Triple Play is a weekly NJBIZ feature that asks top executives in New Jersey to talk about three things related to their industry.
Darren Hanison is a partner with Goldberg Segalla, a law firm with offices in the United States and Europe, including Princeton. His work includes cutting-edge cyber, technology, media, intellectual property and entertainment issues.
We asked Darren three questions about cyber-issues and how to handle them.
What is the biggest cyber-issue in business? The biggest cyber-issue is definitely data security breaches — where hackers get into a corporation’s server and get a hold of information held about individuals. However, one of the most difficult issues is how to protect against a disgruntled senior manager or high-level employee downloading information on a memory stick and walking out of the office with it.
How can insurers help? Insurance can be very useful for SME and mid-cap companies. I would be saying to them, ‘You need to be looking at a cyber liability insurance policy and possibly a stand-alone reputational risk policy on top of all the other standard insurances you would routinely purchase.’
How can lawyers help? Lawyers are very well-positioned to help educate the insurance brokers and their clients to understand what these specialist types of insurance can do and so are becoming a kind of quasi-salesman of the products. As an experienced insurance lawyer, you’re able to understand the policy wording and explain to a potential client how it will work if an event happens.