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As cited in a Washington Post article, President Obama announced the Justice Department has indicted five Chinese military personnel on "charges of hacking into computers and stealing valuable trade secrets from leading steel, nuclear plant and solar power firms." Bringing these charges against a foreign country is a first for the United States, and though it is highly unlikely that China will turn over the accused cyber spies, this action will most likely have serious implications for US-China relations, both commercially and politically.

If you’re on the board of a private company, you could be personally liable for defense and settlement costs as a result of lawsuits for claims made against you. That is, unless you have the proper coverage in place through your insurance risk management program.