Ted Schaer and Jay Leffler, two lawyers from the dedicated and knowledgeable Zarwin Baum legal team with over sixty years experience between the two of them, share their thoughts on cybersecurity.
Zarwin Baum’s Cyber Liability Practice has a proactive approach and focuses on the growing risks and rapidly evolving liability exposures associated with the security and storage of information. Due to its knowledgeable lawyers and representatives on the topic of Cyber
Security and Data Privacy, Zarwin Baum has developed an excellent reputation among the region’s business, political, and legal communities. Cyber liability and Data protection are critically important in this modern era, as data breaches can affect anyone from the largest company to the individual. Cybersecurity is continually evolving to keep up with the adaptation of security risks and advanced persistent threats (APTs). Having strong cybersecurity policies, such as the right security technology or network protection, to the proper training for employees, can prevent essential or critical data from falling into malicious hands.
Jay Leffler graduated from Rutgers University Law School in 1988, completing his undergraduate work at Temple University. He then graduated cum laude with a degree in Political Science. Jay Leffler began his career as a law clerk for the honorable Paul Ribner in the Philadelphia Court of Common Pleas.
Theodore (Ted) M. Schaer graduated from American University in 1982 with a bachelor of science degree in Government and Public Administration. After working in Washington DC Capitol Hill, he returned to Philadelphia and attended Temple University School of Law, where he graduated in 1987. Ted Schaer serves as Chairman of the Firms Insurance Defense Department. Ted Schaer is hired by some of the nation’s largest insurers, third party administrators, motor carriers, and businesses to defend lawsuits. Theodore M. Schaer is board certified in privacy and US Data Protection, and Schaer serves as National and Regional Counsel to several national accounts.
Cybersecurity is the prevention of unauthorized access to your information. Cybersecurity policies can prevent essential or critical data from falling into malicious hands. Cybersecurity varies from the right security technology or network protection to the proper training for employees.
Ted Schaer from Zarwin Baum calls your personal information the “crown jewel.” The crown jewel that criminals wish to access with cyber attacks. From your bank account to your health insurance information, this information is highly valuable. Ted Schaer goes on to say that, on average, each record lost costs a consumer or business around two hundred dollars. So the price of a data breach or an invasion of your cybersecurity can be immense. While it can be easy to place the blame on malicious attacks, Theodore M Schaer goes on to say that “thirty-five percent of data breaches come from human negligence.” He says that one of the most significant precautions a company can take for their data security is to make sure employees are appropriately trained and always to be safe.
Jay Leffler from Zarwin Baum goes on to say that data privacy and cybersecurity are all part of professional liability. Jay Leffler mentions that a proper precaution for a business, large or small, is the appropriate insurance towards data breach protection. There are two significant forms of insurance regarding cybersecurity: technology errors and omissions and cyber liability insurance. Cyber liability insurance is for protection against data breaches at your own company. At the same time, technology errors and omissions insurance is to protect your company in the event of a client being harmed. Jay Leffler says that it is essential to know which type of insurance you must require and to compare the two types of coverage.