Category Archive: Cyber

Finding dirt in the cloud?

A recent Supreme Court decision has ‘opened the door’ to litigants seeking discovery of supposedly ‘deleted’ electronic material in the Cloud. The decision concerned a dispute about discovery in a defamation proceeding. It all turned on seeking access to text messages which had been deleted from the plaintiff’s i-Phone. The plaintiff said his i-Phone had …

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What’s your cyber spend? Federal Budget puts up to $630M on the table

The $630 million allocated in the federal budget to combat cyber risk may kickstart an insurance market which has been struggling to fire. The budget allocates $230M to implement the new Australian Cyber Security Strategy, released on 21 April 2016.  A further $300-400M was outlined in the recent Defence White Paper to enhance cyber capability …

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Insurance Review May 2016

Welcome to Insurance Review May 2016, DLA Piper’s publication dedicated to the insurance industry. In this edition we report on developments across the insurance industry, including the impact of the AEC and other regulatory developments. We also report on the latest cases in many classes of business, including D&O, cyber, privacy, fintech, construction, medical indemnity, …

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Federal Government exposes its latest Mandatory Breach Notification Regime

The federal government has released a discussion paper and exposure draft on the final sitting day of Parliament for 2015 that contains a new iteration of a mandatory data-breach notification regime in Australia. The new bill is the latest attempt to introduce a mandatory breach notification regime in Australia and appears largely similar to previous …

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China plans to impose new cybersecurity requirements on insurance companies

On 9 October 2015, the China Insurance Regulatory Commission issued a Draft Regulation on Adopting Information Technology by Insurance Companies for public comment. This Draft Regulation sets out detailed cybersecurity requirements in relation to the corporate governance, data management, IT infrastructure, outsourcing, use of new technology and audits of insurance companies and serves as further …

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Lloyd’s City Risk Index highlights Cyber Risks

Lloyd’s (in conjunction with the University of Cambridge) has released the City Risk Index, a comprehensive study of the 18 key risks faced by 301 of the world’s largest cities from 2015 to 2025. Cyber risk was ranked the 7th biggest risk across all the cities, ranking behind market crash, human pandemic, wind storm, earthquake, …

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DLA Piper In a flash: A lesson in cyber security event

Please join us for the Australian premier of a new DLA Piper film, In a flash: A lesson in cyber security on Tuesday 13 October 2015 in Sydney. This film examines cyber governance, cyber-risk management, incident response, regulatory issues and managing internal investigations. BaySan Global, a fictional company, is on the verge of landing a …

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DLA Piper Corporate Insurance Trends 2015

Over the last 12 months, the insurance industry has seen speculation with respect to litigation funding regulation, resolutions of large class actions and consolidation in the form of acquisitions in the industry. There has been significant activity in the industry. In our signature publication, Corporate Insurance Trends 2015 we have examined some of the trends …

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Cyber resilience a priority in ASIC’s 2015-2016 Corporate Plan

ASIC has stated improved cyber resilience to be an area of focus in its most recent Corporate Plan. The Plan sets out key action items for ASIC from 2015 to 2019. ASIC identified marked increases in the volume, sophistication and complexity of cyber attacks as driving the focus on cyber resilience (a trend which is …

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Target settles Visa’s data breach claim

Target has reached a settlement with Visa in respect of claims arising from the cyber-attack against Target that was identified in December 2013, which exposed the personal information of millions of customers. This included the credit card information of an estimated 40 million customers. Target will cover expenses that banks and other Visa card issuers …

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