In-house attorney & CIO must work in tandem on cyber threats, Will Fagan in the Atlanta Business ChronicleJanuary 23, 2018
No longer is the chief information officer (CIO) a company’s sole defense in the battle to keep information safe. Today, the in-house counsel is at the forefront of protecting organizations from cyber threats internally and externally.
General counsels need to determine the value their companies put on cyber security, as well as the type and sensitivity of their data, said Will Fagan, general counsel and corporate secretary for Sterling Seacrest Partners, Inc.
While preventative measures are a must, companies also must be insured against cyber risks. While most policies such as worker’s comp or general liability are based on a set form, cyber has no such form. “Cyber is such a new and emerging field, the industry has not gotten to the point of having a set playbook,” Fagan said, adding that in-house counsel can assist in securing an experienced insurance broker who understands the company’s business and its inherent exposures. “Insurance carriers are writing it as they go.” Considering all that can happen to a company, this issue is near or at the top of the list of concerns.
“Cyber security is one thing that can really keep you up at night,” Fagan said.
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