What You Should Know about Risk Governance and D&O Coverage
The typical D&O policy includes the costs of your legal defense and this can give your directors and officers a sense of security when it comes to covering legal expenses. Studies show that many legal cases are settled for low amounts or dismissed altogether. Though this is good news for your company, the truth of the matter is that your defense expenses can be exhausted rather quickly.
Directors Liability Insurance
With so much cyber theft taking place each year, the topic of providing adequate D&O coverage has taken on a new perspective. Of course, some type of D&O coverage is much better than none at all. However, when claims exceed normal parameters, a good legal defense can cost significantly more than expected. It’s the duty of your lawyers to provide the best defense in any claim and this sometimes means that extensive investigations will arise. Expert legal witnesses may have to be called. Though your managers and directors work hard to do their best each day, not all cases can end well for your company.
Improved Board Communication
At Cybernance, we understand that cyber security must include solutions at every level of your operations in order to be effective. Our Cybergovernance Maturity Oversight Model (CMOM) provides fast visibility into your security network and this results in your management staff being able to mitigate cyber risks much quicker.
This is a thorough solution that not only helps each department to identify weak areas, but it also encourages interdepartmental collaboration. This can enable your company to better control data and information breaches. We’ve created an SaaS platform that gives your executive management staff superior power over your company’s cyber security. Please contact Cybernance today to find out how your business can be better prepared from cyber risks.
Get more in-depth coverage with the Cybergovernance Journal
In times of a cyber breach, fast communications are crucial to stop it. Yet many corporate heads are not sure how to handle the cyber risk issue.
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