(everything below is on the attachment) Scenario Padgett-Beale Inc.’s (PBI) insu

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(everything below is on the attachment)
Scenario
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.
Unfortunately, due to the sensitivity of the issues, no
management interns will be allowed to shadow the task force members as they
work on this high priority initiative. The Chief of Staff (CoS), however, is
not one to let a good learning opportunity go to waste … especially for the
management interns. Your assignment from the CoS is to review a set of news
articles, legal opinions, and court documents for multiple data breaches that
affected a competitor, Marriott International (Starwood Hotels division). After
you have done so, the CoS has asked that you write a research report that can
be shared with middle managers and senior staff to help them understand the
problems and issues arising from legal actions taken against Marriott
International in response to this data breach in one of its subsidiaries
(Starwood Hotels).
Write
Write a
three to five (3-5) page report using your research. At a minimum, your report
must include the following:
1. An
introduction or overview of the problem (cyber insurance company’s audit
findings regarding the company’s lack of readiness to respond to data breaches).
This introduction should be suitable for an executive audience and should
explain what cyber insurance is and why the company needs it.
2. An
analysis section in which you discuss the following:
a. Specific
types of data involved in the Starwood Hotels data breaches and the harm
b. Findings
by government agencies / courts regarding actions Starwood Hotels / Marriott
International should have taken
c. Findings
by government agencies / courts regarding liability and penalties (fines) assessed
against Marriott International.
3.
A review of best practices which includes 5 or
more specific recommendations that should be implemented as part of Padgett-Beale’s
updated data breach response policy and plans. Your review should identify and
discuss at least one best practice for each of the following areas: people, processes, policies and technologies.
(This means that one of the four areas will have two recommendations for a
total of 5.)
4.
A closing section (summary) in which you summarize
the issues and your recommendations for policies, processes, and/or
technologies that Padgett-Beale, Inc. should implement.
Sources
1. Research
the types of insurance coverage that apply to data breaches. Pay attention to
the security measures required by the insurance companies before they will
grant coverage (“underwriting requirements”) and provisions for technical
support from the insurer in the event of a breach. Here are three resources to
help you get started.
a. https://woodruffsawyer.com/wp-content/uploads/2019/06/40842_Woodruff-Sawyer-Cyber-Buying-Guide_Final.pdf
b. https://www.travelers.com/cyber-insurance
c. https://wsandco.com/cyber-liability/cyber-basics/
2. Read
/ Review at least 3 of the following documents about the Marriott International
/ Starwood Hotels data breach and liability lawsuits.
a. https://www.insurancejournal.com/news/national/2018/12/03/510811.htm
b. https://ico.org.uk/about-the-ico/news-and-events/news-and-blogs/2020/10/ico-fines-marriott-international-inc-184million-for-failing-to-keep-customers-personal-data-secure/
c. https://www.bbc.com/news/technology-54748843
d. http://starwoodstag.wpengine.com/wp-content/uploads/2019/05/us-en_First-Response.pdf
e. https://www.consumer.ftc.gov/blog/2018/12/marriott-data-breach
f. https://news.marriott.com/2019/07/marriott-international-update-on-starwood-reservation-database-security-incident/
3. Find
and review at least one additional resource on your own that provides information
about data breaches and/or best practices for preventing and responding to such
incidents.
4. Using
all of your readings, identify at least 5 best practices that you can recommend
to Padgett-Beale’s leadership team as it works to improve its data breach
response policy and plans.

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