Who's at Fault When Cyber Attacks Occur? Todd Carlisle Answers in Business Alabama
Who is at fault when cyber theft or cyber attacks occur? Todd Carlisle, co-chair of Sirote's Privacy & Data Security Group, answered this question in an article titled “HACK THIS! Cyber security experts converge in Huntsville for a bewildering test of hacking skills and a conference called TakeDownCon” that appears in the September 2013 issue of Business Alabama magazine.
“Banks and other financial institutions, businesses and security vendors are looking harder now at language in their agreements and contracts related to cyber security," Carlisle says. These contractual issues can result in significant litigation when a cyber security incident results in material financial loss.”
The developing market for cyber and data security insurance products has not matured at this point to a level where clarity exists as to whether and to what extent insurance coverage will be available for contractual disputes of this nature. This is an important area where knowledgeable insurance brokers and lawyers versed in the process of designing and implementing insurance programs can play a valuable role in reducing the adverse impact of cyber security incidents.
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