Popular, Cyber Crimes, Insurance Industry

Don’t Get Caught in Scattered Spider’s Web

McCarter & English, LLP on 6/19/2025

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

The Cybersecurity Insurance Market: What to Expect in 2023

Ankura on 3/20/2023

In recent years, especially through 2019 and 2020, the cyber insurance market in the U.S. has seen significant growth. Middle-market companies have been actively requesting cyber insurance policies with low rates and broad...more

How to Avoid the Most Common Causes of Cybersecurity Incidents

J.S. Held on 4/29/2022

Cybercrime is at an all-time high, with just the cybercrime insurance industry alone expecting to grow from $8 billion globally in 2020 to $20 billion by 2025.1 Although cyber liability insurance policies now exist to help...more

Part Five: Reviewing Key U.S. Insurance Decisions, Trends, & Developments

Hinshaw & Culbertson - Insights for Insurers on 3/7/2022

Cyber Security And Privacy Insurance Claims - This is the fifth installment of our series of articles reviewing some of the key trends and developments currently impacting the U.S. insurance industry. To date, the vast...more

Ninth Circuit’s Fraudulent Payments Coverage Ruling Has Implications for Cyber Insurance Purchasers

Cooley LLP on 2/3/2022

In a decision with significant implications for policyholders seeking coverage for social engineering scams and cybercrime losses, the US Court of Appeals for the Ninth Circuit held in Ernst and Haas Management Company, Inc....more

Fifth Circuit Requires Insurance Coverage for Cyberattack on Payment-Processing System

Arnall Golden Gregory LLP on 9/22/2021

Cybercriminals continue to find payment card data enticing. And despite the increasingly stringent safeguards designed to prevent misappropriation, payment credentials are routinely compromised. We have recently written about...more

COVID Rulings May Support Ransomware Insurance Denials

Zelle LLP on 6/18/2021

Ransomware attacks were already on the rise prior to the COVID-19 pandemic, but the prevalence of such cyberattacks substantially increased during the pandemic due, in part, to additional security risks associated with the...more

Cybersecurity Insurance: Does Our Business Need It?

Fisher Phillips on 2/21/2019

By now, we are all too familiar with the issues and pitfalls associated with cybersecurity breaches in a multitude of industries. Consider Equifax, Home Depot, Yahoo or Target, to name a few. Those well-publicized incidents...more

New Case May Signal Greater Likelihood That Insurers Are on the Hook for Coverage in Phishing Attacks

Troutman Pepper Locke on 7/31/2018

A new Sixth Circuit decision may signal an emerging trend on whether insurers must cover claims made by policyholders who fall victim to phishing scams....more

Eleventh Circuit Rules There Is No Coverage under Crime Policy’s Computer Fraud Component

Pillsbury - Policyholder Pulse blog on 5/22/2018

Remember the “good” ol’ days when the run-of-the-mill theft involved someone physically taking something tangible? That is so 20th century. Now, thieves and fraudsters are able to use computers and the internet to carry out...more

Data Privacy + Cybersecurity Insider - March 2018 #2

Robinson & Cole LLP on 3/9/2018

Cybersecurity Task Force Launched in Arizona - Arizona Governor Doug Ducey launched the Arizona Cybersecurity Team (ACT) by Executive Order on March 1, 2018. The ACT is comprised of 22 members representing officials from...more

Cyber Insurance: Managing Your Cyber Liability and Avoiding Coverage Gaps

Hogan Lovells on 11/21/2017

Mark Goodman is a partner in our San Francisco office. In this hoganlovells.com interview, he addresses the need for companies to manage their cyber risk and the role that insurance plays in an organization’s overall risk...more

The evolving cyber insurance market: How IT companies, financial institutions, and other nontraditional players can offer cyber...

Hogan Lovells on 11/15/2017

In this hoganlovells.com interview, Hogan Lovells counsel Robert Fettman discusses the evolution of cyber insurance, the level of regulatory oversight applied to covered entities, and ways that noninsurance companies can...more

Is Your Business Insured Against A Cyber Attack?

Partridge Snow & Hahn LLP on 10/20/2017

Your business has insurance coverage for flood and fire damage. You are protected if an employee gets into a car accident. But are you covered for a cyber attack?...more

Five Coverage Tips from Recent E-mail Scam Insurance Decisions

Orrick, Herrington & Sutcliffe LLP on 8/25/2017

The number of decisions considering claims for insurance coverage resulting from Business Email Compromise (“BEC”) scams has been increasing, providing policyholders with some hope, and some clarity, in this muddy area....more

New York State Releases Final “First-In-Nation” Cybersecurity Rules

Cadwalader, Wickersham & Taft LLP on 3/2/2017

The New York Department of Financial Services (“DFS”) recently released the much-anticipated final version of its “first-in-nation” cybersecurity rules that it first announced in the fall of last year. The rules require a...more

6 Things to Know About Cyber Liability Insurance

Lowndes on 1/27/2017

Are you covered? Here are 6 things to know about cyber liability insurance (also known as data breach insurance): Coverage is still evolving. Over 60 insurance companies – maybe more – offered such a policy; however,...more

The State of Cybersecurity in 2016 and the (potential) Great Cyber Fire

Robinson+Cole Data Privacy + Security Insider on 1/3/2017

Cybersecurity hit the news hard in 2016. The number of high profile, and troubling, cyber incidents increased significantly. The Democratic National Committee and one of Clinton’s top advisor’s being hacked, with leaked...more

Privacy & Cybersecurity Update: New York State Proposes Cybersecurity Regulation for Financial Institutions

Skadden, Arps, Slate, Meagher & Flom LLP on 9/15/2016

New York state has proposed a new regulation — to go into effect January 1, 2017 — that would require banks, insurance companies and other financial services institutions regulated by the New York State Department of...more

Black Hat Reports Increase in Cybersecurity Concerns

Robinson+Cole Data Privacy + Security Insider on 7/21/2016

The 2016 Black Hat Attendee Survey was published in advance of the 2016 Black Hat Conference. Not surprisingly, the respondents to the survey conveyed an increased concern regarding security breaches versus 2015. An alarming...more

How Can That Not Be Covered? I Have Cyber Insurance! - Failing to negotiate coverage enhancements can leave huge holes in your...

Holland & Knight LLP on 1/11/2016

In the past few years, many companies have purchased cyber liability insurance to help cover their risk of computer fraud or attack. However, if not properly negotiated, some cyber insurance policies may not fully protect...more

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