General Business Insurance Science, Computers & Technology

Read need-to-know updates, commentary, and analysis on General Business issues written by leading professionals.
News & Analysis as of

Cyber Insurance: A Last Line of Defense When Technology Fails

As cyber risks increase, specialized insurance policies can protect companies, but only if those policies are appropriately tailored and negotiated. Daily news headlines reveal the escalating, and costly, problem of...more

CYBER INSURANCE 101: Coverage Issues Related to Cyber Attacks and Cyber Insurance

The Rise of Cyber Attacks - On October 3, 2013, Adobe Systems Inc., the computer software giant responsible for staple software products such as Adobe Acrobat and Photoshop, announced that its security team had...more

Have You Asked All The Right Questions?

In a recent alert, we outlined potential risks businesses face in the wake of cyber security threats as a result of inadequate data protection. 2013 had the highest number of recorded data breaches in over a decade....more

2014 May Be Cyber Insurance's Most Popular Year Yet

February 2014 may ultimately be seen as the month when the cyber insurance coverage market really began. Although certain insurance companies are writing cyber coverage, and some insureds have acquired that coverage, neither...more

Message from New York Court: Rely on CGL Policy Coverage for Data Breaches at Your Own Peril

A New York trial court announced a decision on February 21, 2014, that may be a harbinger of wide-reaching limitations on insurance coverage for data breaches under commercial general liability (CGL) policies. The court’s...more

Personal Injury Coverage Does not Apply to Data Breach

According to a Law360 report, Sony Units Denied Coverage For Suits Tied To Cyber Attack (subscription required), a New York state judge ruled last Friday in the Zurich v. Sony insurance litigation that the stealing of...more

Cyber breach insurance: What, me worry? - Part of counsel’s job may be to ensure that the department in the company that “owns”...

One of us recently asked an in-house counsel friend in charge of litigation for a major company what questions he had about cyber insurance. His response, besides a blank look, was “I’m sure someone else in the company...more

Cyber-insurance: Mitigating the dreaded Friday night phone call - In order to maximize coverage, companies need to make a claim...

Every in-house counsel dreads the telephone call on a Friday evening that starts with the words “I’m glad I found you.” That’s especially true if that telephone call informs the in-house counsel about the newly terminated IT...more

Cyber Espionage And Insurance Coverage

In the United States alone, it is estimated that the cost of “[c]yber-espionage and other malicious cyber crimes...[i s] between $24 billion and $120 billion annually.” In 2008, the U.S. Department of Defense’s classified...more

Assessing Cyber Threats - The Blind Spot Between Perception and Realty

A recent survey by the Ponemon Institute entitled, “Cyber Security Incident Response: Are We as Prepared as We Think?,” suggests that many companies lack the mechanisms to meaningfully address cyber risk. Among the survey’s...more

Before Becoming The Next Target: Recent Case Highlights The Need To Consider Insurance For Data Breaches

If only one of Target, Snapchat, Facebook, Twitter, Adobe, and so on and so forth, had suffered a serious data breach within the last few months that would be sufficiently troubling. Yet data breaches have become so...more

Cyber Law Tracker: Recall Total v. Federal Ins. Co. – No Coverage for Data Breach under Commercial General Liability Policy

On January 14, 2014, the Connecticut Appellate Court issued a decision in Recall Total Information Management, Inc., et al. v Federal Insurance Company, et al., __ Conn. App. ___, 2014 WL 43529 (Conn. App. Ct. Jan 14, 2014),...more

Cyber Risk Is The “New Normal”

Introduction - Make no mistake, all companies—big or small—are vulnerable to a privacy breach or a network security incident. Cyber liability is the “new normal.” Cyber liability can be attributable to human error,...more

Insurance Coverage for Cyber Attacks

Thefts of trade secrets through cyber espionage and cyber harassment through distributed denial of service attacks have been business hazards for years. Cyber security insurance policies to guard against these threats have...more

OIG Advisory Opinion 13-15 - Anesthesiologists: Chickens or Eggs?

It is often said that advisory opinions are requested from the U.S. Office of Inspector General (OIG) when one wants a very safe deal blessed or when one wants to dissuade a competitor or counter-party from entering into or...more

APRA Releases Prudential Practice Guide On Managing Data Risk

The Australian Prudential Regulation Authority ("APRA") has issued the final version of its new prudential practice guide, "Prudential Practice Guide CPG 235 - Managing Data Risk" ("Data Guide"). The Data Guide aims to assist...more

OIG Report Concludes that Physician-owned Distributors Increase Utilization

In response to the U.S. Senate Committee on Finance’s continued questioning of physician-owned distributorships (PODs), the U.S. Department Health and Human Services Office of the Inspector General issued its long-awaited...more

NIST Releases Preliminary Cybersecurity Framework: Comments Next and Final Due In February 2014

On October 22, 2013, the National Institute of Standards and Technologies (NIST) released its “Preliminary Cybersecurity Framework,” with comments due 45 days after publication in the Federal Register. NIST expects the window...more

Cyber Insurance - Selecting the Right Policy to Identify and Mitigate Risk

Given the prominence of recent cyber attacks, the importance of comprehensive cyber security policies in both the private and public sectors has received increased attention. As part of a comprehensive approach to cyber...more

How to Purchase “Cyber” Insurance

“Cyber” insurance can be an extremely valuable asset in an organization’s strategy to address and mitigate cyber security, data privacy and other risks. But selecting and negotiating the right insurance product can present a...more

Computer Crime Insurance Coverage: Can It Cover Fraudulent Entries Submitted by an Authorized User?

In a recent decision, New York's appellate court considered whether a "Computer Systems Fraud" insurance policy rider (Policy) covered losses that Universal American suffered as a result of fraudulent claims electronically...more

Recent California Decision Holds That Privacy/Data Breach Liability Covered Under “Traditional” Insurance Policy

In an October 7th decision, the United States District Court for the Central District of California upheld coverage under a commercial general liability policy for a hospital data breach that compromised the records of nearly...more

Insuring Your Company Against Cyber-Attacks

Earlier this month, the Department of Justice announced the indictment of 13 individuals associated with the hacker organization Anonymous for a widespread scheme to disrupt and shut down commercial and government websites....more

Health Reform + Related Health Policy News - October 2013

In This Issue: - Top News ..Judge Orders $237.4 Million Penalty Against Tuomey for Stark Law and False Claims Act Violations ..Glitches and Demand Lead to Marketplace Frustration ..HHS Delays Small...more

New York Appellate Court Affirms No Coverage Under Computer Fraud Coverage

In its recent decision in Universal American Corp. v. National Union Fire Ins. Co. of Pittsburg, PA, 2013 N.Y. App. Div. LEXIS 6278 (N.Y. 1st Dep’t Oct. 1, 2013), the New York Appellate Division, First Department, had...more

127 Results
|
View per page
Page: of 6

Follow General Business Updates on: