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Zarwin Baum Continued Its Breakfast Series with ‘Shifting Your Cyber Risk to Protect Your Bottom Line’

September 17, 2018

 

On Wednesday, September 5th Zarwin Baum continued its ongoing breakfast series with “Shifting Your Cyber Risk to Protect Your Bottom Line” – a cyber seminar lead by a panel of data security and privacy professionals. The panel included: Zarwin Baum Shareholder, Ted Schaer CIPP/USBeth Fitch CIPP/US of Righi Fitch Law GroupAileen Schwartz, Esq. of Hill International and Antonio Trotta, Esq. of Beazley Insurance

The esteemed panel led the audience through ways to properly vet third-party vendors in order to avoid cyber security weak links and how to leverage vendor contracts to protect your company.

The key takeaways from the panel discussion included:

  • To minimize your company’s cyber exposure carefully vet your vendors and mandate that they have adequate data and network security practices and policies
  • Company's should leverage their bargaining power to contractually transfer the costs and damages of a cyber security incident caused by their vendors to their vendors 
  • A broad form of cyber insurance policy is critical to transfer the financial risk of a cyber incursion 
  • Consult with a privacy lawyer to ensure that your vendor contracts properly and legally transfer cyber security risks to vendors 
  • Verify that your vendors have cyber insurance coverage that will adequately address any potential harm your business may suffer should a data breach occur through the acts of your vendor
  • Consult with a cyber insurance expert to ensure that your company has the proper coverage that is tailored to financial goals, exposures and that there are no gaps in your policy 

Zarwin Baum will be continuing its breakfast series on Wednesday, December 12th.

To continue the conversation, please contact Ted Schaer at tmschaer@zarwin.com.  

For additional information on the Zarwin Baum Cyber Breakfast Series please contact Rachel Charamella at rcharamella@zarwin.com.   


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