Mitigating Economic Cyber Risk: Essentials of Insurance Coverage

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Cyber risk management has become a critical necessity for every business. It involves identifying, analyzing and addressing current cybersecurity threats.  It is especially important for businesses, like law firms, who have multiple sources of liability due to the services they provide, the data they transmit and store, and the regulatory frameworks to which they are subject.  It is obviously important to have a decent information security program. Regardless of a firm’s technical defenses, however, there will always be residual economic risk – and cyber insurance and other insurance products can be a critical means of mitigating that risk.  This session will feature Sean Hoar and Seth Row, both of whom have extensive experience working with clients to address risks resulting from cybersecurity threats.  Sean, whose cybersecurity team responds to over 50 data breaches each week, will provide an outline of the current cybersecurity threats facing law firms and the resulting potential liabilities.  Seth, whose 20 years of practice has found solutions for clients in a variety of insurance products, will provide practical insights about how different types of insurance can mitigate the economic risk from cybersecurity threats.

Speakers:

Seth Row is a Partner in the Portland office of Stoel Rives and focuses on policyholder-side insurance recovery, involving a mix of litigation, counseling and behind-the-scenes advocacy to clients in multiple industries. In over 20 years of practice, Seth has helped clients recover millions of dollars under almost every variety of commercial insurance policy including general liability, employment practices, property and business income loss, builder’s risk, Directors & Officers, representations & warranties, marine, and cyber-risk, among others.  Seth obtained his law degree from Georgetown University Law Center, cum laude, and his Bachelor of Arts degree in History from Yale University.

Sean Hoar is a Partner in the Portland office of Constangy, Brooks, Smith & Prophete LLP, and Chair of its 75-member national Cyber Team. His background includes over 25 years of experience with data privacy and information security matters. He is a former cyber attorney for the U.S. Department of Justice where he worked closely with the FBI, the Secret Service, and other federal agencies in investigating and prosecuting complex white collar and high-tech cybercrime. His credentials include being a Global Information Security Professional (GISP), a Certified Information Systems Security Professional (CISSP), and a Certified Information Privacy Professional for United States law (CIPP/US). In managing the national Constangy Cyber Team, Sean continues to manage responses to complex data breaches, and works with information security personnel and corporate executives in managing and mitigating cyber risk.

When: Thursday, May 23, 2024, 12:00-1:00pm

Where: Microsoft Teams

Cost:

$15 for Technology Law members;

$20 for other bar members and non-lawyers;

$10 for students.

Click here to register.

MCLE Credit: The Technology Law Section will apply for 1 General CLE credit.