As cybercrime becomes an even greater issue, collection companies are coming under increased scrutiny by their clients. Creditors are forwarding sensitive personally identifiable information (PII) to their collection partners, entrusting them with safeguarding this sensitive data about their customers. And, in the case of hospitals and other healthcare providers, highly confidential information about their patients’ medical conditions is potentially at risk.
- How can you become better prepared? Experian has recommended 10 steps that can act as a starting point in beefing up your data protection to help protect your company from cyber threats.
- Creditors and healthcare providers are also increasingly requiring that their collection partners obtain cyber liability insurance coverage to help protect them from unauthorized breaches of data while in the possession of the collection entity. Many collection companies already rely on Cornerstone Support (through its subsidiary, Integrity First Insurance, Inc.) for their E&O insurance but may not be aware that we are a leading provider of cyber liability coverage for the ARM industry.
Call Ben Johnson at (678) 740-0491 or send him a request for more information: [email protected].