AND THE IMPACT ON COMPANY DIRECTORS
A series of high profile data breach incidents have brought into spotlight the increasing regularity and number of incidents, the significant costs associated with such incidents and the potential exposure of Boards of Directors. In this publication, we look at some of the risks for directors around data breach incidents.
DIRECTORS AND OFFICERS
2014 was a busy year in the Directors and Officers (D & O) Liability sphere, and the trend we have observed shows the beginning of potential regulatory shifts that may have widespread impact on directors and officers. The issues where we continue to see on-going change are our class actions, cyber (and physical) security risks and increasing regulatory scrutiny by ASIC focusing on corporate responsibility.
WE’VE BEEN HACKED!
WHAT DO WE DO?
Since the start of 2015, there have been two serious hacking attacks in USA and in Australia. It is currently understood that up to 80 million records held by US health insurer, Anthem and up to 770,000 records held by travel Australian insurer, Aussie Travel Cover, were compromised in attacks. If these hacking attacks are an early indication of things to come, 2015 could be a very bad year the mass data breaches around the world and in Australia.