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
A Mississippi federal district court became the latest to rule that Computer Fraud Transfer and Funds Transfer Fraud coverages were not applicable to losses resulting from an email phishing scam. In Miss. Silicon Holdings,...more
What You Need To Know: - Recent case law is trending favorably for policyholders to secure coverage for computer fraud claims under a wide array of insurance policies. - Because several types of policies may be...more
It is an all-too-common dilemma. As phishing schemes have become more prevalent and more sophisticated, businesses of all sizes have fallen victim to these attacks where a fraudster will use a spoofed email or other deceptive...more
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
In this month's edition of our Privacy & Cybersecurity Update, we examine Brazil's new data protection regulation, the French data protection authority's warning to two companies of potential GDPR violations and the U.S....more
In this month's edition of our Privacy & Cybersecurity Update, we examine California's new sweeping privacy law, two U.S. agencies' report on "botnet" threats and the European Parliament's call to suspend the Privacy Shield....more
On insurance coverage issues, sometimes the boat seems to be listing in the wrong direction. For example, insurers have long tilted the decks to avoid coverage for “spoofing” attacks and similar kinds of email fraud by...more
Scams from business compromise emails (BECs) have been labeled by the FBI as a “$5 billion” problem. Sometimes known as “CEO Fraud,” BECs are where an email, purportedly coming from a high-ranking company official or vendor,...more
In this month's edition of our Privacy & Cybersecurity Update, we examine the EU's General Data Protection Regulation going into effect despite some member states lacking in local necessary legislation, a pair of U.S. states'...more
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
In this month's edition of our Privacy & Cybersecurity Update, we discuss all 50 states now having data breach notification laws, state attorneys general and their opposition to a federal data breach notification law, the FBI...more
The “business compromise email” is what the FBI calls the “$5 billion scam,” but apparently an insurance company did not agree with an insured company that they had been the victim of a crime....more