Underwriters Seeking Better D&O Risk
Company managers have become much more savvy about D&O liability insurance. This has come as a result of many years of corporate scandals where top key executives were held personally responsible for everything from poor accounting practices to data breaches.
Director and Officer Liability Insurance
It’s a small wonder that cyber security is one of the major topics of conversation in corporate America. Enterprise risk management was once a subject rarely discussed at board meetings and yet today it has become a major issue. Victims are finding their way to lawyers and mounting massive lawsuits against certain directors and officers, claiming that they failed to oversee proper protection of sensitive customer data.
If you’re the CFO, odds are that you’ve had a few anxious discussions with your Board of Directors about the current state of cyber risk. Corporations of all sizes have suffered cyber attacks in recent years. Even the Office of Personnel Management for our own government suffered a breach in early 2014 that was not reported right away and subsequently under-reported to those affected. This has left consumers very suspicious and concerned that no organization may be adequately protected against data breaches.
Cybersecurity and D&O Insurance
At Cybernance, we know the answer isn’t simple, but we do have the expertise to provide a whole new level of risk governance that encompasses every tier of cyber risk for your corporation. Our Cybergovernance Maturity Oversight Model offers a comprehensive SaaS platform that collects data on hundreds of cybersecurity controls within an organization and generates information required for directors and executive management to communicate with security staff and management without having to become technical experts. In addition, it indemnifies legal expenses incurred due to cybersecurity litigation.
Don’t take chances with your corporate and personal future. Instead contact Cybernance to find out how we can take the risk out of doing business in today’s digital world.
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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