Cyber Attacks & Liability

Cyber liability is a relatively new area of law, but affects the maritime and international business community as a whole. As the frequency and severity of high-profile risks increases, it is not surprising that the World Economic Forum’s Global Risk Report places “cyber attacks” as the technological risk of highest concern for 2015 and predicts it will remain so for the next 10 years.

Cyber Liability Expertise

IMG provides clients with tailored legal services to reduce the risk of cyber liability and to mitigate the effects of cyber attacks. IMG frequently reviews our clients’ cyber liability insurance policies and endorsements to ensure that each policy actually protects businesses against hackers and other cyber threats, which does not fall under all policies’ coverage. IMG advises its clients on whether particular risks and losses are covered, monitors and settles cyber claims and, when necessary, represents clients in coverage litigation.

Cyber Liability Policy Review

Most standard insurance policies do not cover liabilities associated with cyber risks. The purchase of a special cyber liability policy, therefore, is necessary and prudent. However, cyber risk remains difficult for insurance underwriters to quantify, due in large part to a lack of actuarial data. Insurance carriers compensate for insufficient data by relying on qualitative assessments of an applicant’s risk management procedures and risk culture. As a result, policies for cyber risk are more customized and costly and difficult to acquire than other policies. Do you have a cyber liability claim that your underwriter wrongfully denied? IMG can help.

Knowledge and Experience

What We Do

IMG is one of the only law firms in the Pacific Northwest that focuses on the transactional side of charter party agreements and the litigation side of charter party agreements.

The nature of the fishing industry often requires that matters be dealt with on an urgent basis and our legal practitioners travel widely and at short notice. We also advise on fishing company start-ups and business entity formation.

Many disasters, both at sea and on land, unfortunately involve either death and/or personal injury. At IMG, we have the necessary experience in defending and prosecuting companies and insurers in maritime and offshore energy cases.

IMG has experience in dealing with the legal issues connected with shipping casualties and salvage operations. IMG is prepared to act for salvors during and in the aftermath of shipping casualties and ensuing operations.

We frequently advise on the drafting and review of contracts, together with associated documents such as performance and refund guarantees, as well as the financing and insurance of new builds.

IMG’s team is involved in all aspects of selling and purchasing vessels including the negotiations between the buyers and the sellers. We regularly advise a diverse range of international clients including owners and operators.

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