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A nice article highlighting the effect of the SEC cyber rule on firms outside of the U.S, specifically Latin America and the Caribbean. It discusses the effects of the SEC rule on board exposure to litigation risk and the effects this could have on cyber and D&O insurance. Being incumbent on boards to evaluate their insurance coverage, in case cyber is excluded. Noting that policies were written before cyber regulations such as the SEC rule were implemented.
‘These regulations just come to show how increasingly global and interconnected cyber risks can be and serve as a warning to our clients in Latin America and the Caribbean that new risks and liabilities can emerge from unlikely places.’
It’s important to note that EU cyber regulations including NIS 2 and DORA are similar in scope to the SEC rule. Affecting boards of covered companies that trade in or with the EU.
Ted Dziekanowski Brian D. McCarthy
Veritas GRC
#cybersecurity #cyberriskmanagement #cyberregulation
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