News & Analysis as of

Hackers Commercial Insurance Policies

Bilzin Sumberg

Cyber Insurance Carriers, Increasingly Targeted by Hackers, Impose New Coverage Conditions

Bilzin Sumberg on

Insurers that offer coverage for cyberattacks find themselves playing both offense and defense lately. As they await possible action by Congress to enact federal cybersecurity legislation, the insurance industry has gone on...more

Akerman LLP

The New NYDFS Cyber Insurance Risk Framework – Required Reading for Insurers and Insureds

Akerman LLP on

The New York Department of Financial Services ("NYDFS") recently released its Cyber Insurance Risk Framework (the “Framework”), which provides best practices for managing cyber insurance risk....more

Epstein Becker & Green

Cyber Coverage in the Age of COVID-19 Need Not Result in Pandemonium

Epstein Becker & Green on

While businesses and their employees continue to operate in the “new frontier” of working-from-home during the COVID-19 pandemic and the gradual reopening of the economy, a serious risk continues to present itself: the threat...more

Carlton Fields

Ransomware Attack Replacement Costs Are Covered “Direct Physical Loss or Damage” Under Standard Business Owner’s Policy, According...

Carlton Fields on

A Maryland federal court recently weighed in on the still-murky world of insurance coverage for cybersecurity losses, finding replacement costs necessitated by a ransomware attack were “direct physical loss or damage” to a...more

Nilan Johnson Lewis PA

Recent IoT Class Actions Highlight Need for Manufacturers & Vendors of Connected Products to Be Aware of Liability Risks

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The Internet of Things (IoT) products have become a way of life. There are huge benefits of “smart” products, which interact through the internet to gather and exchange data to provide additional functions, security, and easy...more

Troutman Pepper

New Case May Signal Greater Likelihood That Insurers Are on the Hook for Coverage in Phishing Attacks

Troutman Pepper on

A new Sixth Circuit decision may signal an emerging trend on whether insurers must cover claims made by policyholders who fall victim to phishing scams....more

Bradley Arant Boult Cummings LLP

2018 Allianz Risk Barometer Highlights Business Interruption and Cyber as Two Most Important Risks of New Year

Allianz’s yearly survey of nearly 2,000 risk experts from 80 countries highlights business interruption and cyber incidents as the top two major threats for companies through 2018 and beyond. Forty-two percent of responses...more

Mintz - Privacy & Cybersecurity Viewpoints

Global Ransomware Attack Update

We’ve been following the latest on the WannaCry ransomware attack that we first told you about over the weekend. A feared “second strike” did not materialize today, but victimized firms in over 100 countries are still...more

Jones Day

WannaCry: The Global Ransomware Attack

Jones Day on

A new and widespread ransomware attack is affecting institutions around the world, with reports of hundreds of thousands of infections in nearly 150 countries, including the United States, United Kingdom, Spain, Russia,...more

Perkins Coie

Ransomware: How to Avoid It and What to Do If You Have Been Hit

Perkins Coie on

Computer systems around the world have been impacted by the largest cyber-extortion attack in history. According to news reports, the “ransomware” attack hit more than 200,000 victims in 150 countries since it started on...more

Carlton Fields

Phishing for Cybersecurity Coverage: When is a Fraud a “Computer Fraud”?

Carlton Fields on

In late June, the New York Court of Appeals affirmed a trial court ruling that there was no coverage for a health insurance company policyholder, under a “Computer Systems Fraud” rider issued by its insurer, for an underlying...more

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