Data Protection Risk creates huge responsibility and liability for companies, especially if data is compromised. Whilst a company may have gone to create lengths to protect their own data within day-to-day activities, knowing more about what their suppliers are also doing to combat against data protection risk, could help to prevent a breach further afield and halt any repercussions back on their own company.
Preventing data protection risk
- Evaluate what type of data information the supplier could have access too, which could affect your own business.
- Understand the digital technology and processes they use within their business to ascertain potential vulnerabilities.
- Check which security controls they have in place and ensure they are updated to include processes around cyber attacks.
- Create coherent training programmes which work for both businesses, in how data can be stored and shared between one another. Most data violation situations occur because employees are not suitably trained in how to handle data.
- Ask the supplier about their suppliers and if there are any other layers of access within the supply chain which may have a cyber risk impact on your business.
- Contact a reputable data protection risk insurer. A company like Crendon Insurance will want to understand your supply chain relationships. They will ask questions about data processes, so that the correct procedures can be put in place to protect customer data through the supply chain.
As a business owner, the more you are aware of your data processes throughout the supply chain from beginning to end user, the tighter the control you can implement to reduce data protection risk. The .GOV.UK website offers invaluable information about protecting data and what the regulation around UK GDPR data protection law.
To find out more please contact our data protection insurance team at Crendon Insurance. We specialise in data protection risk insurance, cyber liability insurance and digital technology insurance for UK business.
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