Cybersecurity & Corporate Liability in the Boardroom

Pressure is building for boards and management teams to deal with cybersecurity issues that can impact their brand and erode valuation. 9 out of 10 board members believe regulators should hold businesses liable for cyber breaches if due care has not been followed to secure customer data.

Nearly 50 percent who knew of the FTC’s lawsuit against Wyndham Hotels said the case has influenced their executive discussions on cybersecurity liability.

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What You Will Learn:

Read this joint NYSE/Veracode report to learn how cyber-related corporate liability is being prioritized at the board level.

Based on NYSE’s survey of nearly 300 board members and corporate officers, the report raises key questions such as:

  • When should a company be considered negligent in its processes—or lack thereof—for securing sensitive information?

  • Should an enterprise be held liable for not addressing easily-found application-layer vulnerabilities such as SQL Injection or published vulnerabilities such as Heartbleed?

  • Are businesses inserting liability clauses into contracts with their third-party providers?

  • What else are enterprises doing (performing security assessments, hiring outside consultants, training, etc.) to prepare for increased cyber-related liability?

  • Will cyber liability insurance establish a new baseline for cybersecurity best practices—just as the evolution of fire insurance drove the creation and enforcement of minimum standards in the way buildings are now constructed and protected?

Get a visual of these survey results by downloading our Cybersecurity and Corporate Liability Infographic.