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Organizations looking to protect themselves from the financial and reputational impact of a data breach need to have a robust and carefully strategized response plan in place, and that response plan begins with an effective notification strategy. The execution of the strategy can impact everything from regulatory penalties to class action litigation, to the trust of clients, partners, and employees.
As offered in the Epiq article:
- Preparations and planning will help with timely and effective responses and subsequent mitigation measures
- Notification must meet timelines established in multiple jurisdictions. For example, Breaches involving EU residents under GDPR require notification within 72 hours while the state of Maryland requires notification within 45 days of discovery of a breach.
- Retain breach counsel to help manage these complex and fast-moving responses responsibly.
- Notify insurance brokers and carriers quickly. Timely notification of insurance carriers demonstrates that your organization is managing the breach effectively.
- Establish a single voice from management to avoid mixed messages.
- Address any reputation impact and organizational trust concerns.
Note that your contract may have additional notification requirements.
Read more of the Epiq article here.
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