Writing Clear Contracts for Cyber Risk Transfer
Picture the scene: Your company outsources its digital marketing – including management of the customer relationship management system with the personal details of thousands of customers – to a startup. The terms and conditions are agreed, and both parties are happy with the negotiated contract.
Months later, your customers’ data is compromised while being handled by the startup.
Who is liable, and to what extent? Who will handle the incident’s aftermath? Whose insurance should cover the losses? Does the startup have suitable insurance to cover costs? And, if so, does your company have the contractual right to recover? During a cyber incident, the answer to such questions is not always clear.
In this Briefing, Victor provides guidance on the issues to consider and actions to take when negotiating contracts to ensure you are protected. Download the full article to read more.