Following a number of high-profile cyberattacks around the world last spring in which corporate data was encrypted and then held for ransom by hackers, questions were raised in Canada's C-Suites that had rarely been discussed before: Do we need cyber- and ransomware insurance to help protect us if we become the next victim?
With attacks a daily occurrence throughout the world, cyberinsurance seems to be an almost mandatory requirement for most firms and many government departments. Anyone thinking the problem might go away should heed the words of Baker & McKenzie's Dean Dolan: "It's going to be a really rough few years ahead. It's going to get worse before it gets better."
Lexpert contributor Paul McLaughlin reports at www.expert.ca.
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