As I have noted in prior posts on this site, cybersecurity issues can lead to D&O claims. In the following guest post, Rachel Soich, FCAS, MAAA. Consulting Actuary at Milliman, considers steps that companies can take to avoid cyber-related D&O costs. A prior version of this article previously was published in Milliman Insight. I would like to thank Rachel for allowing me to publish her article as a guest post on this site. I welcome guest post submissions from responsible authors on topics of interest to this blog’s readers. Please contact me directly if you would like to submit a guest post. Here is Rachel’s article.
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Why Corporate America Needs a Strong D&O Insurance Market
In the following guest post, Paul Ferrillo takes a look at the current state of the D&O insurance market and provides his views on the importance of a healthy D&O market for corporate America. Paul is a shareholder in the Greenberg Traurig law firm’s Cybersecurity, Privacy, and Crisis Management Practice. I would like to thank Paul for his willingness to allow me to publish his article on this site. I welcome guest post submissions from responsible authors on topics of interest to this blog’s readers. Please contact me directly if you would like to submit a guest post. Here is Paul’s article.
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Guest Post: The Missing Link of Cybersecurity — Time for a Cyber Risk Check-Up
The threats to data security are substantial. Every organization faces some level of cyber risk. So how do we get better at cybersecurity? That is the question that Paul Ferrillo and Christophe Veltsos ask in the following guest post. Paul is a shareholder in the Greenberg Traurig law firm’s Cybersecurity, Privacy, and Crisis Management Practice. Chris is is a professor in the Department of Computer Information Science at Minnesota State University, Mankato where he regularly teaches Information Security and Information Warfare classes. I would like to thank Paul and Chris for their willingness to allow me to publish their article as a guest post. I welcome guest post submissions from responsible authors on topics of interest to this blog’s readers. Please contact me directly if you would like to submit a guest post. Paul and Chris’s article is set out below. Please be sure to also see the item at the end of the post about International Women’s Day.
Continue Reading Guest Post: The Missing Link of Cybersecurity — Time for a Cyber Risk Check-Up
Guest Post: Cybersecurity and Privacy Diligence: Incident Response and Business Continuity Planning
The disclosure of yet another massive cyber breach at yet another company has become a weekly occurrence. These recurring events have a number of implications, which include not only what companies need to do to try to prevent these kinds of events, but also how companies need to prepare in order to be able to…
Guest Post: Hack to the Future: Ten Cyber Risk Developments Watch in 2015
Without a doubt, during 2014, cyber security emerged as one of the critical topics for discussion. In the following guest post, Bill Boeck, who is senior legal and claim resource worldwide for cyber and executive risk coverages and claims at Lockton Financial Service, takes a look at the top cyber risk developments to watch in…
That Time the Entire Cyber Security Exposure Narrative Changed
The hack attack on Sony Pictures Entertainment was massive, and it had a devastating effect on the company. As detailed in the December 30, 2014 Wall Street Journal article entitled “Behind the Scenes at Sony as Hacking Crisis Unfolded,” (here), the hackers who attacked Sony’s systems didn’t just pilfer the company’s data — …
Quick Hits: Cyber Breach Inevitability, Insider Trading Law, and Accountant Liability
Over the past several days there have been a number of items that will be of interest to readers of this blog, which I note briefly here.
First, an article in the December 20, 2014 Wall Street Journal entitled “Sony Made It Easy, But Any of Us Could Get Hacked” (here), contends that …
Up Next: Cyber Insurance Requirements for Banks?
As I noted in a post last week, in a speech earlier this month in which she outlined the steps bank boards can take to address cybersecurity issues, Sarah Raskin, the second-ranking official at the U.S. Department of Treasury, laid out the reasons why banking institutions should be investing in cyber insurance. This speech …
Top Treasury Official’s Speech Urges Adoption of Cyber Risk Insurance
Officials across a range of federal regulatory agencies have made it clear that promoting cyber security is an increasing priority. A critical part of the federal officials’ message has been the message that cyber security should be a corporate governance priority for company executives and corporate boards. For example, in a June 2014 speech, …
Wyndham Worldwide Board Hit with Cyber Breach-Related Derivative Lawsuit
In what is the latest example of the potential cybersecurity-related liability of corporate boards, a shareholder for Wyndham Worldwide Corporation has initiated a derivative lawsuit against certain directors and officers of the company, as well as against the company itself as nominal defendant, related to the three data breaches the company the company and its …