You may have heard . . .
• A phishing email to a heating, ventilation, and air-conditioning contractor caused the Target data breach of 110 million records.
• A five-year-old successfully hacked Microsoft’s Xbox Live.
• Two-thirds of the entire Internet has been exposed to an undetected security leak since March 2012 (Heartbleed).
Cyber risk is dominating the headlines and has become a mainstay in the world of corporate risk management. It is incumbent on risk managers, general counsel, and chief information/security officers to appreciate the risk and be conversant in the legal landscape and ever-evolving cyber insurance marketplace in order to effectively assess and tailor their insurance program to match the growing threat.