On May 7, 2014, Christopher Yetka from Barnes & Thornburg’s Policyholder Insurance Recovery Group presented a breakfast seminar with Dan Hanson from Marsh & McLennan Agency entitled "Cyber Risk: The Cost of a Breach." The presentation included a discussion of how data losses can occur, and the nature of their discovery. Tips on how to immediately respond to a data discovery were analyzed, along with requirements under the various state and federal laws to notify those whose data has been compromised. The short and long-term consequences of a breach, including lost income, damage to reputation, regulatory fines, and third and first party losses were presented. Finally, Chris and Dan discussed a number of ways to minimize risk, including not only insurance options and best practices, but also various enterprise risk management approaches to avoiding or minimize cyber liability. Approximately 60 business leaders attended at the Kitchi Gammi Club in Duluth, Minnesota.