In the age of social media, it only takes a few minutes for bad press to circulate among thousands of users, and threats can come from anywhere. A product recall, an employee lawsuit, a misguided Tweet from a chief executive. Even if an appropriate response is launched, reputational damage has likely already been done.
Cyber exposures add gasoline to the fire of reputational risk. With hordes of stored personal customer data, including PII and payment card information, a breach could particularly anger an otherwise loyal customer base and lose its trust, damaging business long-term.
Sponsor’s Information: Learn more about how Starr Companies’ Crime & Fidelity coverage can help with your reputational risks.