News & Analysis as of

Ransomware Data Breach Insurance Industry

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

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

Morris, Manning & Martin, LLP

Navigating AI Risks. Part III: Leveraging Insurance to Mitigate AI Risks

Part III: Leveraging Insurance to Mitigate AI Risks - As boards navigate the complex landscape of AI integration, the risks associated with this powerful technology are multifaceted and evolving. From potential data breaches...more

Spilman Thomas & Battle, PLLC

Decoded - Technology Law Insights, V 5, Issue 7, August 2024

Welcome to our seventh 2024 issue of Decoded - our technology law insights e-newsletter. We have a few events we want to pass along to those interested in technology, but also other areas of law and business. ...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

Hinshaw & Culbertson - Privacy, Cyber & AI...

Ohio Supreme Court Rules No Coverage For Ransomware Attack Under BOP Policy Because Computer Software Sustained No Direct Physical...

The Ohio Supreme Court waited until the last week of the year to issue what may be the most important silent coverage decision of 2022. Direct physical injury is a fundamental requirement of first-party property policies. The...more

Kohrman Jackson & Krantz LLP

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

Ransomware insurance coverage has become increasingly popular in recent years as the threat of ransomware attacks has continued to grow. However, despite the widespread adoption of this type of insurance, there are still...more

Patterson Belknap Webb & Tyler LLP

Compounding Consequences for Australian Health Insurer Following Breach

Medibank, one of Australia’s largest private health insurers, detected a ransomware attack in October 2022.  The attackers, believed to be part of a criminal organization based in Russia, exfiltrated approximately 9.7 million...more

Woodruff Sawyer

How a Cyber Attack Triggers Multiple Parts of a Cyber Security Insurance

Woodruff Sawyer on

Cyber liability insurance coverage is not a one-size-fits-all blanket policy that can be applied to all types of businesses. Every organization has choices as to what types of cyber liability coverage it needs to protect...more

Farella Braun + Martel LLP

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

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

Akerman LLP - Health Law Rx

Healthcare Cyber Insurance? Fortify Your Defenses

Healthcare breaches, including ransomware attacks, continue to increase. As a result, many healthcare organizations seeking cyber coverage to help defray the costs associated with a ransomware attack or other data incident...more

Lowenstein Sandler LLP

Cyber Insurance Changes in the Aftermath of Log4j

In this episode of Lowenstein’s Cybersecurity Awareness series, Ken Fishkin, Lowenstein’s Manager of Information Security, speaks with Lynda A. Bennett, Chair of the firm’s Insurance Recovery Group, about the impact of...more

Brooks Pierce

Rethinking Your Cyber Insurance Needs as Your Workplace Evolves

Brooks Pierce on

The past 20 months have created a lot of transitions in how people work. Some companies still have the majority of their employees working remotely and intend to keep it that way permanently. Other businesses have tried to...more

Zelle  LLP

Reach Of Ohio Ransomware Ruling Limited To Policy At Hand

Zelle LLP on

We are still in the relatively early stages of jurisprudence addressing the insurability of loss stemming from data breaches. Compared to the more developed body of case law interpreting coverage provisions and exclusions...more

Woodruff Sawyer

[Virtual Event] Cyber Insurance Trends – Looking Ahead to 2022 - January 25th, 10:00 am - 11:00 am PDT

Woodruff Sawyer on

Cyber liability insurance is becoming more ubiquitous, more unpredictable, and in some cases more confusing than ever, which makes understanding your risk even more critical in 2022. Join Woodruff Sawyer experts Dan Burke,...more

McGlinchey Stafford

Do I Have To File A Claim To Foreclose On A Deceased Borrower’s Mortgage? - The Bullet Point: A Commercial Law Bulletin

McGlinchey Stafford on

Ohio- Insurance coverage for data breach- Emoi Servs., LLC v. Owners Ins. Co., 2d Dist. Montgomery No. 29128, 2021-Ohio-3942 In this appeal, the Second Appellate District reversed and remanded the trial court’s...more

Zelle  LLP

Cyber Rulings Aren't Helping COVID Biz Interruption Cases

Zelle LLP on

Along with seeking to analogize COVID-19 physical loss or damage to that in the fumes or contaminants context, policyholders are now also attempting to rely on cases discussing the bounds of physical loss or damage in the...more

Lowenstein Sandler LLP

Cyber Insurance Coverage Market: A House of Cards or Temporary Plateau?

Lowenstein Sandler LLP on

We have all heard about the alarming and ever increasing number of security breaches and ransomware attacks facing businesses. With bad actors continuously evolving and presenting new risks, most companies now fortunately...more

Lowenstein Sandler LLP

The Ransomware Attack Part 2 – How To Respond When The Enemy Overcomes The Gates

Lowenstein Sandler LLP on

This episode is a continuation of Lynda’s conversation with Bridget Choi, Deputy Counsel and Managing Director of Strategy at Kivu Consulting, and David Anderson, VP within Lockton Insurance’s Cyber Technology Group, about...more

Lowenstein Sandler LLP

The Ransomware Attack Part 1 – How To Keep The Enemy At The Gates

In this episode, Lynda is joined by Bridget Choi, Deputy Counsel and Managing Director of Strategy at Kivu Consulting, and David Anderson, VP within Lockton Insurance’s Cyber Technology Group, to discuss the current state of...more

McDermott Will & Schulte

[Webinar] Ransomware Legal Implications and Proactive Solutions - June 24th, 2:00 pm EDT

In the 2020 M-Trends report, it was noted that successful monetization of ransomware attacks and the availability of ransomware as a service have contributed to an increase in ransomware cases. In this session, Paul...more

Pillsbury - Policyholder Pulse blog

Cyber Coverage by any Other Name Can Smell as Sweet. Maryland Court Rules Traditional Property Policy Covers Loss of Data and...

Cyberattacks are an increasingly frequent and costly risk faced by almost every business today. While the availability and scope of cyber-specific insurance has developed exponentially over the past few years, it is important...more

Robins Kaplan LLP

Financial Daily Dose 1.10.2020 | Top Story: Ransomware Attack on Travelex Sows Chaos Across Foreign Exchange Sector

Robins Kaplan LLP on

Hackers who targeted airport currency exchange mainstay Travelex in a ransomware attack on New Year’s Eve have alerted British media that they possess 5 GB of sensitive customer data from the company “since gaining access to...more

BCLP

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

BCLP on

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

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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