General Business Privacy Insurance

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

Connecticut Supreme Court Likely To Affirm Personal Injury Coverage For Data Breach Requires Actual Publication To Third Parties

The Connecticut Supreme Court heard oral arguments Monday April 27th on an appeal testing the scope of coverage afforded for a business’s data loss or theft events under its Commercial General Liability insurance’s “Personal...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

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

NAIC Provides Insurers and Regulators with Guidance on Data Security

Cybersecurity risks have become more significant as critical consumer financial and health information is increasingly stored in electronic form. On April 16, 2015, the National Association of Insurance Commissioners (NAIC)...more

Telematics and Usage-Based Insurance: Benefits, Challenges, and the Future

The NAIC’s Center for Insurance Policy and Research (CIPR) released a white paper in March 2015 providing an excellent overview of the brave new world of automobile “telematics” data and their use in premium rate-making by...more

Regulators Examining Cybersecurity Policies and Practices for the Insurance Industry

Shortly after the discovery of a cybersecurity breach at the health insurance company Anthem, Inc., the National Association of Insurance Commissioners (NAIC) called for a multi-state examination of Anthem’s cybersecurity...more

Five Steps To Data Breach Coverage For Card Issuer Liability

Target’s $19 million settlement with MasterCard underscores very significant sources of potential exposure that often follow a data breach incident. In the wake of any significant breach involving payment cards, such as the...more

Up, Up, and Away: Insurance Market for Commercial Drones Set to Take Off

Unmanned Aerial Vehicles (UAVs or Drones) have been in the news increasingly over the past decade. While it began, primarily, with the federal government’s use of Drones through the military and federal law enforcement...more

Protecting the Data Lode: NAIC Addresses Cybersecurity

With cyber-attacks and data breaches making frequent headlines, the NAIC in November 2014 took steps to promote protection of insurance industry information by creating the Cybersecurity (EX) Task Force. The task force will...more

NAIC Amps Up Cybersecurity Oversight

The NAIC has begun its efforts to amp up state insurance department oversight of cybersecurity practices with the release of two documents for public comment. The first, entitled Principles for Effective Cybersecurity...more

Sony and Its Insurers Wrangle over Coverage for Data Breach

According to a Law360 report, Sony Corp.’s lawyers recently asked a New York appeals court to overturn a trial court’s ruling that a data breach did not involve the “publication” of private information within the meaning of...more

Insurer And Online Ticket Company Reach Settlement Stemming From Data Breach

On February 13, 2015, the U.S. District Court for the Northern District of California dismissed with prejudice St. Paul Fire and Marine Insurance Company’s declaratory judgment lawsuit against Vendini, Inc., noting that the...more

Cyber Risk as a Regulatory Issue: Tales of Encryption

Spurred by the prescient reporting found in this space (and, just maybe, by the Anthem data breach, which occurred a week later), insurance regulators have recently engaged in a flurry of regulatory activity relating to cyber...more

Insurance Topics We Will Be Watching in 2015

With the first month of the year behind us, this report outlines major insurance topics that we will be watching throughout 2015. Forces, trends and events that we believe will affect regulation, transactions and...more

New York DFS Announces Targeted Cybersecurity Examinations, Releases Report on Insurance Companies

On February 8, New York DFS Superintendent Benjamin Lawsky announced that the DFS would begin (i) regularly examining insurance companies’ cyber security preparedness; (ii) enhancing regulations that will require insurance...more

Cybersecurity Insurance – One Size Does Not Fit All

With headlines of data breach incidents becoming a weekly, if not daily occurrence, it’s not surprising that many companies are considering whether they should purchase cybersecurity insurance, if they haven’t already. The...more

OCIE's Cybersecurity Risk Alert Provides Insight For Investment Advisers Into Peer Practices

On February 3, 2015, the SEC's Office of Compliance Inspection and Examinations ("OCIE") released a risk alert titled Cybersecurity Examination Sweep Summary providing an overview of how investment advisers and broker-dealers...more

With Self-Driving Vehicles on the Forefront, Companies Should Consider Cyber Insurance Coverage Options

As we move closer to a world of self-driving cars, it is important for companies involved in their manufacture to consider cyber insurance policies to provide coverage for the risks brought by this new technology....more

Trends To Watch In Cyber Liability and Reputational Insurance

With major data breaches again making news, it is important for corporate policyholders to keep abreast of insurance developments in this emerging and fast-moving area. In this update, we provide some thoughts on cyber...more

New York State releases cybersecurity report on insurance industry, will assess New York-regulated insurers’ cybersecurity

The New York Department of Financial Services has released its Report on Cyber Security in the Insurance Sector and announced it will begin conducting targeted cybersecurity assessments of New York-regulated insurance...more

Undercover of the Night – Hacking, Data Breaches And The Terrorism Exclusion

In recent years, there have been several notable large data breaches that have caught the attention of the media. Home Depot and Target are examples of major corporations that have been hacked. ...more

Are Cyber War & Cyber Terrorism Insurable?

The frequency of cyber war and terrorism is no longer the risk. The magnitude of the potential damages is the real threat. It’s conceivable that an enemy of the U.S. government could hack a U.S. energy, water, or fuel...more

Eye on Insurance - A Look Back at 2014 and Forward to 2015

Welcome to our annual “Eye on Insurance”, our round-up of notable developments during 2014, which are relevant to the London insurance and reinsurance markets. This update has been compiled by lawyers in Sedgwick’s London...more

FRANCE: CNIL Adopts New “Compliance Pack” for the Insurance Sector

In November 2014, the French Data Protection Authority (“CNIL”) issued a new “compliance pack” for the insurance sector, following consultations with trade associations. Written by Carol Umhoefer and Mathilde Hallé...more

What Are the Barriers to Autonomous Vehicles? The Answers May Surprise You…

Foley hosted Drive Forward: The Future of Telematics on January 14 and undoubtedly, our speakers agreed – the connected car is here to stay with technology rapidly advancing towards the integration of autonomous vehicles....more

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