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Cybersecurity › Insurance Claims › Insurance Industry

Follow this channel for advisories on one of the biggest threats to businesses today. Read a morning brief of fresh guidance and commentary by leading lawyers on security, privacy, risk... more +
Follow this channel for advisories on one of the biggest threats to businesses today. Read a morning brief of fresh guidance and commentary by leading lawyers on security, privacy, risk management, global regulations, data protection, leaks, hacking, cyber insurance, compliance, HIPAA, and every other aspect of cybersecurity of import to corporate readers right now.   less -
Proskauer - The Capital Commitment

Protecting Sponsors from Emerging Portfolio Company Risks through Insurance

Proskauer - The Capital Commitment on

In addition to the normal operational and legal risks associated with owning and managing portfolio companies, 2025 has introduced or exacerbated a wave of geopolitical and macroeconomic risks such as inflation, tariffs,...more

Troutman Pepper Locke

When to Notify Your Cyber Carrier of a Security Incident - Dear Mary – Incidents + Investigations Cybersecurity Advice Column

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Our company experienced a cybersecurity incident. It seemed pretty minor — just a few suspicious emails and an employee’s account being locked. To my dismay, we’re now hearing from our IT team that the issue is more serious....more

Rivkin Radler LLP

February 2025 Insurance Update

Rivkin Radler LLP on

The 2014 Home Depot data breach was one of the more notorious cyberattacks. A decade later, litigation over that incident continues. The Sixth Circuit recently decided whether an electronic data exclusion cleared insurers...more

Zelle LLP

Employee Theft of Electronic Data Is Not Direct Physical Damage to or Direct Physical Loss of Business Personal Property

Zelle LLP on

In Site Jab v. Hiscox Insurance Company, Inc., United States District Judge Lee H. Rosenthal recently tackled whether a business owner’s insurance policy provided coverage for theft of information, including confidential...more

Goodwin

Tips for Maximizing Your Cyber Insurance Program

Goodwin on

A strong cyber insurance program is a critical risk management tool for companies, regardless of size or industry focus. When properly crafted, cyber insurance should protect a company against the costs of investigating cyber...more

Miller Nash LLP

Enterprise Liability Insurer Has Duty to Defend Against a Vendor’s Claim, Even When Presented as an Invoice for “Usage Fees”

Miller Nash LLP on

In a win for policyholders, a federal court in Washington recently held that an insurer had a duty to defend a technology company against a vendor’s demand for damages it allegedly suffered when hackers accessed software...more

Woodruff Sawyer

Guide to D&O Insurance for IPO and Direct Listing Companies, 2025 Edition

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Even though there was an uptick in IPO activity in 2024, many companies have taken a wait-and-see approach and deferred their public debuts to next year. Still, going public in 2025 will come with challenges, such as...more

Wiley Rein LLP

No Duty to Defend BIPA Lawsuit Given Absence of Data Breach or Security Failure

Wiley Rein LLP on

The Appellate Court of Illinois, First District, applying Illinois law, has held that a cyber policy did not afford coverage for an underlying lawsuit alleging violations of the Biometric Information Privacy Act (BIPA)...more

J.S. Held

Strategies to Avoid Cyber Insurance Claim Challenges: Part II

J.S. Held on

In Part I of this series, we posed a series of questions to consider when purchasing cyber insurance. Our approach was deliberate: the right questions help get you the right insurance to address cyber risks facing your...more

J.S. Held

Strategies to Avoid Cyber Insurance Claim Challenges: Part I

J.S. Held on

Cyber risk is now a normal part of our personal and professional lives. When companies suffer a cyber incident, they often look to their insurance policy for coverage to help mitigate the financial exposure. Additional...more

K&L Gates LLP

CrowdStrike IT Outage: Wave of Business Interruption Claims Expected

K&L Gates LLP on

Businesses, public services, and computer users across the world faced disruption as a result of the major CrowdStrike information technology (IT) outage, which is being coined by many as one of the largest and worst cyber...more

Wiley Rein LLP

Delaware Court Dismisses Insurers’ Subrogation Action Against Software Provider Over Ransomware Payouts

Wiley Rein LLP on

The Superior Court of Delaware, applying Delaware law, has dismissed two lawsuits filed by nine insurance companies seeking to recover amounts they paid under cyber liability policies from a software company whose customers...more

