Are You Prepared for the Worst?
Our advisory experts can help prepare your organization's board and executive staff to face all the challenges and opportunity involved with complex data issues.  Are you fully prepared for an attack on your network?  Are your board members adequately insured against data breaches?  We're here to assist in giving you peace of mind.

Stronger Organizations Make Data Security Their Primary Focus
​Directors and Officers of healthcare and other data-intensive entities are becoming aware of the importance of protecting data, and sometimes that awareness results from an unfortunate experience. Data is valuable and damage to information, or loss of data can cripple, and in some cases destroy an organization. Privacy  legislation and common law duties of care continue to evolve and present important obligations to organizational leadership. 

Such losses and damage can have serious additional consequences for the directors and officers of the affected entity, including shareholder lawsuits, class actions, and regulatory investigations. 

Executives and Directors are Responsible
No longer can data protection be only delegated to the IT department. Responsibility now rests on all decision makers from the bottom to the top of an enterprise, including boards. Risks now extend from basic network breaches to attacks compromising the functionality of entire enterprises.

Historically Officers and Directors have not faced significant risks of personal liability resulting from losses of data, or damages to data. But, is this changing?

• There is mounting evidence and opinion that Officers and Directors may be liable for breach of fiduciary duties or their duties to exercise diligence and conduct themselves with the skill and responsibility of a prudent person.
• This risk climbs with the increase of public information of risks including cyber attacks resulting in losses of assets and privacy information. In other words, directors and officers can no longer reasonably say that they are not aware of the dangers of cyber attacks, data theft, or damage to data.

Ever-Changing Environment
It is becoming clearer that in an atmosphere of relative uncertainty made more complex by the constantly evolving regulatory and legislative framework pertaining to cybersecurity and data, decision makers must protect themselves and their enterprises in a calculated and strategic manner considering all material risks.

Recognizing the reality that enterprises cannot function in isolation from the real world, GENSTATE HCA has developed a suite of services to manage risks, expose vulnerabilities, and mitigate exposure to data loss and damage. Protecting data requires a multifaceted approach encompassing several disciplines.

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Gentate HCA Governance Assessment

A full Genstate HCA governance assessment involves the following components:

1. Evaluation of the corporate IT system together with examination and determination of technical vulnerabilities and threat assessments:
2. Review and examination of a business’s regulatory and legal framework;
3. Review and examination of a company’s corporate governance framework and documentation;
4. Review of an enterprise’s Cyber insurance and general insurance coverage, as well as Directors and Officers liability insurance when required.

Upon conclusion of a full assessment, GENSTATE HCA will develop a program to effectively rectify identified threats and gaps and develop a program to prevent future losses of, or damages to data. GENSTATE HCA does not replace corporate advisors. Our objective is to work shoulder to shoulder with lawyers, insurance specialists, and accountants to properly protect healthcare businesses and enterprises.   In situations where entities have certain advisors capable of executing some of the above noted reviews, GENSTATE HCA will produce an effective solution by working with those advisors. ​