MAG Insights

Announcements from the MAG & Featured Articles

CyberRisk Hub Update (MAG Quarterly- Volume Four, Issue One)

March 3, 2016

Last September the MAG launched a new resource for MAG members, the CyberRisk Hub®. Read more to find out what users are focusing on. 

MAG users of the site find the following sections of the CyberRisk Hub® most popular:  Tools, News, the Incident Roadmap and the Learning Center.

Is your organization aware of the real costs of a breach? The 2015 Cyber Claims Study - eRiskHub® Exclusive Expanded Edition is available to MAG members and can be located within the Learning Center section or use the search box to search on 'claims study'. 

Some items noted in their "key findings section" include:

  • PII was the most frequently exposed data (45% of claims), followed by PCI (27%) and PHI (14%).
  • The largest breaches occurred in the Retail sector, followed by Healthcare.
  • There was insider involvement in 32% of the claims submitted.
  • The median claim was $76,984. The average claim was $673,767.
  • The average claim for a large company was $4.8 million, while the average claim in the Healthcare sector was $1.3 million.
  • The median cost for legal settlement was $50,000. The average cost for legal settlement was $880,839.

Additionally, within the Learning Center, the 5 most viewed articles are:

If you haven't registered to utilize this valuable member resource, click here.

Members can also view a brief webinar on how to register to utilize this resource as well as hear from a breach expert on how to prepare and prevent a breach. Click here

About the CyberRisk Hub®

This portal provides access to experts in the field as well as news, incident roadmaps, tools for Risk Mangers, etc. The MAG CyberRiskHub® is a private, mobile-friendly website that provides tools and resources to help MAG members understand their exposures, establish a response plan and minimize the effects of a breach on their organizations. It also serves as a Crisis Center, providing members with the information and technical resources they need to respond quickly and effectively to a data breach, privacy violation or other cyber incident. The portal is powered and maintained by NetDiligence®, a leading cyber risk assessment and data breach services company. We encourage you or someone on your team to register and utilize the tool.