On 18 May 2020, TL Lim was invited to speak at the insurer’s CyberEdge 2020 wording launch.
The presentation covered discussions on recent cyber landscape and trends, legal overview and as well as cyber coverage and loss prevention. TL kicked off the legal session with an introduction on the legal framework. The team then gave an overview on the relevant cybersecurity legislations in Hong Kong and shared on the global trend where cybersecurity and data privacy has generated greater awareness nowadays. The team went on and examined the Personal Data (Privacy) Ordinance in Hong Kong (PDPO), comparing the cyber breach notification obligations in Hong Kong and in other jurisdictions. The team also discussed on the obligations imposed by the SFC and HKEX as regulators in the context of cybersecurity, and highlighted various clauses in the regulators’ codes, guidance and rules that needs to be taken into consideration. The team also shared their comments on the insurer’s insured legal position after a data breach. Towards the end of the presentation, the insurer announced the launch of their new cyber policy “First Response Services” and introduced its new features.