For the past decade, the duty of corporate directors to oversee corporate risk has become more and more pronounced. Over the past several years, however, cyber and data handling risks have emerged as perhaps the most challenging of the areas requiring board oversight.
The value of insight is rarely doubted, but when it comes to company data, an enterprise’s knowledge is often ambiguous at best. While many IT departments have attempted to rectify company practices, tech habits that can vary significantly from employee to employee often render organizations vulnerable to security breaches, illegal behavior and compliance violations.
The day two plenary session at Legaltech New York, “Mitigating Risk with Information Governance and Insight,” brought together some of the best legal minds at the intersection of information governance (IG) and law in effort to shed light on how crucial it is for enterprises to develop a greater understanding of the data they possess. [Read more…]
As we welcome in 2016, awareness of the variety of information-related risks confronting today’s enterprises, and the availability of insurance covering those risks, is at an all time high. High profile data breaches caused by negligent or non-compliant employees and hackers, ransomware attacks, and social engineering scams have motivated many companies to transfer some of their cyber risks with cyber insurance. But companies that also take steps to better manage their information assets not only improve their cyber risk profile; they also put themselves in better position to secure more favorable cyber insurance coverage terms and rates. [Read more…]
Ensuring that you have effective ethical standards and governance for using customer data can ensure that your organization gains the benefits of Big Data, while managing the associated risks. Consumers are likely to expect such transparency more and more, and a healthy dose of self-regulation may prove to be the best way to avoid outside regulation.
Judy has been featured in the October/November 2015 edition of The European Financial Review. You can read it here.
Given that boards can be sued following a cyberbreach, board members need to prioritize cybersecurity and establish a culture of security awareness throughout the organization, according to Judy Selby, partner at Baker Hostetler and co-leader of the firm’s information governance team.