As an insurance company or an insurance broker, you provide your customers with the peace of mind that their assets are properly covered against loss, theft, or damage. Your relationship with your customers relies on transparency, confidentiality, and trust. And whether it’s property or life insurance, your customers expect you to keep their personal, private information safe and secure from the threats and risks of an information breach.
Not everything your organization collects, stores, or handles is digital. When financial information or year-end results are printed, or when reports or agendas are circulated for a meeting, they are at risk of getting into the wrong hands if not handled and disposed of properly and securely.
And for that reason alone, every insurance company is at risk of an information breach regardless of size, type, or location.
Most businesses that work with private and confidential information are heavily regulated and governed. And laws designed to protect identities, financial data, and personal privacy come with strict rules – and strong fines for violating them. We can help you stay compliant.
In addition to your industry regulations governing information privacy, here are a few of the key information security laws that also apply.
Amends the Federal criminal code to establish penalties for aggravated identity theft for misuse of private information. Individuals caught and convicted of identity theft will receive 2 to 5 years of imprisonment.
Requires dealerships and financial institutions to create a written identity theft prevention program to detect, prevent, and mitigate identity theft. The Federal Trade Commission aims for a program that can help businesses spot suspicious patterns and prevent the costly consequences of identity theft.
Established to protect how patients’ health information can be used and disclosed. It governs the confidentiality of PHI and the secure destruction of any physical or digital data. Any violations are subject to fines up to $1.5 million.
Amends the Federal criminal code to establish penalties for aggravated identity theft for misuse of private information. Individuals caught and convicted of identity theft will receive 2 to 5 years of imprisonment.
Requires dealerships and financial institutions to create a written identity theft prevention program to detect, prevent, and mitigate identity theft. The Federal Trade Commission aims for a program that can help businesses spot suspicious patterns and prevent the costly consequences of identity theft.
Established to protect how patients’ health information can be used and disclosed. It governs the confidentiality of PHI and the secure destruction of any physical or digital data. Any violations are subject to fines up to $1.5 million.
In the insurance business, it’s safe to assume that most electronic materials you or your employees handle contain some form of confidential and sensitive information.
Whether its customer health records or property assessments, or your own financial forecasts and actuarial tables, you have a lot of information to secure.
If you create, collect, or dispose of these types of electronic media, you and your organization could be at-risk for an information breach.
Shred-it protects organizations' information for their people, customers and brands through secure shredding. With 30 years of experience, our primary focus on document confidentiality and security helps ensure your confidential information remains confidential. We offer paper, hard drive, and specialty scheduled shredding services for all forms of secure records and important documents. As a leader in the secure data destruction industry, we’re ready for you to provide us with the sensitive documents that you need us to shred or purge.
With the largest paper shredding fleet and the largest service footprint in North America, we are where you are.
With the most NAID AAA certified mobile/on-site and plant-based shredder facilities, we keep your sensitive information safe.
With the highest customer satisfaction among all vendors, we are 100% committed to your protection and satisfaction.
of insurance organizations
Stericycle, Data Protection Report, 2021
of insurance organizations
Stericycle, Data Protection Report, 2021