Data Breaches

According to the latest research from Gartner, worldwide spending on information security products and services will likely reach $81.6 billion in 2016.

These two new HIPAA settlements are meant to send a strong message about enforcement and accountability. The result for one of those cases was a record-setting settlement of $5.55 million.

As organizations work to determine their overall risk and risk response plans, data breach cost is an important figure in these calculations. But the science of estimating the total costs of a data breach cost remains elusive.

The Department of Health and Human Services (HHS) Office for Civil Rights (OCR) announced its first resolution agreement with a business associate in June.

The average cost of a data breach continues to rise, up to $4 million per incident, over 2015 figures of $3.79 million. Since 2013, there has been a 29% increase in the average cost of data breaches.