Click here for current COVID-19 information and resources relating to Cyberliability & Data SecurityThe cyberliability and data security attorneys at Partridge Snow & Hahn comprise a multi-disciplinary team with expertise in corporate law, employment law, intellectual property law, technology, privacy, risk management and litigation. We assist clients both in up-front counselling to mitigate risk, and in pursuing and defending litigation claims when disputes arise. We are especially useful in coordinating between different functional areas and identifying gaps in the company’s defenses.
Some of the ways we assist clients are:
- Advising with respect to compliance obligations under international, U.S. and state laws and regulations
- Developing and reviewing policies and procedures for data privacy, protection, retention, and destruction
- Reviewing and developing policies and procedures for the work place
- Evaluating insurance policies and identifying gaps in coverage
- Reviewing and negotiating Master Services Agreements and related software and technology agreements with third party vendors and cloud service providers
- Advising with respect to the implementation of data breach response plans
At Partridge Snow & Hahn, we have developed a cyber-readiness program based on the items below. The program is designed to identify organizational gaps and help clients implement policies, practices, and procedures that will help reduce the risk of cyber-attacks and create better preparedness to respond to incidents.
The Challenge. Do you know what operational, HR, insurance, contractual and IT protections are in place to safeguard your business from a cyber-attack, or limit your exposure to losses from a cyber-breach? Who is looking at your entire business to tie everything together and identify gaps that could make you vulnerable?
Attack on your entire company. A cyber breach is more than an inconvenience. In could disrupt everything, causing a public relations disaster, leading to serious reputational damage, a loss of customers, employee flight, loan defaults, and blacklisting by suppliers or customers. Your company could be the subject of lawsuits, which may or may not be covered by insurance, further diverting valuable time and resources.
Economic cost. Recent studies have shown that the average cost of a data breach in 2018 for small and medium businesses is $120,000, and much more for larger companies. Could your company survive this unexpected expense? Is your insurance coverage adequate?
Collateral damage. Damages from a cyber-attack are more than just direct financial losses, costs of investigation, and costs for remediation. After your company has performed a thorough investigation, state and Federal laws may require you to report the breach to government agencies and communicate with employees, customers, lenders, investors, and other 3rd parties. While your company’s cyber insurance policy may provide coverage for some of these costs, company personnel time is not included under such policies, and could be substantial.
Cyber readiness requires everyone’s participation. Cyber compliance is an enterprise wide responsibility, is ongoing, and is not limited to your IT department. Less than one-half of all breaches are caused by malicious or criminal attacks. System glitches, human error and employee negligence cause the rest. As a result, your company’s officers and directors, as well as its leaders in IT, HR, operations, and finance, all need to be coordinated, and your employees need to be educated, in order for your company to be highly prepared.
We can help you prepare. Partridge Snow & Hahn regularly advises companies who have suffered breaches, and has seen the high costs of investigation and remediation. We believe that spending time and resources on prevention and reducing risk is a better approach. Simply put, if you aren’t prepared, you are at risk.
- July 16, 2020 - The COVID-19 pandemic has forced many businesses online in order to survive. In many cases, businesses had no plans to be online. Others were forced to move online more quickly than planned. In order to assist these businesses, we have prepared a series of articles discussing some of the more important legal issues to address when moving your business online. Click here for the full series.
- March 27, 2020 - With many companies adjusting to fully remote operations, it is important to be aware of possible cyberattacks that companies are especially vulnerable to. For information on specific coronavirus scams to watch out for, visit the Federal Trade Commission website.