Risk Management Cyber Insurance

News & Analysis as of

Think you’re covered? Think again

Commercial General Liability policies (CGL) typically do not include data protection loss coverage, although some insurers offer additional data protection endorsements. Normally those additional endorsements only cover data...more

Cybersecurity, Part 2: Firms should avoid these common mistakes

The idea of cybersecurity may be foreign—or even frightening—to many attorneys. However, as evidenced in Part One of this series ("Cybersecurity: You Can't Afford to Ignore It Anymore," April 25) law firms appear to be the...more

Fourth Circuit Finds Coverage for Cyber Incident under Commercial General Liability Policy

On April 11, the United States Court of Appeals for the Fourth Circuit rendered one of the first appellate-level decisions dealing with insurance coverage for a cyber event. The Fourth Circuit confirmed that a commercial...more

Fourth Circuit Finds That Traditional CGL Policies May Continue to Provide Coverage for Cyberliability Claims

A federal U.S. Court of Appeals has confirmed that comprehensive general liability (CGL) and other traditional policies may yet be a source of liability insurance coverage for cyberliabilities. Although a dedicated...more

Hanging Around: Fourth Circuit Confirms the Coverage for Data Breach Can Still Be Found in Traditional Liability Policies

With today’s increased focus on data breaches and related cyber liability exposure, the insurance market continues to develop policies tailored to this unique risk. Insurers are also excluding cyber risks in many traditional...more

Fourth Circuit Expands Cyber Coverage under Commercial General Liability Policies

The United States Court of Appeals for the Fourth Circuit recently affirmed a decision by the United States District Court for the Eastern District of Virginia, Alexandria Division (District Court), finding that Travelers...more

Court Upholds Coverage Under General Liability Policy for Claim Alleging Failure to Protect Data

In an encouraging development for insureds, the United States Court of Appeals for the Fourth Circuit held that a health care company’s general liability insurer was required to defend the company against claims stemming from...more

House Homeland Security Committee Holds Cyber Insurance Hearing

On March 22, 2016, the Cybersecurity, Infrastructure Protection, and Security Technologies Subcommittee of the House Homeland Security Committee held a hearing entitled “The Role of Cyber Insurance in Risk Management.”...more

Is Cyberinsurance the Chicken or the Egg?

The insurance industry has been making the case to Congress that cyberinsurance can be a path to good security practices, encouraging different groups inside an organization to better communicate with one another. The process...more

House Subcommittee Examines the Role of Cyber Insurance

On March 22, the House Homeland Security Committee’s Subcommittee on Cybersecurity, Infrastructure Protection, and Security Technologies held a hearing on The Role of Cyber Insurance in Risk Management. The witnesses were...more

Credit Card Data Breaches: Protecting Your Company from the Hidden Surprises

Part I: Assessing the Risk to a Retailer from a Credit Card Data Breach - Debit and credit cards are now the primary form of retail payment. One source estimates that 60% of all retail transactions involve a payment card...more

Insurance Coverage and the Telephone Consumer Protection Act

The past several years have seen an explosion in class action cases brought under the Telephone Consumer Protection Act (“TCPA”), 47 U.S.C 227. The TCPA generally restricts telemarketing phone calls and the use of automated...more

A Closer Look at Cybersecurity Legislation and Regulations in the US and Abroad - United States

Legal Framework - Summarise the main statutes and regulations that promote cybersecurity. Does your jurisdiction have dedicated cybersecurity laws? The United States generally addresses cybersecurity...more

A Common Standard for Evaluating Cyber Risk – Insurers Walk the Walk

Insurers have struggled to find a common baseline to measure cyber risks. Changes in technology, hacking and other data security risks and the shifting legal landscape concerning liability for data breaches have made the...more

An Overview of Cybersecurity Issues Affecting Retirement Plans

Retirement plan sponsors face ever-evolving cyber-related threats to plan assets and participant personal information. To combat such threats, plan sponsors should proactively assess the third-party service providers’ ability...more

5 Insurance Tips for Emerging Companies

When a new company moves to secure funding and formalize operations, insurance is often an afterthought. But with a bit of effort, emerging companies can obtain strong insurance protection, maximize their existing coverage,...more

Is cybersecurity insurance a fad? Or, what do I need to know?

Let’s get to the bottom line. Cybersecurity insurance is neither a fad, nor an issue for e-commerce platforms only. Instead, for most retail organizations, cybersecurity insurance will be an important part of the retail...more

Perspective: What Will Be the Defining Cybersecurity Issues In 2016?

As data breaches and their related obligations and liability risks continue to pile up with every passing year, we asked attorneys writing on JD Supra to answer the question: What will be among the defining issues for...more

Protect Your Wine Business Against Data Security Breaches and Other Cyber Risks

When asked who should buy cyber insurance, one expert responded, “more companies than realize it.” The truth is, almost every company in the country collects its customers’ or its employees’ Personally Identifiable...more

Systemic Cyber Risks And The Internet of Things

Companies’ awareness of “cyber” risks has increased significantly because of large and highly publicized data security breaches, such as Target and Home Depot. Companies are starting to more proactively manage the risk of...more

6 Questions PE Sponsors Must Ask About Their GPL Policies

Private equity fund sponsors are facing increased litigation risk from regulators and private parties, including limited partners and stakeholders in portfolio companies. As a result, private equity firms should re-examine...more

Make Your Insurance Policies List and Check It Twice

As the holidays rapidly approach, it is a perfect time for retailers to review their insurance policies and understand the extent of their coverage. Seasonal hires, new products and revisions in services may expose retailers...more

Coverage for Business Interruption in Cyber Occurrences

Among the most critical cyber risks facing policyholders is the risk of business interruption in the event of a network breach or other cyber event. In our experience, the costs related to business interruption potentially...more

7 Tips for Conducting Effective Cybersecurity Due Diligence in M&A Transactions

1. Start Early - Buyers should begin conducting cybersecurity risk assessments early in the engagement process. The target should be able to identify which information technology systems and data sets are key to the...more

Cybersecurity and Risk Management: “Navigating the Digital Age: The Definitive Cybersecurity Guide for Directors and Officers”

A timely new resource for business executives, technology professionals, and lawyers alike is the newly-published Navigating the Digital Age: The Definitive Cybersecurity Guide for Directors and Officers from the New York...more

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