State statutes dictate how an organization must respond to a data breach, and Cyber Risk Insurance (also called Data Breach, Privacy and Network Security insurance coverage) is typically structured to provide financial support for compliance with these Data Breach Laws. A summary of the laws is available on the BakerHostetler site here. Most states have passed laws setting out requirements for any organization which experiences a breach of personal information. While the regulations vary, most states define a breach and require some level of notice to both a responsible party, usually the Attorney General, and to potential victims. Importantly, these statutes generally apply to the location of the victim, not just the location of the organization. So a company doing...
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