For several years now, we have been advising our clients on all issues related to the risk of cybersecurity. This includes first and foremost the risk of becoming a victim of a targeted cyberattack as a company, especially in the form of encryption Trojans and associated ransomware. In addition, there are numerous other forms of cybercrime (e.g., CEO fraud/fake president fraud and business email compromise). However, cyber risk also includes further dangers posed by digitalisation and data communication, especially the risk of data protection breaches.
For companies and their insurers, these risks and the management of their consequences can incur immense financial damages and loss of image. Our specialised team of lawyers have been involved in this nascent insurance sector from the very beginning and have therefore gathered significant experience in the successful support and settlement of claims. We advise our insurance clients on both stand-alone and comprehensive cyber insurance policies as well as traditional insurance policies that extend coverage to cyber risks.
The services offered by our team range from damage monitoring, out-of-court counselling and in-court representation in liability and coverage proceedings to product design support. Through our range of services, we have not only built up our own legal, business and technical expertise with our team of lawyers, but have also supplemented and strengthened our services by involving specialised IT service professionals, fraud specialists, PR consultants, experts and other professionals. Since cyber incidents are not bound by international borders due to today’s global networking and supply chains that link globally active companies, we involve cyber specialists from our international lawyer network, Legalign Global, in damages cases involving foreign entities.