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The Total Cost Of Ignorance

the spectrum. This application deploys a set of self-recovery tools to help users recover from viruses or system crashes; it also facilitates backup to external storage devices (www.pc.ibm.com/us/think/thinkvantagetech/rescuere covery.html); $60 for a single-user license).

Darwin Professional Underwriters Inc., a Farmington, Connecticut-based firm that underwrites specialty liability insurance, has developed TECH//404, a free calculator that estimates data loss costs for a variety of industries. Available at www.tech-404.com/calculator.html, the calculator generates the total costs per record lost, specifying the costs of internal investigations, notification/crisis management, and regulatory compliances. For example, losing 1,000 records in a security breach would cost a company approximately $166,000 for the following: consulting and lawyer fees ($49,000), certified mail customer notification ($13,000), credit monitoring for affected customers ($58,000), and federal/state fines ($46,000).


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