News & Analysis as of

Insurance Industry Cyber Attacks

Bradley Arant Boult Cummings LLP

Defining Artificial Intelligence for Cyber and Data Privacy Insurance

A small but growing number of cyber insurers are incorporating language into their policies that specifically addresses risks from artificial intelligence (AI). The June 2025 issue of The Betterley Report’s Cyber/Privacy...more

Maynard Nexsen

Urgent Cybersecurity Briefing: Scattered Spider Attacks

Maynard Nexsen on

Several insurance companies have been targeted this month by cyberattacks, including AFLAC, Erie Insurance, and Philadelphia Insurance. The threat actor, Scattered Spider, is now focusing on the insurance industry. We want to...more

McCarter & English, LLP

Don’t Get Caught in Scattered Spider’s Web

The cybercrime group known as Scattered Spider is at it again, according to Google’s Threat Intelligence Group. This criminal group is known to focus its cyber attacks on one sector at a time. Last spring, it was the retail...more

A&O Shearman

Medibank class action: navigating the legal privilege maze

A&O Shearman on

Concerns about claims of legal professional privilege over third-party investigation reports produced in the course of responding to cyberattacks, and the extent to which such reports can be shielded from disclosure in legal...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

Sheppard Mullin Richter & Hampton LLP

Auto Insurer Settles With New York AG Over Insurance Application Platform Security Issues

The New York Attorney General recently entered into an assurance of discontinuance with Root Insurance Company following a 2021 data incident. According to the AG, the threat actors obtained people’s drivers’ license numbers...more

Troutman Pepper Locke

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

Troutman Pepper Locke on

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

Hogan Lovells

Navigating the complexities of cyber insurance: a guide for policyholders

Hogan Lovells on

In today's digital age, the cyber threat landscape is changing faster than ever before. As businesses and individuals increasingly rely on technology, understanding the complexities of cyber insurance has never been more...more

Orrick, Herrington & Sutcliffe LLP

NYDFS secures $11.3M in penalties from auto insurers for data breaches

On November 25, NYDFS announced settlements with two auto insurance companies for inadequate data security that compromised the personal information of over 120,000 New York consumers and secured $11.3 million in total...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

Woodruff Sawyer

The Voluntary Parting Exclusion: What You Need to Know

Woodruff Sawyer on

The US Internet Crime Complaint Center (IC3) received more than 880,000 cybercrime complaints in 2023. Overall financial losses from cybercrime last year reached $12.5 billion, a record-setting year-over-year increase of...more

Kohrman Jackson & Krantz LLP

You’ve Been Hacked. Who You Gonna Call?

Your company was hacked. You feel panic, embarrassment, anger, fear and confusion. But you must act quickly, logically and decisively to stop the bleeding and protect your business, your customers and your employees. The good...more

ArentFox Schiff

Health Care Providers Navigate Fallout of Major Cyberattack on Change Healthcare

ArentFox Schiff on

Change Healthcare, an affiliate of Optum and UnitedHealth Group, processes more than 15 billion health care transactions annually and touches one of every three patient records. On February 21, Change disconnected its...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

J.S. Held

2024 J.S. Held Global Risk Report: New Laws Addressing the Risks and Rewards of Artificial Intelligence (AI)

J.S. Held on

The race to develop AI and calls to regulate it are heating up around the world. In November 2023, 28 countries, including the United States, United Kingdom, China, and the European Union, met and pledged to work together to...more

Robins Kaplan LLP

Crack the Code: Evaluating Cyber Claim Exposure

Robins Kaplan LLP on

Small businesses account for 99.9 percent “of all American businesses,” with more than 33.1 million small businesses employing a staggering 61.7 million Americans. There is nothing “small” about their import to the economy or...more

Bond Schoeneck & King PLLC

The Impact of Merck’s NotPetya Policy Claims and a Reported Settlement

By definition, insurance policies represent an exercise in planning for (and hedging against) catastrophe. Cyber insurance for the healthcare industry is no exception. But any hedge is only as good as it’s reliable. Many...more

Woodruff Sawyer

Looking Ahead: Cyber Liability Insurance Concerns in 2024

Woodruff Sawyer on

Followers of the cyber insurance market over the past two years may be suffering from whiplash—that’s how dramatically the market shifted from 2022 to 2023. A perfect storm of good trends and facts combined to create a soft...more

McGuireWoods LLP

Merck-Settlement of $1.4 Billion Coverage Dispute Over NotPetya Cyberattack Places Renewed Spotlight on War Exclusions in 2024

McGuireWoods LLP on

Last week, Merck & Co. filed documents with the Supreme Court of New Jersey indicating that it reached a settlement with its “all risk” property insurers in a long-running coverage dispute involving over $1.4 billion in...more

Eversheds Sutherland (US) LLP

US Treasury Department announces initiatives for further study of a federal insurance backstop for catastrophic cyber events

On November 17, 2023, the United States Treasury Department’s Federal Insurance Office (FIO) and the Volatility and Risk Institute at the NYU Stern School of Business jointly hosted a conference on Catastrophic Cyber Risk and...more

Foley & Lardner LLP

Key Takeaways from Foley & Lardner and NACD Northern California Crisis Management Tabletop

Foley & Lardner LLP on

During this time of “permacrisis,” directors, no matter how experienced, must be ready and able to safeguard their organizations. As part of Foley & Lardner’s sponsorship of the NACD Northern California chapter, and...more

White & Case LLP

The SEC’s Charges Against SolarWinds and its Chief Information Security Officer Provide Important Cybersecurity Lessons for Public...

White & Case LLP on

On October 30, 2023, the US Securities and Exchange Commission ("SEC") announced that it filed charges against SolarWinds Corp. ("SolarWinds" or the "Company") and its Chief Information Security Officer ("CISO") in connection...more

Ward and Smith, P.A.

Healthy Financial Planning: Factoring in the Rising Costs of Insurance Premiums

Ward and Smith, P.A. on

As part of their financial planning and risk-management practices, business owners should regularly take stock of their insurance to ensure that they have the right types and amounts of coverage. In doing so, business owners...more

Woodruff Sawyer

Exploring Cyber Insurance and its Intersection with Property Coverage

Woodruff Sawyer on

There is no doubt that technology, the internet, and the exponential connectivity of all the things we use in our daily lives have created unprecedented efficiency, precision, and oversight for nearly every industry....more

Rivkin Radler LLP

Insurance Update - June 2023

Rivkin Radler LLP on

Courts took up some interesting insurance questions this past month. Here’s some we address in our June Insurance Update. When a government sponsored cyberattack infects computers worldwide, does the war exclusion apply? ...more

160 Results
 / 
View per page
Page: of 7

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide