The article opens:
Most risk managers might not be information technology experts, but they can effectively manage cyber risks by applying their expertise in such areas as contract risks, assessing the value of exposures and communicating the potential impact of exposures across their organizations.
The article provides viewpoints from multiple people who deal with risk management, cyber risk, and insurance issues.??Business Insurance quotes a risk manager, underwriter, and a broker.??Business Insurance also?quoted me in the article, writing:
Using last year?s California Supreme Court ruling in Pineda vs. Williams Sonoma Stores Inc. that held that ZIP codes can be considered personally identifiable information in certain cases as an example, ?It?s really quite a changing time in terms of what?s out there in terms of risks and what companies? potential risks and liabilities might be,? said Scott N. Godes, of counsel in the insurance coverage practice at Dickstein Shapiro L.L.P. in Washington.
?We now have 46 states with data breach notification statutes. There?s pending legislation in Congress,? Mr. Godes said. In addition, the U.S. Securities and Exchange Commission has produced cyber security disclosure guidance requiring publicly traded companies to disclose their cyber risks to investors and makes those companies? boards responsible for assessing their exposures and taking appropriate steps to address them, he said.
?Because of the ongoing changes, it?s certainly something companies need to be paying attention to,? he said.
Want to read the other opinions and thoughts offered on the subject?? Then click on over to?Risk managers? expertise valuable in cyber risk efforts to read the entire article.
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