News & Analysis as of

Data Breach Policy Terms Cyber Insurance

Zelle  LLP

N.M. Cyber Ruling Will Spur Litigation As Coverage Remedy

Zelle LLP on

A June 16 appellate decision involving the construction of a cyberinsurance policy demonstrates a concerning lack of judicial understanding about the nature and scope of cyber liability coverage and implicitly incentivizes...more

Wiley Rein LLP

For the Record: Cyber Coverage “For” a Security Breach is Ambiguous under New Mexico Law

Wiley Rein LLP on

The New Mexico Court of Appeals has held that cyber policy language affording coverage “for” a security breach was ambiguous and must be construed broadly to provide coverage for a breach of contract claim “because of,”...more

A&O Shearman

Insuring data breach liabilities – how different policies can stack up and the problem of late notification

A&O Shearman on

An English Court has recently decided that three insurance policies covering the same loss – data breach settlements arising from an incorrectly addressed email – provided a combined, cumulative limit of indemnity. While the...more

Integreon

Cybersecurity, Wire Fraud, and Attorney Liability: The Growing Risk Landscape

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Wire transfer fraud is on the rise, and attorneys are increasingly becoming prime targets for cybercriminals. With billions lost annually to fraudulent transactions, legal professionals who fail to implement robust...more

Zelle  LLP

Further Clarity Regarding Coverage for Funds Transfer Fraud

Zelle LLP on

At this point, your IT department has almost certainly warned you to approach your e-mail inbox with skepticism--for good reason. Cybercriminals regularly and effectively impersonate our legitimate contacts for illegitimate...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

Woodruff Sawyer

Does Cyber Insurance Pay Out?

Woodruff Sawyer on

Over the last decade, one of the most common gripes I’ve heard about cyber insurance is that policies “don’t pay out.” Cyber coverage is often perceived as being illusory and riddled with “gotcha” clauses. This isn’t the...more

Lowenstein Sandler LLP

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

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On this episode of Don't Take No for An Answer, host, Lynda A. Bennett, Partner and Chair of Lowenstein’s Insurance Recovery Group, is joined by David Anderson, Vice President, Cyber Liability at Woodruff Sawyer, and Heather...more

Robinson+Cole Data Privacy + Security Insider

Insurer Denies Coverage Under Professional Liability Policy for Lawyer’s Email Compromise

Insurance coverage for cyberattacks can be tricky for anyone to navigate, including lawyers. To illustrate this point, a case in New Jersey caught my eye that I thought would be an interesting read for our followers who are...more

Bilzin Sumberg

Cyber Insurance Policies May Not Cover Phishing Attack Funds Diversion

Bilzin Sumberg on

The Eleventh Circuit Court of Appeals is considering an appeal from the United States District Court for the Middle District of Florida , in which the District Court ruled that a cyber insurance policy did not cover diversion...more

Woodruff Sawyer

Ransomware Attacks Continue to Cause More Underwriter Scrutiny

Woodruff Sawyer on

Continued widespread cyber attacks have leaders in just about every industry wary and watchful, and insurance underwriters are no exception. Given the increase in claims from recent ransomware attacks, cyber insurers are...more

Bilzin Sumberg

Cyber Insurance Carriers, Increasingly Targeted by Hackers, Impose New Coverage Conditions

Bilzin Sumberg on

Insurers that offer coverage for cyberattacks find themselves playing both offense and defense lately. As they await possible action by Congress to enact federal cybersecurity legislation, the insurance industry has gone on...more

Hinshaw & Culbertson - Insights for Insurers

Beyond Data Breach: Evaluating Coverage for Misuse of Information Claims

New and comprehensive privacy and cyber regulations continue to proliferate across the globe. These are not your father’s data breach notification laws. The scope of information included within these mandates has expanded...more

Carlton Fields

Ransomware Attack Replacement Costs Are Covered “Direct Physical Loss or Damage” Under Standard Business Owner’s Policy, According...

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A Maryland federal court recently weighed in on the still-murky world of insurance coverage for cybersecurity losses, finding replacement costs necessitated by a ransomware attack were “direct physical loss or damage” to a...more

BCLP

Countdown to the CCPA: Does cyber insurance cover a data breach?

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When the California Consumer Privacy Act (“CCPA”) takes effect in January 2020, California will become the first state to permit residents whose personal information is exposed in a data breach to seek statutory damages of...more

Woods Rogers

Cyber Liability Insurance For Small To Medium Size Businesses – Are You Covered?

Woods Rogers on

Today, it seems hardly a month passes without a report of another business falling victim to a data breach. Over the past few years, some of the largest and well-known companies such as Equifax, Target, Home Depot, TJ Maxx,...more

Robinson+Cole Data Privacy + Security Insider

Court Finds That Insurer’s Quote Implied Coverage for Computer Hacking Losses

In an interesting case from Indiana, a court recently ruled that language in the insurer’s “quotes” for coverage in a crime policy led the insured to believe that losses for computer hacking would be covered under the policy...more

Robinson+Cole Data Privacy + Security Insider

The Tricky World of Cyberliability Insurance

2018 was the year of hearing from clients that they are convinced that they “have cyberliability insurance” to finding out that they really don’t have the coverage that they need for the most common cyber risks....more

Farella Braun + Martel LLP

Keeping Up With the Risks and Protections of Cyber Insurance

An obscure niche product less than a decade ago, cyber insurance is now a staple of many companies’ risk transfer programs. Its rise in prominence is no wonder. High-profile data breaches have caused businesses millions of...more

Carlton Fields

Failure To Procure Cyber Insurance Could Haunt Your Company

Carlton Fields on

A federal court in Florida recently adopted the now well-developed consensus that data breach losses are not covered under standard Commercial General Liability (CGL) policies....more

Lowndes

Don’t Expect Commercial General Liability Insurance Policies to Protect Against Cyber Breach or Crime

Lowndes on

Almost a year after Middle District Judge Mary Scriven’s instructive decision in Innovak Int’l, Inc. v. Hanover Ins. Co. in which she declined to hold that a traditional commercial general liability (CGL) policy, as drafted,...more

Farella Braun + Martel LLP

Florida Court Finds No CGL Coverage For Data Breach Claim

A federal district court in Florida has ruled that a claim against a policyholder arising out of a hacker’s theft of confidential credit card information was not covered under a commercial general liability (CGL) policy. St....more

Robinson+Cole Data Privacy + Security Insider

Will Insurance Provide Coverage for GDPR Fines?

As many of our readers know, the General Data Protection Regulation (GDPR) imposes significant obligations and responsibilities on entities with regard to data protection and privacy for all individuals within the European...more

Polsinelli

Cyber Security Insurance: Nine Questions to Ask to Determine Your Exposure

Polsinelli on

There is an increased interest in cyber security insurance for businesses amid frequent news of computer hacking, network intrusions, data theft, and high-profile ransomware attacks. Originally published in Houston...more

Bradley Arant Boult Cummings LLP

Understanding cyber insurance risks of target companies

Due to the dramatic increase and changing nature of cyber risks, mergers and acquisitions due diligence should expand to address cyber risks, available risk mitigation practices, and available insurance. Acquiring companies...more

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