Cyber Risk Management
In the realm of hospitality and gaming risk management, “securing data against unauthorized and unintentional disclosure continues to be elusive” and consistently presents itself as a problem. It is important to emphasize the need for a “strategy that includes careful contracting, quality insurance coverage, and cyber security due diligence” to fight against hacks.
“One federal court of appeals reinstated class action litigation against a large retailer that had been hacked. Another federal appeals court affirmed the Federal Trade Commission’s power to police business’ cyber security for consumer information.Reading the tea leaves, 2016 does not promise to be any better.”
Joshua Gold and Marshall Gilinsky highlight the importance of risk management and insurance coverage. They explore FTC requirements, key steps to take in order to secure data, insurance coverage focusing on “cyber-losses”, and examining your coverage.
Read the full article here.