News & Analysis as of

Hackers Policy Exclusions

Latham & Watkins LLP

War Exclusion Developments in Cyber Insurance Policies

Latham & Watkins LLP on

Policyholders have options when it comes to war exclusions in cyber insurance policies, a focus area for insurers following recent cyberattacks. Key Points: ..Insurers have asserted that war exclusions may preclude...more

Ervin Cohen & Jessup LLP

Companies That Pay Hackers May Be Able to Recoup Their Losses

Where companies are victimized by ransomware or email scams, their losses arise from payments made by an officer or employee of the company. In the case of ransomware, a company’s files are held hostage pending payment...more

Carlton Fields

Federal Court Rules “Unauthorized Network Access Exclusion” Precludes Coverage for $1.3M Payment From Hacker’s Fraudulent Email

Carlton Fields on

The U.S. District Court for the Eastern District of Pennsylvania ruled that an insurance policy issued by Federal Insurance Co. excluded coverage for the transmission of $1.3 million by the insured in response to an email...more

Womble Bond Dickinson

Will an Act of War Destroy Your Cyberinsurance Coverage?

Womble Bond Dickinson on

Cyberinsurance spurs many complaints from US business. The cost is skyrocketing, retentions (deductibles) are rising quickly, and the insurance companies push their own panel lawyers on customers despite other relationships....more

Pillsbury - Policyholder Pulse blog

Cyber Coverage by any Other Name Can Smell as Sweet. Maryland Court Rules Traditional Property Policy Covers Loss of Data and...

Cyberattacks are an increasingly frequent and costly risk faced by almost every business today. While the availability and scope of cyber-specific insurance has developed exponentially over the past few years, it is important...more

Poyner Spruill LLP

The Art of (Cyber) War, Or How A Little Known Policy Exclusion Can Nullify Your Insurance Coverage

Poyner Spruill LLP on

In June 2017, the NotPetya virus crippled many large companies including Merck and Mondelez (the manufacturer of Nabisco, Cadbury, and Toblerone). The aggregated losses, including property damage, operational disruptions, and...more

Bradley Arant Boult Cummings LLP

Cyber Insurance: Court’s Recent Decisions May Change What Your Policy Covers

Cyber incidents can take many forms—phishing, insider theft, SQL injection, malware, denial of service, session hijacking, credential farming, or just old fashion “hacking.” Although many of these attack vectors employ...more

Locke Lord LLP

Testing the Limits III – Cyber Coverage Litigation Focuses on Computer Fraud Losses

Locke Lord LLP on

Fraudsters deploy different computer-related techniques but toward the same end – “gaming the system” for their own financial gain. Some victims turn to insurance for recovery. Four recent federal appellate decisions reveal...more

Steptoe & Johnson PLLC

First Look - Summer 2018: Insurance Newsletter

Steptoe & Johnson PLLC on

Your company’s computer system has been compromised by a hacker. From your initial investigation, you discover that the hacker has accessed proprietary company information and customer information including Social Security...more

McGuireWoods LLP

Sixth Circuit Finds Coverage Under Crime Policy for Business Email Compromise

McGuireWoods LLP on

For the second time in ten days, a federal appeals court ruled a crime insurance policy provides coverage for losses arising from a business email compromise. In American Tooling Center, Inc. v. Travelers Casualty and Surety...more

White and Williams LLP

No Coverage for Seafood Importer Netted in Phishing Scam

White and Williams LLP on

On April 16, 2018, Beazley Group issued a report highlighting increased attacks on Microsoft’s cloud-based business products and services. The report stated that successful attacks typically are achieved by tricking employees...more

Bradley Arant Boult Cummings LLP

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

Dentons

Hacked and Left Holding the Bag - Cyber Liability Issues

Dentons on

If you read any newspaper, trade publication or twitter feed, you know that ongoing concerns regarding cyber security continue to grow. We have seen an article in the New York Times discussing hacking of major law firms with...more

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