Karen works as an IT specialist for a major insurance company. The company collects large amounts of information from its customers including credit card information, personal information such as address, telephone number, date of birth and license number and health information such as illnesses, health treatments and hospital procedures. Karen's role requires her to develop rules and procedures of how this information should be stored, who in the business will have access to this highly confidential and personal information and for what purpose and how the information will be kept secure.

Discuss three (3) organisational benefits of an information governance strategy applicable to the insurance company. What are two (2) potential issues with implementing an information governance strategy?