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The SEC Gets Hacked: What Now?

It was recently revealed that the Securities and Exchange Commission’s (“SEC”) EDGAR database, which is used by public companies to file official documents, was breached. According to the SEC, trading off of that hacked...more

[Webinar] Cybersecurity Threats Facing Water Utilities and the Steps You Should Take to Mitigate Risk - October 12th, 10:00am PT

Join Nossaman attorneys for a webinar to discuss evolving cybersecurity threats facing water utilities. Cybersecurity is one of the top threats faced by all businesses in the United States, but water utilities sit in a...more

[Event] 2017 Cybersecurity Symposium - October 23rd, Los Angeles, CA

Nossaman LLP and University of California, Irvine School of Law invite you to join us for "Cybersecurity, Data Breach, and Privacy: A Real World Perspective on Prevention, Response and the Future." This complimentary...more

The Ninth Circuit Bars Wrongful Act Coverage Against TCPA Claims Despite Strong Dissenting Opinion that Majority Misconstrued the...

On August 23, 2017, in a split Opinion, the Ninth Circuit issued its ruling in Los Angeles Lakers, Inc. v. Federal Ins. Co., Case No. 15-55777 (9th Cir. Aug. 22, 2017), an insurance coverage dispute related to an underlying...more

Two Court Rulings Show Coverage Difficulties for “Fake President” Fraud

A few weeks back, the Insurance Recovery report posted a blog about the difficulty obtaining insurance coverage for “fake president” fraud, which is also known as business e-mail compromise, or social engineering fraud. Two...more

The Remedy for the New Cyber Threat Posing Major Coverage Problems: “Fake President” E-mails

In the last few weeks, we have seen yet another widespread ransomware attack that hit nearly one hundred companies around the world. It reminded me of a recent request from a client, made just after news broke of the...more

SEC Hints that Enforcement Actions on Lax Cybersecurity Might Be Coming

With the confirmation of Jay Clayton as the Chair of the Securities and Exchange Commission, comments made last month by the Acting Enforcement Director, Stephanie Avakian, regarding the importance of accurate reporting in...more

California Supreme Court Endorses the Insurance Commissioner’s Authority to Regulate Wayward Insurers

On Monday, the California Supreme Court revived a 2011 insurance regulation designed to protect homeowners from underinsurance because of the insurance company’s use of potentially misleading estimates for home replacement...more

New York Department of Financial Services Delays Compliance Deadline for Cybersecurity Regulations

On October 25, the Privacy Law Report featured a blog post on new cybersecurity regulations being implemented by the New York Department of Financial Services (“DFS”). Those regulations impose a number of requirements on...more

House Committee Warns Congress to Set Security Standards

Recently, members of the House Energy and Commerce Committee told Congress that they must set cyber security standards for all devices connected to the internet or else face the possibility of a major cyberattack that could...more

Beazley Report Details Increase in Ransomware Attacks

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

Bad Faith Actions for Excess Judgments….is There Trouble Brewing for Recalcitrant Primary Insurers

Can an excess carrier go ahead and fund an excess primary limits settlement and then assert a claim for bad faith against the primary insurer who previously refused to accept and fund a prior in-limits policy demand? On...more

Despite Adoption of EU-US Privacy Shield, Uncertainties Remain

You may recall our previous posts about the drafting and negotiation of the EU-US Privacy Shield, the law designed to implement a data sharing agreement that sets specific privacy standards for companies sharing information...more

SEC Fines Morgan Stanley for Data “Breach”

Last week, the SEC fined Morgan Stanley $1 million for two data security failures resulting in the exposure of personal information of 730,000 of its customers. Andrew Ceresney, the director of enforcement at the SEC stated,...more

Courts Continue to Grapple with Data Breach Claims

Our last few blogs have focused on litigation under the Video Privacy Protection Act, including the recent ruling from the 10th Circuit in Yershov v. Gannett Satellite Information Network, Inc., 2016 U.S. App. LEXIS 7791 (1st...more

Stick Up Your Hands! The Increasingly Common Form of Ransom, and the Insurance That Will Help You Recoup Some of Your Funds

It was recently revealed that the Hollywood Presbyterian Medical Center paid $17,000 in bitcoins as ransom to hackers who infiltrated and disabled its computer network. This is not the first time hackers have held up a...more

Fourth Circuit Finds Coverage for Information Breach under CGL Policy

For policyholders and attorneys that have feared the lack of coverage for data breaches under traditional policies (CGL, property), a recent ruling suggest that it is not time to write off those policies as a potential source...more

The Evolving World of Privacy and Data Security Covered at Nossaman-UCI Cyber Symposium

On October 12, Nossaman and UC Irvine hosted their first annual cyber symposium at the Los Angeles City Club. The event brought experts together to discuss a variety of critical issues in the worlds of privacy and data...more

[Event] Cybersecurity, Data Breach, and Privacy:A Dialogue on the Rising Risks and Evolving Legal Landscape - Oct. 12th, Los...

Nossaman LLP and University of California, Irvine School of Law invite you to join us for this complimentary half-day seminar on recent developments in the areas of cybersecurity, data breach, privacy, and their implications...more

Insurers Pay to Avoid a Precedent Finding CGL Coverage for a Cyberbreach – the Zurich v. Sony Settlement

It was reported today that the widely-watched data breach case, Zurich American Ins. Co., et al  v. Sony Corp. of America (N.Y. Sup. Ct. Feb. 21, 2014), has been settled before the New York appellate court could issue an...more

The Treasury Recommends Cyberinsurance For Banks

If you think you are being overly paranoid about the recent cyber attacks on Sony, JP Morgan, and Target, think again. You aren’t the only one that has been paying attention – hackers are also front-and-center on the minds...more

Are you Really Protected? The Proliferation of Data Breaches Highlight the Increasing Role Cyber Insurance will Play

Every day seems to bring a new story about a significant data breach. Just within the last few weeks we have learned of the following cyber attacks... ...more

Mind the Details: Make Sure your WRAP Coverage is Done Right

A client recently asked for advice about insuring their development project with a wrap insurance policy. As we talked through the pros and cons, I was reminded of the intricacies of wrap insurance products. Undoubtedly,...more

If Exposed to Cyber-Attacks, Cyberinsurance May Cover Losses

Your network is your company’s life blood. You want to be protected in the event your cybersecurity is breached; the attack on Target being a recent, well-publicized reminder to the threat of cyber attacks. ...more

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