According to the Ponemon Institute’s 2014 survey the estimated cost of notification is now $201 per record, up from 188 in 2013. The average cost per company also went up from 5.4 Million in 2013 to 5.9 Million in 2014. The average breached organization has less than 10,000 records and a mega breach involves more than 100,000 records including names and personal information of members.
The cost to insure this risk starts at a minimum premium of $1,000 for a $1,000,000 in liability and goes up proportionately based on the company’s revenues their industry amount of data and type of data stored.