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This weeks judgement by Washington State Attorney General Bob Ferguson on Premera’s data breach, records an actual legal cost of $84Mn. On-par with Marriott and BA.
US health insurer Premera Blue Cross has agreed to pay US states $10Mn to settle claims, on the grounds that it failed to maintain compliance to the US HIPPA act. This on top of the $74Mn they have set aside to pay a class action law suits filed by customer. Which in turn is over and above the costs of re-mediating the breach.
What has been agreed by both parties, in terms of a consent decree is highly significant. The decree sets out a clear plan of action to ensure security compliance. Premera must clearly map all its critical data, inside and outside of its networks; Hire a Chief information Security Officer(CISO) separate from the CIO, to design and implement a security programme; The CISO will meet regularly with the board and the CEO every 2 months to review security compliance; All security related actions are aligned to legal requirements to protect client data.
All-in-all it feels like an interesting week. With fines and intentions to fine being issued for failures to comply to data protection regulation.
The question is, will this start to have an impact on the corporate cyber security?
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