Inside a Ransomware Attack: Legal Response, Insurance, and Post-Breach Remediation

Course Description

This panel will bring together industry leaders who specialize in cyber/privacy law and cyber insurance to provide in-depth and real-world experience regarding ransomware attacks and data breaches. Further, the panelists will give the audience insight into how organizations can prepare for and mitigate the potential catastrophic financial, legal, and reputational harm suffered by victims of ransomware attacks.

Principles

• AI Requires a New Contracting Framework
  • Traditional SaaS agreements often fail to address the unique characteristics and risks of AI-powered products and services.
  • Attorneys should evaluate AI transactions on their own terms rather than relying solely on existing software contract templates.
• The Greatest Risks Are Found in Key Contract Provisions
  • AI agreements require careful attention to provisions governing data rights, intellectual property, confidentiality, liability, model outputs, and allocation of risk.
  • Identifying and addressing these areas early can significantly reduce legal and business exposure.
• Effective Negotiation Is Essential to Managing AI Risk
  • Strong AI contracts are achieved through thoughtful negotiation, not just standardized language.
  • Attorneys should understand where vendors are likely to resist changes and how to negotiate protections that align with their clients’ objectives.
• Contracts Must Evolve Alongside AI Technology
  • As AI capabilities and legal expectations continue to develop, contract provisions should be adaptable to changing technologies, regulatory requirements, and business practices.
  • Ongoing review and revision of contract templates is essential to maintaining effective client protection.

Syllabus

1. Current Cyber Threat Landscape
2. Cyber Insurance
3. Lifecycle of an Attack
4. Response Process
5. Legal Issues
6. Readiness: Steps to Prepare, Protect, and Prevent