Breaches cause an immense headache for businesses, not to mention the financial toll they can take due to damage control and loss of business. The government has tried to help prevent such breaches through laws and regulations such as the Health Insurance Portability and Accountability Act (HIPAA) and PCI Data Security Standard. They provide guidelines for how to handle, store, and protect sensitive information. Lately, cyber security risk has become an important factor for plan sponsors.
