Buchanan attorneys Candace Quinn and
Kurt Sanger, and guest speaker, Berkshire Hathaway Specialty Insurance Senior
Complex Claims Director Camille Cribaro-Mello, Esq., presented a
webinar addressing the critical importance of cybersecurity in
managing ERISA retirement plans. This webinar provided strategies
to protect you from risk of personal liability and protect plans
from losses. It also explored the responsibilities of ERISA
fiduciaries and potential for personal liability, including to what
extent fiduciary liability insurance may offset cybersecurity
risk.
Corporate plan sponsors and ERISA retirement plan fiduciaries can
mitigate risk of potential planned losses and costly litigation by
working with ERISA and Cybersecurity counsel to take proactive
steps to protect plan assets and participants' sensitive
financial data from cybersecurity threats. Attendees learned best
practices for enhancing cybersecurity and addressing vendor
management from increased cyber threats.
The session highlighted the responsibility of ERISA fiduciaries to
undertake strong cybersecurity measures, ensuring the safety and
integrity of employees' hard-earned assets in a digital
landscape. Participants gained actionable insights to safeguard
their retirement plans against potential cybersecurity breaches and
thefts.
View the recording here or below.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
