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Cyber Attacks Cyber Insurance

Five Pitfalls of Cybersecurity Insurance: Lessons from the United States

by Bennett Jones LLP on

Given the increasing threat of cyberattacks and the corresponding costs, businesses are increasingly considering cybersecurity insurance. But insurance is only as effective as the scope of the coverage. Though Canadian...more

Do you get Bragging Rights if the Malware Infecting your Computer was Named after Zeus?

by Bryan Cave on

Over the last decade as the specter of cyber attacks has increased dramatically, financial institutions have been encouraged to look into the use of cyber fraud insurance as one means of minimizing risk. A recent decision by...more

A Close Look at Policy Wording Is Essential to Ensure Coverage for Cyber Risks

As the demand for insurance coverage for cyber-related losses continues to grow, more insurance companies are offering cyber insurance policies and endorsements, but the market is far from mature and the available policies...more

Insurance When the Internet Goes Down

Business interruption coverage is now a staple of many companies’ insurance programs. One of the “optional” first-party property coverages included in standard property policies, it is intended to compensate companies for...more

6 Things to Know About Cyber Liability Insurance

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

Insurance Coverage for Lost Profits Arising from Cyber Attacks on the U.S. Power Grid – Contingent Business Interruption Coverage...

by McGuireWoods LLP on

The Washington Post reported Friday that Russian hackers had penetrated the U.S. utility grid through Burlington Electric, a Vermont utility. Although the utility later clarified that the attacked computer was not connected...more

The Internet of Things: Is Your Cyber Insurance Protecting You?

by K&L Gates LLP on

When the U.S. Department of Homeland Security, the National Highway Traffic Safety Administration, and the Food and Drug Administration each have issued guidance on the risks to health, safety, and productivity associated...more

Cyber Insurance 101: Read This Before Selecting a Cyber Insurance Policy

by Miles & Stockbridge P.C. on

Several recent, large-scale cyber events, including both data breaches and cyber attacks, demonstrate that companies, both large and small, must protect themselves against the risk of a cyber event. Cyber insurance policies...more

Bryan Cave Data Security Breach Handbook - 2016

by Bryan Cave on

Since the first publication of this handbook in 2014, the legal ramifications for mishandling a data security incident have become more severe. In the United States, the number of federal and state laws that claim to...more

Does Your Insurance Cover Phishing Attacks and Business Email Compromise? The Uncertainty Continues…

by Orrick - Trust Anchor on

The coverage landscape for “Business E-mail Compromise” (BEC) scams remains somewhat tenuous, as organizations and carriers continue to battle in court over the extent of coverage. Although recent positive,...more

Beazley Report Details Increase in Ransomware Attacks

by Nossaman LLP on

A report issued last week by Beazley, one of the prominent insurance companies in the cyber field, revealed what industry experts predicted earlier in the year – ransomware is an increasingly prevalent menace. That report is...more

Ninety-Nine Problems but a Breach Ain’t One: Cybersecurity Lessons for Insurers

by Carlton Fields on

In the movie WallStreet , the character Gordon Gekko famously states that information is the most valuable commodity he knows. These days, the same could be said of data, which can now be bought, sold, and, increasingly,...more

Recent CyberSecurity Incidents Emphasize Importance of Cyberinsurance

by Akerman LLP - Health Law Rx on

As the threat of cyberattacks continues to pose daily threats to businesses large and small, more companies have turned to cyber insurance products to shore up protection against these disruptive threats. A spate of recent...more

Latest Cyber Attack a Wake-up Call: What are your company’s IoT exposures?

by Farella Braun + Martel LLP on

The Internet of Things gives rise to many risks and exposures that companies and their insurers were not thinking about as recently as a couple years ago, and probably aren’t fully cognizant of today....more

Cyber Security and Loss Recovery - A New Alternative for Organizations

by Nexsen Pruet, PLLC on

The largest data breaches ever have occurred since 2015, and targets have encompassed a wide spectrum of entities. Organizations affected range from U.S. DOJ and the IRS—where citizens’ personally identifying information was...more

Prepare for the Hack: Five Things to Keep in Mind when Shopping for Cybersecurity Insurance

by Baker Donelson on

When your company's confidential information ends up on the dark web, it is obviously too late to start thinking about adequate insurance coverage for the barrage of claims and expenses that are about to hit like a tidal...more

Avoiding common law firm cybersecurity pitfalls

by Dentons on

Cybersecurity often causes trepidation among attorneys simply because attorneys lack understanding of the nature of online risks and how to protect themselves. As evidenced in Part One of this series, law firms appear to be...more

Cybersecurity Awareness Month: Visits From the Ghosts of Claims Past and Claims Future

by Carlton Fields on

Cybersecurity awareness month is nigh upon us again, and thus perspective is in order. 2016 brought us the first collection and analysis of the nascent claims history of the burgeoning cyber-insurance market. On August 27,...more

Accountant and Attorney Liability Newsbrief - Fall 2016

by LeClairRyan on

Massachusetts recently amended its pay equity statute, which substantially enforces the protections of the Massachusetts Equal Pay Act. These changes will go into effect in July 2018. The prohibitions against discriminating...more

Ten Things You Need To Know About Ransomware

by Poyner Spruill LLP on

In 2013, hackers attacked a venerable Swansea, Massachusetts institution via ransomware. Ransomware is software that locks users out of computers or specific files until the victim pays a “fee” to release the lock. Such...more

Cyber Risk “IRL”: Insurance Issues Arising from Cyber-Related Property Damage and Bodily Injury Claims

by McGuireWoods LLP on

Many an unhappy modern tale arises when a cyber predator suggests to his victim that they transition their dealings from the virtual world to a meeting “IRL” – “in real life.” But the perils that arise when the internet...more

Health Care Matters, Summer 2016

by JAMS on

Special Masters in Health Care Antitrust Merger Cases: Resolving the Conflicting Interests - One of the most challenging aspects of antitrust cases in the health care field is the rich mixture of public interest...more

Cybersecurity, Cyber Insurance: What Fund Directors Need to Know

by Blank Rome LLP on

Cyberattacks are attempts by hackers to damage, destroy and/or steal data from a computer network or system. From 2013 to 2015, more than 153.6 million people had information stolen in cyberattacks involving companies such as...more

Cybersecurity News & Notes – July 2016 #4

In Case You Missed It: U.S. Major party platforms address cybersecurity. The two major parties have released their 2016 election platforms, both of which include cybersecurity planks. The Republican platform’s perspective...more

Black Hat Reports Increase in Cybersecurity Concerns

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

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Cybersecurity

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