Hall & Wilcox invests in cyber advisory and insurance practice with new partner appointment

 

Media Release | 3 February 2022

Hall & Wilcox has invested in its cyber insurance and advisory practice with the appointment of new partner Eden Winokur.

The COVID-19 pandemic has exacerbated the threat and magnitude of cybercrime. In September 2021, the Australian Cyber Security Centre (ACSC) confirmed it had received 67,500 reports of cyber incidents in Australia for the financial year ending 30 June 2021. This was an increase of 13% on the previous year and amounts to a report received around every eight minutes. These reported incidents resulted in losses totalling more than $33 billion to Australian businesses.

It is expected that losses will get significantly worse, with Aon predicting global cyber losses to total between $2 to $6 trillion annually in 2022. According to AustCyber, in response to cyber risks, Australian businesses spent $5.6 billion on cybersecurity in 2020 and this figure is forecasted to rise to $7.6 billion by 2024. But the ACSC reports that nearly 50% of Australian small and medium-sized enterprises (SMEs) spend less than $500 per year on cybersecurity.

Managing Partner Tony Macvean said Eden’s experience would help the firm respond to significant market need and opportunity.

‘Eden’s expertise will be a great asset in a market where there is significant need for advice on cyber incidents, and cyber advisory expertise. We are the perfect firm to service clients with cyber issues given our industry specialisation and the strength of our insurance, technology and privacy practices.’

Eden is a cyber, privacy, insurance and disputes lawyer. Eden’s practice includes handling cyber insurance claims and advising on cyber and data security risks. He has acted on hundreds of local and multinational cyber incidents and data breaches for insurers, corporates and SMEs.

Eden will advise clients on and handle cyber insurance claims, as part of the firm’s market leading insurance practice. He will also have a leadership role in the firm’s cross disciplinary team advising clients on cyber and data security issues. In addition, he will form part of our Rampart cyber incident response offering.

Eden said, ‘I am incredibly excited to join the team at Hall & Wilcox and contribute to its success. Together, we will focus on delivering great and valuable outcomes for all clients as we respond to and develop strategies to mitigate the growing and evolving threats posed by cyber risk.’

Hall & Wilcox is a leading independent law firm of more than 900 people, including over 100 partners. We service corporate, public sector and private clients, both Australian-based and those offshore doing business in Australia. 

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Melinda Woledge

Melinda Woledge

Marketing & Communications Manager

Melinda is the Marketing & Communications Manager. She is responsible for the external and internal communication strategy.

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