Unique Facts About D&O Liability Insurance
D&O insurance was designed to help the directors and officers of a company or non-profit organization deflect the financial consequences of management errors. Though most company directors strive to do their best in the course of their jobs, events do take place that provoke legal action on the part of those injured in some way.
The fact is that victims often want to allocate blame when something goes wrong. This can leave the directors and managers in a company at risk. Even the personal assets of a director can become a target during a lawsuit. D & O Insurance is there to help with legal expenses. This type of coverage can help the corporation itself, as well as members of the board of managerial staff members. But it often falls short of providing adequate help in times of cyber breaches.
Though today’s fast-paced world can offer many exciting opportunities for individuals and businesses, it also opens the door for thieves and can leave us all vulnerable to cyber threats. Whether it involves the government or private sector, everyone is a potential target these days. That’s where risk governance comes in. This method of trying to assess current cyber risks and even predict emerging risks, enables an organization to be more fully prepared. Risk governance also helps managers understand how to respond once a breach has taken place.
At Cybernance, we take cyber threats seriously and now offer a greater level of security that includes each level of risk for your managers and directors. Our platform based on Cybergovernance Maturity Oversight Model (CMOM) collects and organizes data on the cybersecurity components for your organization. This in turn generates vital information your directors and executive managers need in order to communicate with security staff. This is a more thorough product than regular D & O Insurance, as it indemnifies legal expenses incurred from cybersecurity lawsuits.
Cybernance is on your team. We specialize in taking the threats out of doing business in today’s digital world. Please contact us to learn more about D&O insurance.
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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