Hiscox comments on online data theft

7th April 2011

LONDON, UK, (7th April 2011): Following the recent online data hack where millions of names and email addresses were stolen, Matthew Norris, e-risk and privacy expert at specialist SME insurer Hiscox, comments:

"When SMEs outsource a function, they may find themselves responsible for another company’s mistake. For example, if a business out sources their marketing, they may need to give customer data to another company but remain ultimately responsible. The recent online cyber attack and hacking of customer details demonstrates how important it is to have a strategy to safeguard digital data with suppliers as well as in house."

"Companies should make sure they have their customers’ permission to give their details to a third party and check the company has secure online practices. A good way to do this is to request a copy of a recent, independent audit and ensure a contract is in place to make the supplier responsible for their own mistakes."

Ends

For further information please contact:

Hiscox Ltd

Johanna Boland

020 74486494

[email protected]

About Hiscox

Hiscox, the international specialist insurer, is headquartered in Bermuda and listed on the London Stock Exchange (LSE:HSX). There are three main underwriting parts of the Group - Hiscox London Market, Hiscox UK and Europe and Hiscox International. Hiscox London Market underwrites internationally traded business in the London Market - generally large or complex business which needs to be shared with other insurers or needs the international licences of Lloyd's. Hiscox UK and Hiscox Europe offer a range of specialist insurance for professionals and business customers, as well as high net worth individuals. Hiscox International includes operations in Bermuda, Guernsey and USA. Hiscox Insurance Company Limited, Hiscox Underwriting Limited, Hiscox Europe Underwriting Limited and Hiscox Syndicates Limited are authorised and regulated by the Financial Services Authority.

For further information, visit www.hiscox.com.


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