The rash of data breaches in recent years has demonstrated that data security affects every company and its customers. CFOs approve IT spending, and are often responsible for handling repercussions of a breach. Sony, TJX Cos. and Hannaford supermarket chains have illustrated just how costly they can be. Data breaches “can absolutely impact your bottom line,” says Mike Dandini, head of the management and professional liability underwriting unit at The Hartford. Cyberinsurance is the second most asked about management liability product these days.”]
Source: https://www.csoonline.com/article/2130213/the-cfo-s-role-in-the-data-breach-war.html