Participants discussed the evolution of ransomware attacks, business email compromises, and other types of cybersecurity incidents, and the exponential increase in litigation arising from privacy and data breaches.

The use of artificial intelligence by threat actors emerged as a top concern. Panel speakers also emphasized the importance of cyber resilience, pushing for a shift from reactive to proactive cybersecurity strategies, including better preparation for incidents.

Constangy Cyber's Alyssa Watzman and Allen Sattler moderated panel discussions around the latest findings in the cybersecurity industry.

Another highlight of the summit was the emphasis on collaboration across industries as insurers, legal experts, and technology providers discussed comprehensive strategies for addressing a full spectrum of cyber risks. Panelists also explored how organizations could use the latest technologies and risk management practices to prepare for future cyber threats.

A significant portion of the summit focused on the findings from the 2024 Cyber Claims Study, which provided insights into real-world incidents and trends in cyber insurance claims, helping companies better understand the financial and operational risks associated with various cyber threats. Lindsay Nickle, Vice Chair of Constangy’s Cybersecurity & Data Privacy practice group, recently took part in a webinar to discuss the findings. "One of the remarkable things about taking the time to review this type of claims study is to watch the trends, the types of incidents, the costs associated with response, and the way we've seen this landscape change," Lindsay said. The webinar is available at Cyber Claims Study 2024 Report.

Overall, the summit provided a valuable forum for professionals to exchange insights on cybersecurity best practices, emerging risks, and innovative approaches to safeguarding digital assets.

The Constangy Cybersecurity & Data Privacy Team develops comprehensive incident response plans and facilitates tabletop exercises for businesses of all sizes and in all industries. The team also provides incident response services to companies that have experienced cybersecurity incidents / data breaches and defends companies against related litigation. We are here to help! The Constangy Cyber Team is available 24/7. Contact any of our attorneys at breachresponse@constangy.com or by phone at 877-DTA-BRCH.