Over the last several years several companies, including Marriott, Yahoo and Volkswagen, have been victimized by hackers breaking into a company’s computer network. In some cases, they have put confidential information on the...more
7/19/2023
/ Audits ,
Commercial General Liability Policies ,
Confidential Information ,
Contract Terms ,
Cyber Attacks ,
Cyber Crimes ,
Cyber Insurance ,
Cybersecurity ,
Data Breach ,
Hackers ,
Ransomware ,
Risk Mitigation ,
Service Contracts ,
Third-Party Service Provider ,
Vendors
A genuine looking email is sent to a company’s accounts payable department with instructions from its president to pay money to a certain account. The “To” and “From” headers and the signature block look identical to hundreds...more
Your CFO or accounts payable clerk receives a legitimate-looking email supposedly from the company’s president authorizing a wire transfer to a vendor or business partner. In reliance on that email, the company’s bank is...more
Consider the following two scenarios resulting in identical losses, but potentially two entirely different insurance coverage outcomes.
In the first instance, a thief hacks, or gains unauthorized entry, into an insured’s...more
Cyber insurance is designed to fill an enterprise's coverage gaps, where coverage under other forms of insurance may not be triggered by these kind of losses. At the same time, and because cyber insurance is a relatively new...more
There have been a number of high-profile insurance coverage cases arising from losses due to cyber fraud – especially data breaches, "spoofing'' and payment instruction fraud. While cyber insurance is specifically designed to...more