Faegre Drinker Biddle & Reath LLP

Open Insurance: Key Issues to Watch in 2024

Faegre Drinker Biddle & Reath LLP on

Open insurance is a trend gaining traction throughout the global insurance industry. Similar to open banking, it involves the industry moving to a connected data ecosystem powered by open application programming interfaces...more

Zelle LLP

Fifth Circuit Holding Addresses Scope of BI Coverage Under Cyber Policy

Zelle LLP on

The Fifth Circuit added to the emerging body of case law addressing the recovery of business income losses in the cyber insurance coverage context to kick-start 2024 in Southwest Airlines Company v. Liberty Insurance. ...more

Lowenstein Sandler LLP

“Keeping Track” of Your Cyber (and Other) Coverage Part I

Lowenstein Sandler LLP on

In this episode of “Don't Take No for an Answer,” host Lynda A. Bennett is joined by David Anderson, Vice President of Cyber at Woodruff Sawyer, and Heather Weaver, counsel in Lowenstein’s Insurance Recovery Group, to discuss...more

Woodruff Sawyer

[Webinar] D&O Insurance Trends Looking Ahead to 2024 - September 26th, 10:00 am - 11:00 am PT

Woodruff Sawyer on

The softening D&O market has continued into 2023, with 91% of our clients experiencing a cost reduction in their renewal in the first half of the year. Self-insured retentions have also continued to fall. The soft market is a...more

Lowenstein Sandler LLP

Cracking the Code: Getting the Most Out of Your Cyber Insurance Policy

Lowenstein Sandler LLP on

Cyber insurance is more important than ever, says Eric Jesse, who provides three tips for deriving the most value possible from your cyber insurance policy. Eric advises policyholders to clearly understand the scope of their...more

McGuireWoods LLP

Ohio Supreme Court Holds that Insurance Policy Does Not Cover Ransomware Attack on Software

McGuireWoods LLP on

In a unanimous decision, the Ohio Supreme Court found that appellee EMOI Services, LLC’s (“EMOI”) businessowners insurance policy does not cover losses resulting from a ransomware attack on EMOI’s computer software systems....more

Zelle LLP

How Ohio Software Ruling Implicates Crypto Insurance Claims

Zelle LLP on

In the last week of December 2022, the Ohio Supreme Court published a much-anticipated decision in the EMOI Services LLC v. Owners Insurance Co. case. The decision was bold, and the court made no attempt to limit its holding...more

J.S. Held

Cyber Claims: A Guide to Calculating Business Interruption

J.S. Held on

While cyber was incorporated in some general liability policies (GL) of the 1980s, the first cyber standalone policy was written in 1997 through AIG. Though groundbreaking, as it was the first to address cybersecurity, it was...more

Woodruff Sawyer

M&A Minute: When R&W Insurance Works to Cover Interim Breaches

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Reps and warranties insurance (RWI) ensures the policyholder is covered for breach of contract for mergers and acquisition (M&A) transactions. Failures in diligence or fraud on the part of the seller can result in breaches of...more

Farella Braun + Martel LLP

Using Multi-Factor Authentication as a Prerequisite to Cyber Liability Coverage

Farella Braun + Martel LLP on

Multi-factor authentication (MFA) is more than an annoying popup or text message when logging onto a company’s website or platform. Not only is using MFA a sound security practice and good business, it is frequently becoming...more

Buckingham, Doolittle & Burroughs, LLC

Busting Cyber Myths Part 2: I Can’t Afford Cyber Protection

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In the second of a three-part series, Buckingham Data Privacy and Cybersecurity Attorney David Myers talks with Andy Jones, CEO, Fortress Security Risk Management, and Bryan Schauer, Vice President at The Schauer Group’s...more

Farella Braun + Martel LLP

Maximizing Your Insurance Coverage for Data Privacy Liability

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With news of massive data breaches making headlines in recent years, the handling of personal data has become a focus for legislators and regulators around the world. Compliance with data privacy regulations such as the...more

Carlton Fields

Federal Court Rules “Unauthorized Network Access Exclusion” Precludes Coverage for $1.3M Payment From Hacker’s Fraudulent Email

Carlton Fields on

The U.S. District Court for the Eastern District of Pennsylvania ruled that an insurance policy issued by Federal Insurance Co. excluded coverage for the transmission of $1.3 million by the insured in response to an email...more

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