The High Stakes, High Seas Cyber Peril
Posted on Dec 12, 2017 in Cybersecurity, Litigation | Comments Off on The High Stakes, High Seas Cyber Peril
Those who work in shipping are accustomed to the perils of the high seas, whether from storms, pirates, floods or fires. But now, a new danger is lurking—the possibility of a cyberattack. Despite the growing prevalence and severity of cyberattacks across industries, the shipping industry as a whole has been slow to react, and many are less than optimally prepared. When it comes to...
Is a cyber-attack ”Force Majeure”? Je ne crois pas!
Posted on Dec 8, 2017 in Cybersecurity | Comments Off on Is a cyber-attack ”Force Majeure”? Je ne crois pas!
Force majeure clauses are designed to address the risk of events which arise during the course of a contract and are beyond the control of the parties. These clauses can operate to suspend the performance of obligations for the duration of the force majeure and without liability, affording the affected party the opportunity to restore business-as-usual operations. They are the...
Cybersecurity is a Texas-Size Problem
Posted on Dec 4, 2017 in Cybersecurity | Comments Off on Cybersecurity is a Texas-Size Problem
Being home to one of the nation’s busiest ports, a world-renowned medical center and an epicenter of North American energy production is undoubtedly good for Texas businesses. However, Texas industries are increasingly becoming targets of global hackers. When it comes to cybersecurity, Texas has a bullseye painted on its back, and the cavalry won’t be riding to the rescue any time...
NAIC Takes Major Step Toward Final Approval of Insurance Data Security Model Law
Posted on Aug 14, 2017 in Uncategorized | Comments Off on NAIC Takes Major Step Toward Final Approval of Insurance Data Security Model Law
In a flurry of approvals last week, the National Association of Insurance Commissioners (NAIC) took substantial steps toward finalizing its proposed Insurance Data Security Model Law during the 2017 NAIC Summer National Meeting in Philadelphia. The Model Law establishes minimum cybersecurity standards consistent with New York’s cybersecurity regulation. The approval of the Model Law by...
Toward a Culture of Continuous Cybersecurity
Posted on Aug 10, 2017 in Cybersecurity | Comments Off on Toward a Culture of Continuous Cybersecurity
The SEC’s Office of Compliance Inspections and Examinations (OCIE) just issued a “Risk Alert” containing the results of its Cybersecurity 2 Initiative. In their article for Law360, which analyzes the OCIE Alert, Eversheds Sutherland (US) Partners Michael Bahar and Brian Rubin write that the SEC supports the notion that effective cybersecurity is not a matter of one-and-done, but rather...
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