Since the start of the pandemic, cybercriminals have become increasingly brazen. An unfortunate byproduct of these emboldened criminals is that fallout from their cyberattacks has become increasingly public, disruptive, and detrimental to public and private companies.

Board members are rightfully concerned, since both the company and its officers and directors may face liability following a cyberattack, including board turnover, shareholder derivative claims, consumer lawsuits, and now—more frequently—regulatory enforcement actions. Fortunately, cyber insurance and directors and officers (D&O) liability insurance can help mitigate these liabilities.