As businesses increasingly work with various types of third parties that process sensitive information and, in some cases, access a company’s networks, there is an inherent risk:  these third parties create new avenues of attack against a company’s data, systems, and networks.   Covington attorneys David Fagan, Nigel Howard, Kurt Wimmer, and Elizabeth Canter describe these potential risks and the measures that can be used to mitigate such risks in a chapter they authored entitled “Managing risk associated with third-party outsourcing” — which appears in a new book, Navigating the Digital Age: The Definitive Cybersecurity Guide for Directors and Officers.

The chapter describes several critical elements of managing third-party risk, including the goals and process for pre-engagement due diligence of third parties, approaches to managing risk through contract (including the challenges of negotiating appropriate indemnifications and liability provisions), and ongoing monitoring and oversight of third parties.

To download a copy of Navigating the Digital Age: The Definitive Cybersecurity Guide for Directors and Officers, visit www.securityroundtable.org.

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Photo of Libbie Canter Libbie Canter

Libbie Canter represents a wide variety of multinational companies on managing privacy, cyber security, and artificial intelligence risks, including helping clients with their most complex privacy challenges and the development of governance frameworks and processes to comply with U.S. and global privacy laws.

Libbie Canter represents a wide variety of multinational companies on managing privacy, cyber security, and artificial intelligence risks, including helping clients with their most complex privacy challenges and the development of governance frameworks and processes to comply with U.S. and global privacy laws. She routinely supports clients on their efforts to launch new products and services involving emerging technologies, and she has assisted dozens of clients with their efforts to prepare for and comply with federal and state laws, including the California Consumer Privacy Act, the Colorado AI Act, and other state laws. As part of her practice, she also regularly represents clients in strategic transactions involving personal data, cybersecurity, and artificial intelligence risk and represents clients in enforcement and litigation postures.

Libbie represents clients across industries, but she also has deep expertise in advising clients in highly-regulated sectors, including financial services and digital health companies. She counsels these companies — and their technology and advertising partners — on how to address legacy regulatory issues and the cutting edge issues that have emerged with industry innovations and data collaborations. 

Chambers USA 2024 ranks Libbie in Band 3 Nationwide for both Privacy & Data Security: Privacy and Privacy & Data Security: Healthcare. Chambers USA notes, Libbie is “incredibly sharp and really thorough. She can do the nitty-gritty, in-the-weeds legal work incredibly well but she also can think of a bigger-picture business context and help to think through practical solutions.”