The American Bar Association Business Law Section has published “D&O Guide to Cyber Governance: Fiduciary Duties in the Digital Age” which provides expert guidance and key actions for directors and officers on how to manage and govern cyber risks.
From asking simple questions about whether a company has a mature cybersecurity program to fielding more complex queries about ransomware and cyber insurance, boards and executives should understand what cyber governance really means and how they should be exercising oversight of digital risks.
“Laws, regulations, case law and standards now detail specific actions that boards and senior management must take in managing cyber risks. This is no longer an area that can be delegated to operational personnel,” says Jody Westby, CEO of Global Cyber Risk.
Westby provides the basic information directors and officers need to know to meet their fiduciary duties, exercise appropriate cyber governance and protect their organizations against shareholder derivative and securities lawsuits. With convenient checklists, practice tips, charts and resources, this guide will help directors and officers, and those who counsel them to:
• Develop a governance framework in alignment with best practices and standards
• Understand the elements of a cybersecurity program
• Ensure privacy and security compliance requirements are met
• Manage a cybersecurity incident and make hard decisions
• Develop appropriate risk transfer and management strategies
The book also includes a cyber governance checklist, a cyber lingo cheat sheet and a list of abbreviations that serve as a guide and reference.
“D&O Guide to Cyber Governance: Fiduciary Duties in the Digital Age” is a paperback that costs $79.95. To order a copy, call 800-285-2221 or go online to ShopABA.org.
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