Ransomware, Cyber Insurance and the GC's Role: Current Executive Order, Risks Related to Payment, FBI Guidance
Cybersecurity and privacy attorney Shardul Desai will join a Strafford webinar panel to discuss ransomware attacks and what companies to do to address the risks associated with them. Ransomware has become a multibillion-dollar criminal enterprise, and attacks can severely disrupt or even cripple operations. The increasing frequency of ransomware attacks and rising amounts of ransom payments have placed a new emphasis on cyber insurance coverage, but insurers themselves are under strain because of the uptick in attacks. During this webinar, speakers will provide an overview of ransomware attacks, including recent notable cases like the SolarWinds and Colonial Pipeline attacks, explain how general counsel can implement a ransomware contingency plan and when payment should be considered, and describe issues counsel should note when assessing cyber insurance policies. The discussion will also cover the Biden Administration's Executive Order instituting tech standards for businesses acting as government contractors to limit potential ransomware attacks as well as the success of other government enforcement actions.