News & Analysis as of

Data Breach Policy Terms Insurance Claims

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

Home Depot Ruling Tolls Death Knell For 'Silent Cyber'

Zelle LLP on

A Jan. 13 decision out of the U.S. Court of Appeals for the Sixth Circuit is one more nail in the coffin of "silent cyber." In Home Depot Inc. v. Steadfast Insurance Co., the federal appellate court agreed with the lower...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

Morris, Manning & Martin, LLP

Insured Files Lawsuit Over Coverage for Disclosure of Private Health Information

An insured who purchased insurance specifically for privacy injury liability was recently forced to sue its insurer after it denied coverage. The insured allegedly “installed web beacons and cookies on its platforms so that...more

Carlton Fields

Square Peg, Round Hole: 6th Circuit Affirms Finding That Cyber Claims Are Not Covered by CGL Policies

Carlton Fields on

In Home Depot Inc. v. Steadfast Insurance Co., Home Depot learned the hard way a rule every DIY enthusiast knows: measure twice, cut once. It appears Home Depot’s measurements were off when it sized up its insurance needs,...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

Rivkin Radler LLP

Insurance Update - September 2023

Rivkin Radler LLP on

We touch upon several topics in our September Insurance Update. We begin with two federal circuit court rulings on late notice – one involving a claims-made policy and the other an occurrence policy. In these cases, the...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

Jones Day

Policyholders Should Not Overlook Traditional Policies in Evaluating Coverage for Cryptocurrency-Related Risks

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Introduction - Cryptocurrency, such as Bitcoin, is a decentralized and exclusively virtual currency that is secured through cryptography. Companies using or investing in cryptocurrency face various risks, such as market...more

J.S. Held

What Forensic Accountants Should Consider When Analyzing a Business Interruption Insurance Claim Following a Ransomware Attack

J.S. Held on

As businesses continue to rely on computers and digital storage of important data, cyberattacks are a growing potential threat to these organizations—especially now, as businesses have transitioned their workforces to work...more

Bilzin Sumberg

New Jersey Court Rules “Acts of War” Insurance Policy Exclusion Inapplicable to Russian Malware Attack

Bilzin Sumberg on

Pharmaceutical giant Merck won a major victory over its insurance carrier in New Jersey Superior Court recently. Merck’s victory means its carrier is liable to pay out up $1.4 billion to Merck for alleged losses arising out...more

Holland & Knight LLP

Food and Beverage Law Update: July 2021

Holland & Knight LLP on

"The overwhelming majority of courts have concluded that neither COVID-19 nor the governmental orders associated with it cause or constitute property loss or damage for purposes of insurance coverage." So concluded the...more

Farrell Fritz, P.C.

COVID coverage for business losses? “No,” says the first New York court to address the issue of whether a business interruption...

Farrell Fritz, P.C. on

COVID-19 continues to generate litigation in a variety of contexts in the Commercial Division.  Only two weeks ago did our colleague Madeline Greenblatt author a blog about COVID-19 not excusing commercial rental obligations....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

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

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