General Business Insurance Science, Computers & Technology

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New Case Highlights Deep Hole in Cyber Insurance Policies

Insurance policies covering data breach liability began appearing roughly ten years ago. We noted then a troublesome provision in some forms that seemed to exclude coverage for the insured’s failure to maintain data security...more

Cybersecurity Coverage Litigation: Learning to Survive After the Second Wave Hits

It’s a familiar pattern. First, new risks inspire legislation and regulations that impose new penalties. Next, insurers and policyholders fight over whether the new liabilities are covered under traditional liability...more

Telematics and Usage-Based Insurance

The NAIC’s Center for Insurance Policy and Research (CIPR) released a white paper analyzing the future of "telematics" in premium rate-making by auto insurers. Telematics allow for the measurement of actual driving...more

Don’t Wait Until It’s Too Late: Top 10 Recommendations for Negotiating Your Cyber Insurance Policy

As more and more companies of all sizes ranging across a wide spectrum of industries have been exposed to network and data security breaches in recent years, the market for insurance products dedicated to cover cyber risks...more

The Devil in the “Cyber” Insurance Details

There’s a tempest amidst the recent spring shower of “cyber” insurance cases. It isn’t the Recall Total case reported the week before last, or the Travelers v. Federal Recovery Services case reported the week before. While...more

Protecting Directors and Officers From Derivative Liability Arising From Data Breaches

With data breaches affecting companies across virtually every industry, cyber security has remained front page news. Lawsuits brought by aggrieved consumers and financial institutions against companies that have suffered data...more

Insurers' Denials of Cybersecurity Claims Receive Judicial Support

Although cybersecurity-specific insurance has become more popular in recent years, some policyholders have attempted to obtain insurance for cybersecurity losses under their commercial general liability (CGL) policies. The...more

Connecticut High Court Weighs in on CGL Coverage for Data Breach

In a highly anticipated May 26th decision, the Connecticut Supreme Court ruled that two CGL insurers, Federal Insurance Company and Scottsdale Insurance Company, are not required to cover losses in connection with the...more

Connecticut Supreme Court’s Insurer-Friendly Decision on Data Breach Incident

On January 27, 2014, the Sedgwick Insurance Law Blog posted the following summary entitled, “ Highway Data Dump – Who are You Going to Call to Recover $6 Million?,” addressing the appellate decision in Recall Total Info....more

Will Your Cyber Insurance Respond When You Need It Most?

On May 7, Columbia Casualty Company, an insurance company, filed one of the first lawsuits by an insurer seeking to deny coverage for a privacy class action under a cyber insurance policy. Why is this significant? As the...more

Data Breach Insurance: Does Your Policy Have You Covered?

Recent developments in two closely watched cases suggest that companies that experience data breaches may not be able to get insurance coverage under standard commercial general liability (CGL) policies. CGLs typically...more

Will Your Cyber Insurance Respond When You Need It Most?

On May 7, Columbia Casualty Company, an insurance company, filed one of the first lawsuits by an insurer seeking to deny coverage for a privacy class action under a cyber insurance policy. Why is this significant? As the...more

Five Takeaways from the First Cyber Insurance Case

On May 11, 2015, in a case that is being widely celebrated as one of the first coverage rulings involving a “cyber” insurance policy, a federal court ruled that Travelers has no duty to defend its insured in Travelers...more

Data breach coverage denial upheld by Connecticut Supreme Court

In a 3 page per curiam decision issued this week, the Connecticut Supreme Court upheld a lower court’s decision holding in Recall Total Information Management, Inc., et. al v. Federal Insurance Company, that Federal Insurance...more

Connecticut Affirms Personal Injury Coverage for Data Breach Requires Actual Publication

As expected, the Connecticut Supreme Court has affirmed decisions by both the trial court and intermediate appellate court that personal injury liability coverage for a business’s data loss or theft requires publication as a...more

Connecticut Supreme Court Affirms No Coverage for Lost Tapes Absent Publication of Data

In Recall Total Information Mgmt., Inc. v. Federal Ins. Co., SC19201 (Conn. May 18, 2015), the Connecticut Supreme Court held that where there was no factual support that anyone ever actually accessed private information...more

Cybersecurity: Integral to Overall Risk Management for Insurers and TPAs

Recent data breaches have brought cybersecurity to the attention of insurance companies, and serve as a reminder to third party administrators ("TPAs") that cybersecurity issues are a serious compliance and regulatory...more

Cyber Liability Insurance: Protection Worth the Search

New risks present themselves before insurance policies exist to cover them. When a risk materializes, insureds want their insurers to cover them under familiar existing insurance policies, while insurers resist on the ground...more

Allegations of Purposeful Data Withholding Do Not Trigger Cyber E&O Coverage

In Travelers Property Casualty Co. of America v. Federal Recovery Servs., Inc., Case No. 2:14-CV-170 TS (D. Utah May 11, 2015), the United States District Court for the District of Utah held that where a cyber liability...more

Insurance Regulatory Bellwether: NAIC Adopts 12 Principles for Effective Cybersecurity for Regulators

The National Association of Insurance Commissioners (“NAIC”) is all over cybersecurity. On April 16, 2015, as a part of its aggressive work plan to help the insurance sector come up with an effective cybersecurity framework...more

Technology Companies: When a Product Complaint Arises, Will Your Insurance Cover the Claims?

- Sometimes, technology products contain flaws. - Purchasers may complain to the manufacturer about the flawed products, and some complaints become multi-million dollar liabilities. - After receiving such a...more

Addressing Cyber Attacks and Data Breaches in Supplier Contracts - Part 1: Contractual Protections With Respect to Data Breaches

Given the unrelenting, it seems, news reports of cyber attacks and data breaches affecting customer records and data, the issue of what are the appropriate contractual provisions that should govern data breaches in a contract...more

IREG Update

Cybersecurity and the Insurance industry - Cybersecurity is quickly emerging as a top policy issue for insurance regulators. Speaking at a Dow Jones Risk & Compliance forum last week, on April 21, 2015, New York...more

Insurers Pay to Avoid a Precedent Finding CGL Coverage for a Cyberbreach – the Zurich v. Sony Settlement

It was reported today that the widely-watched data breach case, Zurich American Ins. Co., et al  v. Sony Corp. of America (N.Y. Sup. Ct. Feb. 21, 2014), has been settled before the New York appellate court could issue an...more

Cybersecurity is a Real Risk, So Become “Compromise Ready”

Many have heard that “it is not a matter of if a company will be attacked, but when.” Statements like this used to be met with skepticism – companies would say we do not have information hackers want, we outsource our...more

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