A consistent pattern emerges in data breach and cyber-attack cases when companies turn to their insurers for coverage after such incidents. Whether they possess specialized cyber insurance or not, insurers often decline...more
7/31/2023
/ Business Losses ,
Cyber Attacks ,
Cyber Insurance ,
Damages ,
Data Breach ,
Denial of Insurance Coverage ,
Employee Misconduct ,
Fraud ,
Insurance Claims ,
Medical Billing Codes ,
Personally Identifiable Information ,
Popular ,
Ransomware
Lehigh Valley Health Network (LVHN) is a healthcare network based in Allentown, Pennsylvania, and serves eastern and northeastern Pennsylvania. On Feb. 6th of this year, LVHN was hit with a combination ransomware and...more
The rise of cyberattacks has led to a significant increase in the demand for cyber insurance policies. However, the insurance industry is struggling to keep pace with the ever-evolving threat landscape, which has resulted in...more
Companies are increasingly choosing not to pay ransom for ransomware and extortionware due to the growing associated risks. In fact, a recent report by crypto-crime analyst firm Chainalysis found that payments to threat...more
2/2/2023
/ Anti-Money Laundering ,
Audits ,
Cryptocurrency ,
Cyber Attacks ,
Cyber Crimes ,
Cyber Insurance ,
Cybersecurity ,
Know Your Customers ,
Office of Foreign Assets Control (OFAC) ,
Popular ,
Ransomware ,
Russia ,
SDN List ,
Securities and Exchange Commission (SEC) ,
Ukraine
Ransomware insurance coverage has become increasingly popular in recent years as the threat of ransomware attacks has continued to grow. However, despite the widespread adoption of this type of insurance, there are still...more
12/29/2022
/ Casualty Insurance ,
Coronavirus/COVID-19 ,
Damages ,
Data Breach ,
Federal Trade Commission (FTC) ,
Fraud ,
Hackers ,
Insurance Industry ,
Liability Insurance ,
OH Supreme Court ,
Popular ,
Ransomware ,
Software ,
Theft ,
Vulnerability Assessments
Despite your best efforts, you have been hit by ransomware. You are locked out of your system, and you can provide no services to your customers, clients or patients. From a business perspective, you need to get your system...more
8/19/2022
/ Cyber Attacks ,
Cyber Crimes ,
Cybersecurity ,
Data Breach ,
FinCEN ,
Force Majeure Clause ,
Hackers ,
NIST ,
Office of Foreign Assets Control (OFAC) ,
Popular ,
Ransomware