Recently, some of the world’s most-sophisticated corporate giants have fallen victim to some of the largest data breaches in history. It is clear that cyberattacks are on the rise with unprecedented frequency, sophistication, and scale. They are pervasive across all industries and geographical boundaries.
The problem of cyber risk is exacerbated not only by increasingly sophisticated cyber criminals and evolving malware, but also by the trend in outsourcing data handling, processing, and/or storage to third-party vendors, including “cloud” providers, and by the simple reality of the modern business world, which is full of portable devices that may facilitate the loss of sensitive information.
While data breaches and other types of cyber risks are increasing, laws and regulations governing data security and privacy are also proliferating. Please join us as we review the latest legal and regulatory developments, explain the limitations of “legacy” insurance policies, and explore the newest cutting-edge “cyber” insurance products.
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