Cyber Insurance

News & Analysis as of

NAIC Report: 2014 Spring National Meeting

The National Association of Insurance Commissioners (NAIC) met for its Spring National Meeting in Orlando, Florida from March 29 through April 1. Typical for the first national meeting of the year, much activity was focused...more

The Heartbleed Lesson for All Companies? Manage the Risk...

Threats to data privacy are not going away, but establishing appropriate security measures up-front, performing regular stress-tests on a security system, putting in place procedures to address a data breach and implementing...more

Surplus Lines Insurance in Texas: A Dark Horse

Texas is the second largest surplus lines insurance market in the United States, collecting over $4 billion in premiums annually. Surplus lines insurance is important as it can provide insurance to those whose needs are not...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

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

"Cybersecurity: Amid Increasing Attacks and Government Controversy, a Framework to Reduce Risk Emerges"

2013 likely will be considered a watershed period in the role of cybersecurity in corporate strategy and management. While there were few significant legislative developments, a marked increase in cybersecurity attacks...more

Retail Industry On High Alert In Wake Of Security Breaches

The massive cyber-security breach at Target put the company in the media spotlight with as many as 110 million customers potentially at risk. With another security breach reported at Neiman Marcus, dozens of lawsuits have...more

How To Catch-Up in a Revised HIPAA World

The HIPAA final omnibus rule (Omnibus Rule) made sweeping changes to the HIPAA Privacy, Security, Breach Notification and Enforcement Rules earlier this year. Although the compliance deadline of September 23, 2013 has come...more

Is That Covered? Business Insurance Audit

Does your business client have the right amount of liability insurance coverage? What is a co-insurance penalty? Is your client covered for a product recall? What is cyber liability coverage and should your client have it?...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

Business Litigation Report -- December 2013

In This Issue: Firm News: ..Quinn Emanuel London Sweeps in Legal 500’s United Kingdom Awards 2013 ..Quinn Emanuel Named to Law360’s List of the “Most Feared Plaintiffs’ Firms” and The National Law Journal’s...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

Cyber Risk Trends for 2014

According to recent post from Property Casualty 360°, The Six Trends of Cyber Risk in 2014, insurers need to know: 1. Data breach costs are trending downward. The cost per record to respond to a breach dropped from...more

NIST Unveils Preliminary Cybersecurity Framework

On October 22, the National Institute of Standards and Technology (NIST) released its long-anticipated Preliminary Cybersecurity Framework for public review and comment. The Cybersecurity Framework was issued in accordance...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

Board Oversight of Cyber Security and Cyber-Security Disclosures: Answers to Some of the Key Questions

Cyber security is top of mind for companies, and cyber-security oversight is top of mind for corporate directors. I recently co-moderated a panel discussion for directors on board oversight of cyber security and...more

ISO's Newly-Filed Data Breach Exclusions Provide Yet Another Reason To Consider "Cyber" Insurance

Here a breach, there a breach, everywhere a data breach. Verizon’s most recent 2013 Data Breach Investigations Report remarks that “[p]erhaps more so than any other year, the large scale and diverse nature of data breaches...more

New Trends To Watch In Cyber Risk Insurance

Although specific cyber risk insurance policies are becoming increasingly common, claims related to data breaches continue to be submitted under commercial general liability policies. Some recent decisions addressing these...more

Help Clients Insure Against Cyberattacks

The constant threat of cyberattacks presents many and varying challenges for businesses. Insurance provides one way to deal with them....more

Insurance Coverage for Cyber Attacks - Part Two of a Two-Part Article

Last month, Part One of this article addressed the role of traditional insurance in covering cyber risks. This second installment first continues the discussion of traditional insurance coverages and then addresses specialty...more

Cyber Risk Insurance - Navigating The Application Process

More and more companies are considering specialized cyber insurance policies to insure against cyber breaches. ...more

For Small Business Owners, Cybersecurity Is Not a Question of "If" But 'When..."

While much of the discussion around cybersecurity tends to focus on critical information sectors, national security, and the concerns of global corporations, data breaches can be just as devastating for small and medium-sized...more

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