CSIA 300 University of Maryland Global Campus Data Breach Incident Analysis and Report

Padgett-Beale Inc.’s (PBI) insurance company, CyberOne Business and Casualty Insurance
Ltd, sent an audit team to review the company’s security policies,
processes, and plans. The auditors found that the majority of PBI’s operating
units did not have specific plans in place to address data breaches and, in
general, the company was deemed “not ready” to effectively prevent and/or
respond to a major data breach. The insurance company has indicated that it
will not renew PBI’s cyber insurance policy if PBI does not address this
deficiency by putting an effective data breach response policy and plan in
place. PBI’s executive leadership team
has established an internal task force to address these problems and close the
gaps because they know that the company cannot afford to have its cyber
insurance policy cancelled.