November 12, 2018
Marc S. Voses
New York-based partner, cyber security and data privacy co-chair and cyber risk coverage co-chair, Goldberg Segalla LLP
New York-based partner, co-chair of the data privacy, network security and technology services practice group, Kaufman Dolowich & Voluck LLP
Consolidation of insurers within the industry continues at a steady pace. For law firms, this creates both opportunities and risks. As a result, I believe the law firms that are best positioned to capitalize on the opportunities presented by this changing landscape are those invested in evolving with the needs of their clients and willing to leverage technology to provide services in an efficient and economical manner. As Ben Franklin said, "When you're finished changing, you're finished."
Goldberg Segalla presents such a unique opportunity for me because they have been investing in developing the infrastructure our attorneys and clients need now, while at the same time being nimble enough to evolve to meet rapidly changing client requirements. Our clients expect me to be part of a firm that has the bandwidth to handle emerging issues like insurtech, insurance coverage for cryptocurrencies and entities contemplating initial coin offerings, biometric information protection regulations, or website and electronic kiosk ADA accessibility issues, to name a few. As co-chair of cyber security and data privacy, as well as co-chair of the cyber risk coverage group within global insurance services, my short-term goal is to educate our existing and prospective clients that Goldberg Segalla’s attorneys can be their trusted advisers in these cutting-edge legal matters, while my long-term goal is to solidify Goldberg Segalla’s existing reputation in this space.
When it comes to cyber events, insurers are still managing the risks presented by this peril while offering new products on a regular basis. I just spoke on a panel at the recent CLM Cyber Summit in New York City on the issue of silent cyber coverage. Simply put, silent cyber coverage refers to potential exposures for claims or losses arising from a cyber event when policyholders seek coverage under a policy that was not intended to cover those losses, and for which the premium does not appropriately reflect the risk. In the near term, challenges for the insurance industry will include underwriting for cyber perils and responding to policyholders’ requests for coverage for losses and claims under non-cyber stand-alone policies.
In the late 2000s, I was a senior associate at Edwards Angell Palmer & Dodge LLP. The partner I was working with received a call from a client that they were the victim of a data breach that resulted in the theft of personally identifiable information for thousands of domestic and foreign tourists in New York City. Back then, reports of data breaches were not nearly as commonplace as they are now, and the rules for handling data breaches were being written. We decided that the appropriate course of action was to identify the proper police precinct and obtain a copy of a blank police report that I would bring back to the office to complete and then file as a record of the cyber event. Despite my best efforts, the police would not let me leave the station with a blank form, so I sat at a table and transcribed all four pages so that we could gather the information needed to complete the form. Being at the forefront of an emerging area was very exciting.
Treat the partners you work for as if they are your clients. Stay in touch with your contemporaries at law firms and insurers because they will rise within organizations, as you rise within yours, and they will become your greatest source of business. Become recognized as an expert in your field by publishing and speaking. Be kind.
Robotics engineer … in an office with a view of the ocean
Accounting
Being a witness to what Goldberg Segalla will become, and what I will become simply by being a part of Team GS.
Dinner at Zahav in Philadelphia
“Great Expectations”
Boating, tennis, skiing, travel, watching good sci-fi movies and reading
“All in the Family”
Anything outdoors with my family
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