May 07, 2012

Privacy Best Practices

Although private data includes confidential corporate information (and your privacy policy should include confidential corporate information within the definition of data), protection of personal data is really what has grabbed the attention of most consumers, privacy groups and regulators.

Back in March 2012, the Federal Trade Commission (FTC) issued a report outlining best practices for companies to follow to protect consumer privacy and also allowing consumers to gain greater control over the collection and use of their personal data. 

Here are some of the FTC’s recommendations for companies:

  • Protection of personal data should be built into every stage of a company’s development. This includes security measures for personal data, limited collection, and retention of personal data and procedures to promote data accuracy.
  • Allow consumers the choice to have personal data shared and give an option to decide what information they want shared and with whom.
  • Offer greater transparency to consumers by disclosing details about the collection of personal data and provide consumers access to the data that is collected about them. Additional information can be found on the FTC’s website (www.ftc.gov).


Even while following best practice guidelines we all know breaches can occur. That’s where insurance can help. Some estimate prices for cyber policies are currently as low as they are probably going to go. It might be a good time for you to assess your needs and purchase the coverage.

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Welcome

Cyber Bytes is S.H Smith & Company's Cyber, Security & Privacy blog – written by the experts you trust.

Contributors

Betty Shepherd and Jeanine Loomis are experts in the field of Cyber, Security, & Privacy. Combined, they have over 40 years experience writing Cyber, Security & Privacy Liability policies.

 

With over three decades of experience as an IT Manager/Security Expert, Gene Barnes is intimately acquainted with the cyber threats that today's business owners face.