Emerging cyber risks – the growing litigation and class action risk

Cyber attacks have increased in frequency over the past year, with 39% of UK businesses having experienced a cyber breach in the 12 months to March 2021. Such attacks can have serious consequences for a business, disrupting operations, leading to regulatory investigations and affecting a business’s reputation.  Litigation risk is also increasing, both from B2B claims and large claims from data subjects brought as class actions.  The risk is broader than cyber attacks, as large class actions are also now being filed for other GDPR infringements, including “data misuse” claims.   
 
This session gives an overview on how these risks crystalise, pro-active steps to mitigate risk and key considerations for a holistic response that addresses regulatory and litigation exposure.  Drawing on our experience of mitigating the impact of cyber claims and our understanding of the current and evolving litigation landscape, the session will cover:  

• liability under the UK GDPR for data misuse and cyber attacks
• assessing your liability – i.e., quantum of damages awarded for GDPR claims 
• managing digital supply chain risk between data controllers, processors and sub-processors 
• pro-active mitigation steps and practical advice on responding to an incident, including insurance
• litigation risk arising from B2B claims and emerging class action risk 
•  managing threats from claimant law firms 
• class action defence