Cyber insurance policies are indispensable for investment firms operating in an age of widespread cyber attacks and data breaches costing millions of dollars in damages and liability. Investment fund manager principals need to have a nuanced grasp of what those policies cover and ensure they maximize their value. Doing so can put their firms in a good position to reduce reputational and financial harm in the event of a cyber breach or investigation of their cyber preparedness by a regulatory agency...

These points were explored in a panel discussion presented by Haynes and Boone. Moderated by Haynes and Boone partner Werner Powers, the panel included Ron Borys, managing director of Crystal & Company; Sandy Crystal, executive vice president of Crystal & Company; Christopher Liu, head cyber specialist for financial institutions at AIG; and Haynes and Boone partners Ricardo Davidovich and David Siegal. This article presents the key insights communicated by the panel.

Excerpted from the Hedge Fund Law Report. To read the full article, please click here (subscription required).