By Marty Stern
The recent rise in frequency and sophistication of cyber attacks underscores the reality that nearly every company faces some sort of risk. Data security breaches and distributed denial-of-service (DDoS) attacks, among others, can target every industry from financial markets to social media. News headlines have highlighted attacks and breaches involving Sony, Citi, the New York Times, and LivingSocial, among others. These attacks create increasing prevention, regulatory, insurance, and recovery costs, suggesting that companies need to be aware of these risks and implement policies and procedures to protect their infrastructure, data, intellectual property, and other assets in efforts to mitigate and avoid exposure.
A K&L Gates presentation entitled “What Your Company Needs to Know about Cybersecurity,” recently focused on these issues and a series of cybersecurity best practices, featuring K&L Gates partners Roberta Anderson, David Bateman, and Bruce Heiman. The program provided an introduction to managing Advanced Persistent Threats on data and infrastructure, understanding the legal and regulatory developments surrounding cybersecurity, dealing with agency and class-action litigation risks, as well mitigating loss through insurance coverage relating to cyber risks. Noting that no single approach provides a silver bullet, the panel discussed a comprehensive strategy, focusing on prevention and deterrence, pursuit of perpetrators, response to attacks, avoidance of legal/regulatory liability, and loss mitigation.
An audio archive of the webcast is available here (free registration required; password “klgates”). To download the presentation slides, click here. For the additional presentation materials, click here.