Royal Group Services, LLC :: Products :: Data Breach Security Program for Merchants

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Privacy Assure^TM

As a financial services institution, you’re uniquely vulnerable to data breach. That means you’re also vulnerable to its potentially catastrophic costs.

18 million. In 2008, that’s how many records were stolen from financial services institutions—more than double that of 2007 (and projected to rise in 2009).

$282. That’s the average cost to a financial services institution per record lost, the highest of any industry.

$5 billion. That’s (conservatively) how much data breach cost financial services institutions in 2008, and it’s clear that data breach will cost them even more in 2009. More to the point, what these numbers mean is that your business—despite your state-of-the-art security efforts—is potentially vulnerable to catastrophic loss. (After all, any system involving people is vulnerable to human error, whether intentional or accidental.)

That’s why we’re introducing Privacy Assure^TM, a unique insurance product from Royal Group Services, the payment card industry insurance experts. Privacy Assure^TM is designed specifically for financial services institutions to help you meet the expenses resulting from the theft or loss of your customers’ confidential personal or corporate informa-tion—expenses that could easily jeopardize the future of your business—all for less each month than you’ll probably spend on lunch today.

Privacy Assure^TM covers:

•	Damages awarded for privacy violations and violations of HIPAA, Gramm-Leach-Biley Act, PCI-DSS, California Breach Notification Act (and similar state, federal, and foreign regulations), and the Red Flag Rules under FACTA
•	Expenses for notifying customers of data loss
•	Expenses for credit monitoring services for customers whose data have been compromised
•	Legal expenses for civil or regulatory proceedings, including arbitration
•	Expenses for PCI-DSS forensic examinations, assessments, and fines
•	Public relations defense and crisis management expenses

Privacy Assure^TM protects against more than computer hacking—it also protects against loss caused by employee dishonesty, third-party theft, physical theft of computer or paper records, or the simple carelessness of an employee or contractor who leaves personal or corporate information exposed or compromised. (By “personal information” we mean social security numbers, credit card and debit card numbers, bank and brokerage account numbers, medical and health care data, driver’s license and state identification numbers, and other information deemed personal by privacy regulations.)

What’s more, with Privacy Assure^TM you can customize your liability limits to meet the unique needs of your business, from $5 million to $35 million per year. Extended reporting periods are also available.

Unfortunately, the reality of data breach—particularly in the financial services industry—is not if, but when. Let Royal Group Services help you protect the future of your business.