Ransomware attacks are on the rise. Lax security measures, which have become more acute in the work-from-home environment, continue to be exploited. Companies' systems are hacked into, their data is encrypted, and they face...more
11/16/2021
/ Cyber Attacks ,
Cyber Crimes ,
Cyber Insurance ,
Cybersecurity ,
Data Security ,
Encryption ,
Extortion ,
Insurance Claims ,
Popular ,
Ransomware ,
Securities and Exchange Commission (SEC)
While the 2021 hurricane season is not officially over yet, catastrophic weather events including Hurricanes Ida, Henri and Nicholas have already caused substantial damage, bringing record-breaking rainfall and flooding....more
11/3/2021
/ Business Interruption ,
First-Party Coverage ,
Hurricane Season ,
Insurance Claims ,
Insurance Industry ,
Mitigation ,
Natural Disasters ,
Property Damage ,
Property Insurance ,
Severe Weather ,
Supply Chain
Ransomware attacks are on the rise. Cyber criminals continue to exploit lax security measures, which have become more acute in the work-from-home environment, and hack into companies’ systems, encrypt their data, and then...more
10/19/2021
/ Business Interruption ,
Business Losses ,
Causation ,
Corporate Counsel ,
Cyber Attacks ,
Cyber Crimes ,
Cyber Insurance ,
Cybersecurity ,
Data Breach ,
Delays ,
Encryption ,
Hackers ,
Insurance Claims ,
Popular ,
Ransomware
With insurance policies being governed by state law, and interpretation varying from state to state, where your lawsuit is venued matters. There is a cyclical history of insurers and policyholders strategically filing suits...more
In the defense of a claim, the relationship between the policyholder, the insurer, and the defense counsel, also known as the tri-partite relationship, is important. Though each party’s approach to settling a claim may be...more
To the dismay of many corporate policyholders, when Mother Nature strikes, leaving significant property damage and business interruption in her wake, insurers aren’t always willing to save the day. Insurers like to collect...more
Although the time may be right to settle that underlying action, issues can arise when your insurer is not on the same page, especially if the insurer has agreed to defend the claim subject to a reservation of rights on...more
In the wake of the COVID-19 pandemic, litigators were forced to pivot their practice and adapt to virtual technology to continue pursuit of their matters. Analyzing the benefits and drawbacks to this new virtual world, today,...more
Continuing the discussion about representations and warranties insurance (RWI) from last week’s episode, Lynda, joined by Eric Jesse, Partner in Lowenstein’s Insurance Recovery Group, and Emily Maier, Senior Vice President...more
Popular in the M&A world, representations and warranties insurance (RWI), is now more than just a way for buyers to stand out in an auction process, but a requirement to stay competitive within it. In today’s episode, Lynda...more
We are starting to see a trend, especially in D&O policies, in which both insurers and policyholders are locking horns over whether a claim is related to an earlier filed claim or not. Policyholders need to approach this...more
Since our last episode on SPACs, the market has cooled some as prime targets are harder to source and capacity in the insurance market continues to squeeze. With skyrocketing premiums and a quick turnaround in the...more
We have all heard about the alarming and ever increasing number of security breaches and ransomware attacks facing businesses. With bad actors continuously evolving and presenting new risks, most companies now fortunately...more
Picking up from our last episode, Lowenstein Corporate Partner Valeska Pederson Hintz joins the conversation about securing D&O insurance coverage for SPACs and deSPACs. Valeska, Lynda Bennett, and Rob Crocitto from ARC...more
After the unprecedented challenges 2020 brought to every business and industry, many companies saw increases in their premiums and self-insured retentions. Many companies are now going into their next D&O insurance renewal...more
This episode is a continuation of Lynda’s conversation with Bridget Choi, Deputy Counsel and Managing Director of Strategy at Kivu Consulting, and David Anderson, VP within Lockton Insurance’s Cyber Technology Group, about...more
3/11/2021
/ Cyber Attacks ,
Cyber Insurance ,
Cybersecurity ,
Data Breach ,
Data Security ,
Hackers ,
Incident Response Plans ,
Insurance Brokers ,
Insurance Claims ,
Insurance Industry ,
Ransomware
In this episode, Lynda is joined by Bridget Choi, Deputy Counsel and Managing Director of Strategy at Kivu Consulting, and David Anderson, VP within Lockton Insurance’s Cyber Technology Group, to discuss the current state of...more
Lowenstein Sandler’s Insurance Recovery Podcast, “Don’t Take No for an Answer,” is a podcast discussing key issues in insurance recovery law, providing both “101” lessons on the nuts and bolts of insurance recovery law, and...more
Representation and warranty insurance has changed the M&A market. The popularity of reps and warranties (R&W) insurance—which provides indemnity to buyers for breaches stemming from seller misrepresentations in acquisition...more
Recently, a California state court expanded a “bump up” exclusion in excess D&O policies to bar coverage for a settlement of a shareholder class action lawsuit against Onyx and its directors and officers. The shareholders...more
It requires time and effort on the part of policyholders, but claims under representation and warranties (R&W) insurance policies do, in fact, get paid.
That was one of the top findings from a new survey report by national...more
Policyholders purchase excess coverage with the reasonable expectation that they will not face a series of different coverage positions from multiple layers of insurers when seeking payment for claims, but that is not always...more
New Jersey courts have long blazed the trail to shape the landscape nationally on important insurance coverage issues. Many years ago, our Supreme Court found that insurers actually have to deliver on the coverage that they...more
Do Reps and Warranties Insurers Pay Claims? Yes–With Caveats, New Survey Finds-
During the last decade, intense deal activity spurred the growth of R&W insurance–an alternative risk-transfer mechanism to indemnify buyers...more
The COVID-19 pandemic has created a public health and economic crisis of unprecedented magnitude. In the coming weeks and months, it will also lead to insurers, regulators and policyholders clashing over claims issues...more