In an article published by Insurance Business Canada, CNA’s Andre Linsky discusses the responsibilities of Directors and Officers (D&O) in securing an organization’s cyber exposures and the potential liability risks faced from business stakeholders.

Directors and officers (D&O) face the risks and potential consequences of cyber exposures now more than ever. The risk of management liability in the face of a cyberattack is not a case of ‘if’ but ‘when’ for organizations across Canada and worldwide. As companies start to realize the enormity of the exposure – thanks to some high-profile data breaches and a dramatic uptick in ransomware and cyber extortion attacks - cyber has now gained a top priority spot on the boardroom agenda.  

D&Os have had to navigate through a more complex cybercrime arena during COVID-19. The pandemic ushered a 360-degree shift in business operations, and many companies switched to remote operating models almost overnight. This urgent transformation intensified commercial cyber risk and placed an extra onus on business leaders, including boardroom directors and officers, to ramp up their companies’ cybersecurity.

For more information and personal insights, read the full feature: ‘D&Os must allocate funds and effort to cybersecurity’ published in Insurance Business Canada.