor/BSAQ/BSAQ0118
http://www.nxtbook.com/naylor/BSAQ/BSAQ0417
http://www.nxtbook.com/naylor/BSAQ/BSAQ0317
http://www.nxtbook.com/naylor/BSAQ/BSAQ0217
http://www.nxtbook.com/naylor/BSAQ/BSAQ0117
http://www.nxtbook.com/naylor/BSAQ/BSAQ0416
http://www.nxtbook.com/naylor/BSAQ/BSAQ0316
http://www.nxtbook.com/naylor/BSAQ/BSAQ0216
http://www.nxtbook.com/naylor/BSAQ/BSAQ0116
http://www.nxtbook.com/naylor/BSAQ/BSAQ0415
http://www.nxtbook.com/naylor/BSAQ/BSAQ0315
http://www.nxtbook.com/naylor/BSAQ/BSAQ0215
http://www.nxtbook.com/naylor/BSAQ/BSAQ0115
http://www.nxtbook.com/naylor/BSAQ/BSAQ0414
http://www.nxtbook.com/naylor/BSAQ/BSAQ0314
http://www.nxtbook.com/naylor/BSAQ/BSAQ0214
http://www.nxtbook.com/naylor/BSAQ/BSAQ0114
http://www.nxtbook.com/naylor/BSAQ/BSAQ0413
http://www.nxtbook.com/naylor/BSAQ/BSAQ0313
http://www.nxtbook.com/naylor/BSAQ/BSAQ0213
http://www.nxtbook.com/nxtbooks/naylor/BSAQ0113
http://www.nxtbook.com/nxtbooks/naylor/BSAQ0412
http://www.nxtbook.com/nxtbooks/naylor/BSAQ0312
http://www.nxtbook.com/nxtbooks/naylor/BSAQ0212
http://www.nxtbook.com/nxtbooks/naylor/BSAQ0112
http://www.nxtbook.com/nxtbooks/naylor/BSAQ0411
http://www.nxtbook.com/nxtbooks/naylor/BSAQ0311
http://www.nxtbook.com/nxtbooks/naylor/BSAQ0211
http://www.nxtbook.com/nxtbooks/naylor/BSAQ0111
http://www.nxtbook.com/nxtbooks/naylor/BSAQ2011MediaKit
http://www.nxtbook.com/nxtbooks/naylor/BSAQ0410
http://www.nxtbook.com/nxtbooks/naylor/BSAQ0310
http://www.nxtbook.com/nxtbooks/naylor/BSAQ0210
http://www.nxtbook.com/nxtbooks/naylor/BSAQ0110
http://www.nxtbook.com/nxtbooks/naylor/BSAQ0409
http://www.nxtbook.com/nxtbooks/naylor/BSAQ0309
http://www.nxtbook.com/nxtbooks/naylor/BSAQ0209
http://www.nxtbook.com/nxtbooks/naylor/BSAQ0109
http://www.nxtbookMEDIA.com