FOCUS ON COVERAGE AND INSURANCE


Developing Strategies and Devising Coverages to Combat Ransomware Threats

April 12, 2018 8:15am

Joshua Gold
Shareholder
Anderson Kill P.C. (New York, NY)

Monique Ferraro
Cyber Counsel
Hartford Steam Boilers (New York, NY)

Bill Hayden, FIP/CIPM/CIPP
Senior Attorney Corporate, External & Legal Affairs
Microsoft Corporation (Redmond, WA)

  • Understanding the newest risk in ransomware attacks
  • Addressing system failures and inability to access computers and data
    • Assessing system failures from the vendor perspective
    • Building and testing proper business continuity
  • Exploring the method of demanding ransom in the form of bitcoins
  • Utilizing blockchain technology to trace ransom attacks
  • Re-drafting cyber policies and tightening exclusions in cyber policies after the surge in ransomware attacks
  • Analyzing kidnapping and ransomware coverage to include ransomware attacks and the resulting litigation that follows
  • Retaining the appropriate forensic experts to identify the vulnerabilities and strengthen the weaknesses in an internal system
  • Implementing risk management and better training for employees to reduce cyber attacks, phishing emails, viruses, and other data breaches