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Data Privacy And Security Must Be Key Components In Selecting A Business Partner That Will Handle Your Most Sensitive Information.

December 13, 2019

Why You Need A Partner Who Is Service Organization Control (SOC) 2 Certified.

The Digital and Information Age requires your Benefit Administrator have the proper security resources and technologies to protect your data and keep your personal information secure. The Contractors Plan, provided by Fringe Benefit Group, is one of the few Third Party Administrators in our industry who has made the significant investments necessary to earn the esteemed Service Organization Control (SOC) 2 security certification. 

Plain And Simple, SOC 2 Credentials Matter.

The SOC 2 standard is a measure of trust and accountability in a business’s data handling practices. You, no doubt, have seen news articles about businesses who failed to properly manage and protect their customers’ data.  Data privacy and security must be key components in selecting a business partner that will handle your most sensitive information.

These are the four main areas that the SOC 2 certification covers:

  1. Monitoring – A SOC 2-certified business is be able to fully monitor system access and usage, along with associated network matters such as user access privileges and has the best possible systems in place to monitor and guard against unauthorized access. This includes unauthorized access from human hackers or by software attacks.
  2. Alerting – Businesses are constantly under attack from global threats. The SOC 2 requires robust alert systems to notify organizations when possible threats or attacks might be occurring.  Just a few areas that The Contractors Plan monitors 24 x 7 include unauthorized file transfers, account access, or changes to data.
  3. Auditing – To be SOC 2-certified, organizations must have auditing systems capable of producing detailed logs of system access, changes, and alerts. The Contractors Plan maintains audit trails covering modification of system components, data changes, and the source of incoming connections.
  4. Forensics – Quickly responding to threats, identifying their source, and understanding the scope of the attack are all critical in stopping attacks. Having best of class forensics systems in place enables the Contractors Plan to offer assurance that any attacks will be dealt with via best security practices, with an eye towards minimizing any harm done.