Eric Charleston is quoted in Law Times article on cybersecurity and cyberattacks

August 15, 2019 | Eric S. Charleston

Law Times, "Still much to be determined on insurance coverage after cyberattacks"

Eric Charleston, a senior associate with Miller Thomson LLP in Toronto, says that, despite an organization’s best efforts, human error is inescapable. In a recent article Charleston co-authored, he cited a statistic from the Canadian Survey of Cyber Security and Cybercrime, stating that Canadian businesses have spent an estimated $14 billion on cybersecurity.

“Organizations can mitigate the impact of a cyberattack by purchasing comprehensive standalone cyber-insurance tailored to the specific risks. Many organizations mistakenly believe that cyber riders and add-ons to their existing coverage are sufficient to protect against a cyberattack,” he says. “The case law reveals that this mistaken belief can be costly, leading to coverage gaps and significant uninsured losses, especially in the context of social engineering fraud.”

Read the full article, entitled Still much to be determined on insurance coverage after cyberattacks