Cyber security is a worldwide concern for businesses and individuals. As the use of technology increases and we hold more data, we are becoming more vulnerable to security breaches. Those breaches can have significant legal and reputational effects upon companies. At Michelmores we provide support and guidance to ensure you have the right protection and insurance in place and to prevent you being a target of cyber criminals. Or, if you are a victim of cyber crime we are there to give you emergency support and to guide you through any disputes.
How we can help protect your business
Cyber insurance covers losses resulting from damage to digital assets, business interruption, extortion, customer notification, theft and third party claims - it is particularly important if your business holds sensitive customer data, relies heavily on a website or processes payment card information. Our insurance team advise companies on the scope of their insurance cover for cyber-losses and assist in the presentation of claims to insurers.
The protection of digital data and IT systems against theft is a growing technical and legal challenge. From 2017 new EU Regulations may see fines imposed of up to £100m or 5% of global annual turnover for businesses. Our award winning Technology, Media and Communications team have specialists who can advise on compliance with the Data Protection Act 1998, how to deal with breaches and how to prevent further breaches.
Civil remedies such as damages, injunctions and third party disclosure orders are available if your business is a victim of a cyber-attack. Michelmores can advise your company on these remedies. We also represent and defend companies facing third party claims following a cyber attack, working closely with our insurance and data protection specialist advisors to ensure the best possible outcome for your business and its customers.
If you are a regulated business, we can advise you on your obligation to disclose information to your regulator, the conduct of urgent internal and external investigations and generally how best to manage the critical period immediately after a breach.
We can assist with drafting employment contracts to reduce and manage the cyber-crime risks to your business and to provide training to staff on amending and reviewing staff policies and procedures.
Businesses are investing more in technology, infrastructure and professional services to secure their infrastructure and address the constantly developing and changing cyber security risk. Our Technology, Media and Communications team works with both suppliers and customers in respect of such technology and services. The team can help you in relation to the procurement of technology and services that are designed to address cyber security risks and in particular to ensure that suppliers bear the appropriate responsibilities and liability for such critical services.