Data breaches and supply chain interruptions can be devastating for a company, and investors and board members are beginning to hold the C-suite accountable for having a plan in place to prevent these attacks and to deal with the aftermath if one occurs. (Credit: Inna/Adobe Stock)

The cybersecurity landscape has evolved as such that issues of data breaches, ransomware and other digital threats are expanding beyond companies’ IT departments. According to a recent report from Allianz, despite an overall decrease in new filings, directors and officers (D&O) insurance underwriters are keeping an eye on litigation concerning these expanding cyber threats as well as climate-related ESG liabilities in 2023.

Data breaches and supply chain interruptions can be devastating for a company, and investors and board members are beginning to hold the C-suite accountable for having a plan in place to prevent these attacks and to deal with the aftermath if one occurs. In the event of such an attack, the actions of these company leaders will likely be scrutinized, and any misstep in putting cybersecurity measures into place to reduce harm could be seen as a failure of their duties.

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Brittney Meredith-Miller

Brittney Meredith-Miller is assistant editor of PropertyCasualty360.com. She can be reached at [email protected]

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