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$154 or 58 cents — what’s the real cost of a breached data record?

Written by Cio
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  • Cio
  • 2 years ago

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Does a data breach cost an average of 58 cents a record — or $154?

That’s a significant difference for companies preparing incident response plans, as well as for insurance companies, regulators, auditors and others looking to ensure that companies are adequately prepared or covered for such an event.

Ponemon Institute’s $154 number is based on an analysis of 350 companies that suffered breaches in 2014, and uses an analytical model based on the real costs of a breach that the company has been refining for a decade.

Verizon’s 58 cents calculation is based on 191 insurance claims filed in 2014, and this is the first year that Verizon has run these numbers.

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