Global Data Breach and Cyber Insurance Trends

Posted by: Ernie Watts - Global Chamber on Wednesday, September 18, 2019

Cybersecurity has become a top priority for businesses around the world, no matter size or industry.

What are the data breach trends? And what are the financial implications of common cyber-attacks?

We discussed with 3 experts, and we were startled to learn, for instance, that the Polsinelli office in Chicago handles 3-5 new cases of cybersecurity for their clients... every business day. One half of those are ransomware.

If you haven't done anything specific to protect your business from ransomware, you're likely vulnerable, and we encourage you to take action. The speakers went through a variety of scenarios that you should consider.

List to the conversation HERE. Our speakers...

  • Bruce Radke - Shareholder / Tech Transactions and Data Privacy Practice at Polsinelli

  • Michael Waters - Shareholder / Tech Transactions and Data Privacy Practice at Polsinelli

  • Max Perkins - SVP Global Cyber & Technology, Global Professional & Financial Risks at Lockton International

Speaker Biographies

Bruce Radke - Shareholder / Tech Transactions and Data Privacy Practice at Polsinelli

Bruce A. Radke is a Shareholder and a member of the Tech Transactions & Data Privacy practice.  Bruce is Co-Chair of the firm's Privacy and Cybersecurity practice group.  He has been selected by his peers as a Leading Lawyer in Data Privacy and Computer & Technology Law. Bruce regularly counsels clients on various privacy and data security issues. He has drafted and reviewed data privacy and security policies and procedures to ensure compliance with HIPAA, HITECH, COPPA, GLBA, Payment Card Industry (PCI) Data Security Standards, state breach notification laws, international data security laws, including the GDPR, and other contractual and privacy-related laws and regulations. Additionally, he regularly assists clients with privacy risk assessments and provides board counseling and employee training.   Bruce has counseled clients in the development and implementation of data incident response plans. Bruce has assisted clients through various types of data incidents, from system-wide network intrusions and ransomware attacks to cyber extortion, fraudulent wire transfers, e-mail account compromises, stolen computer hardware and employee misconduct.  Bruce has served a broad range of private- and public-sector clients in multiple industry verticals, including banking and financial services, health care, life sciences, not-for-profit and for-profit education, e-commerce, technology, retail, manufacturing, trade associations, state and local government, accounting, legal and other professional services.  

 

Michael Waters - Shareholder / Tech Transactions and Data Privacy Practice at Polsinelli

Michael Waters is an experienced litigator and member of the Tech Transactions & Data Privacy practice.  He handled one of the first data breach matters shortly after California passed its breach notification law in 2003 and has since counseled clients across industries through nearly every conceivable type of breach, from system-wide network intrusions and ransomware attacks to situations involving cyber extortion, stolen laptops and computer hardware, email compromises, wire fraud and employee wrongdoing. Michael regularly assists companies in investigations opened by enforcement agencies post-breach, including investigations by State Attorneys General, the U.S. Department of Health and Human Services Office for Civil Rights, and state and federal financial, insurance and education enforcement agencies. He also assists clients in managing the privacy risks associated with maintaining and transferring information.  This includes counseling clients on statutory and contractual data protection requirements, drafting privacy related policies and procedures, GDPR counseling, and providing board counseling and employee training.

 

Max Perkins - SVP Global Cyber & Technology, Global Professional & Financial Risks at Lockton International

Max leads Lockton’s Southeast Series Cyber & Professional Liability practice as well as continuing to have responsibility for certain client relationships and product development as part of Lockton’s London-based Global Cyber & Technology team. He helps clients manage their professional liability, cyber, intellectual property, media and other emerging intangible risks such as reputational harm. 

Max is recognized as an expert in cyber liability insurance and speaks regularly at the largest global risk management and cyber liability conferences such as RIMS, PLUS, NetDiligence, and Advisen. He is the recipient of the 2017 Insurance Insider Cyber Broker of the Year award for the London Market. He is also relied on by the media, government, and educational institutions for commentary and insight into emerging intangible risks.

 

About Global Chamber®: Global Chamber® is a growing and collaborating community of CEOs, executives and leaders in 525 metro regions around the world... connecting members businesses to new opportunities and advancing growth and success. Global Chamber® is a registered trademark of Global Chamber, LLC.

 

 

 

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