Feature

Counting the cost of data theft

Ezine

This article can also be found in the Premium Editorial Download "Storage magazine: Surprise winner: BlueArc earns top NAS quality award honors."

Download it now to read this article plus other related content.

Storage managers do their best to protect stored data, but disaster can always strike, which is why a good disaster recovery budget should factor in the cost of data loss. Yet calculating that amount can be a hit-or-miss effort.

Darwin Professional Underwriters, a Farmington, CT-based specialty insurance group, is offering an online calculator to help organizations assess their financial risk from data theft. The tool, called Tech//404 (

Requires Free Membership to View

www.tech-404.com/calculator.html), uses a proprietary formula based on publicly available information to calculate the average expense of a data breach. For example, if a user loses 10,000 records and inputs that number, the calculator produces the resulting cost of internal investigations, crisis management and regulatory expense.

The site doesn't offer a way to figure out the substantial cost of potential civil lawsuits. But having some ballpark figures could be handy if your best-laid storage security plans ever go awry.


--Trina MacDonald

This was first published in June 2007

There are Comments. Add yours.

 
TIP: Want to include a code block in your comment? Use <pre> or <code> tags around the desired text. Ex: <code>insert code</code>

REGISTER or login:

Forgot Password?
By submitting you agree to receive email from TechTarget and its partners. If you reside outside of the United States, you consent to having your personal data transferred to and processed in the United States. Privacy
Sort by: OldestNewest

Forgot Password?

No problem! Submit your e-mail address below. We'll send you an email containing your password.

Your password has been sent to: