A great article highlighting what cyber regulation means for Danish boards, and D&O insurance.

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A great article highlighting what cyber regulation means for Danish boards, and D&O insurance. Especially EU NIS2.EU NIS 2 sets out explicitly the roles and responsibilities of the board for cyber risk management, to be transposed into members takes regulations;due account shall be taken of the degree of the entity’s exposure to risks, the entity’s size and the likelihood of occurrence of incidents and their severity, including their societal and economic impact.”Under Danish law ‘business judgement’ shall be applied and a bar of negligence and claiment loss. EU NIS 2 adds further obligations and potential pitfalls to liability and the potential to demonstrate negligence and loss.Cyber risk management, or lack of, raises the potential for increased liability, adding requirements to the responsibilities that BoDs and executives have to contend with. NIS 2 makes it very clear that it is the responsibility of top management to deal with cyber security issues and not something that can be left to management further down the corporate ladder.If the BoD cannot adequately and reasonably demonstrate management of cyber risk, what will be the impact on D&O insurance in the event of a regulatory breach Olaf Classen?How will boards demonstrate governance over cyber risk?@Thaddeus Dziekanowski Brian D. McCarthy Faisal Khan Veritas GRC https://lnkd.in/ekuenGBf

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