News & Analysis as of

Cyber Attacks Policy Terms Data Breach

Zelle  LLP

Home Depot Ruling Tolls Death Knell For 'Silent Cyber'

Zelle LLP on

A Jan. 13 decision out of the U.S. Court of Appeals for the Sixth Circuit is one more nail in the coffin of "silent cyber." In Home Depot Inc. v. Steadfast Insurance Co., the federal appellate court agreed with the lower...more

Zelle  LLP

Further Clarity Regarding Coverage for Funds Transfer Fraud

Zelle LLP on

At this point, your IT department has almost certainly warned you to approach your e-mail inbox with skepticism--for good reason. Cybercriminals regularly and effectively impersonate our legitimate contacts for illegitimate...more

Woodruff Sawyer

Does Cyber Insurance Pay Out?

Woodruff Sawyer on

Over the last decade, one of the most common gripes I’ve heard about cyber insurance is that policies “don’t pay out.” Cyber coverage is often perceived as being illusory and riddled with “gotcha” clauses. This isn’t the...more

Woodruff Sawyer

The Voluntary Parting Exclusion: What You Need to Know

Woodruff Sawyer on

The US Internet Crime Complaint Center (IC3) received more than 880,000 cybercrime complaints in 2023. Overall financial losses from cybercrime last year reached $12.5 billion, a record-setting year-over-year increase of...more

Robinson+Cole Data Privacy + Security Insider

Insurer Denies Coverage Under Professional Liability Policy for Lawyer’s Email Compromise

Insurance coverage for cyberattacks can be tricky for anyone to navigate, including lawyers. To illustrate this point, a case in New Jersey caught my eye that I thought would be an interesting read for our followers who are...more

Ervin Cohen & Jessup LLP

Email Scam Losses May Find Recourse Via Cyber Or Business Interruption Coverage

Losses arising from email scams are usually covered, if at all, under a company’s crime policy. But a recent decision from The District Court in Minnesota suggests that recourse may also be found under an insured’s cyber or...more

Bilzin Sumberg

Cyber Insurance Policies May Not Cover Phishing Attack Funds Diversion

Bilzin Sumberg on

The Eleventh Circuit Court of Appeals is considering an appeal from the United States District Court for the Middle District of Florida , in which the District Court ruled that a cyber insurance policy did not cover diversion...more

Bilzin Sumberg

New Jersey Court Rules “Acts of War” Insurance Policy Exclusion Inapplicable to Russian Malware Attack

Bilzin Sumberg on

Pharmaceutical giant Merck won a major victory over its insurance carrier in New Jersey Superior Court recently. Merck’s victory means its carrier is liable to pay out up $1.4 billion to Merck for alleged losses arising out...more

Woodruff Sawyer

Ransomware Attacks Continue to Cause More Underwriter Scrutiny

Woodruff Sawyer on

Continued widespread cyber attacks have leaders in just about every industry wary and watchful, and insurance underwriters are no exception. Given the increase in claims from recent ransomware attacks, cyber insurers are...more

Bilzin Sumberg

Cyber Insurance Carriers, Increasingly Targeted by Hackers, Impose New Coverage Conditions

Bilzin Sumberg on

Insurers that offer coverage for cyberattacks find themselves playing both offense and defense lately. As they await possible action by Congress to enact federal cybersecurity legislation, the insurance industry has gone on...more

Robinson+Cole Data Privacy + Security Insider

Court Finds That Insurer’s Quote Implied Coverage for Computer Hacking Losses

In an interesting case from Indiana, a court recently ruled that language in the insurer’s “quotes” for coverage in a crime policy led the insured to believe that losses for computer hacking would be covered under the policy...more

Farella Braun + Martel LLP

Keeping Up With the Risks and Protections of Cyber Insurance

An obscure niche product less than a decade ago, cyber insurance is now a staple of many companies’ risk transfer programs. Its rise in prominence is no wonder. High-profile data breaches have caused businesses millions of...more

Skadden, Arps, Slate, Meagher & Flom LLP

Privacy & Cybersecurity Update - August 2018

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

Polsinelli

Cyber Security Insurance: Nine Questions to Ask to Determine Your Exposure

Polsinelli on

There is an increased interest in cyber security insurance for businesses amid frequent news of computer hacking, network intrusions, data theft, and high-profile ransomware attacks. Originally published in Houston...more

Carlton Fields

CGL Policies And Data Breaches: No Publication, No Coverage

Carlton Fields on

As cyber hacking and phishing schemes become more common, one issue that is often raised is whether, and to what extent, damages resulting from these incidents fall within the coverage afforded under a standard commercial...more

Hogan Lovells

Cyber Insurance: Managing Your Cyber Liability and Avoiding Coverage Gaps

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Mark Goodman is a partner in our San Francisco office. In this hoganlovells.com interview, he addresses the need for companies to manage their cyber risk and the role that insurance plays in an organization’s overall risk...more

Butler Snow LLP

Cyber Insurance Primer

Butler Snow LLP on

The number of reported U.S. data breaches tracked through June 30, 2017 hit a half-year record high of 791. This represents a significant jump of 29% over 2016 figures during the same time period. At this pace, it is...more

Nossaman LLP

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

Nossaman LLP on

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

Bennett Jones LLP

Five Pitfalls of Cybersecurity Insurance: Lessons from the United States

Bennett Jones LLP on

Given the increasing threat of cyberattacks and the corresponding costs, businesses are increasingly considering cybersecurity insurance. But insurance is only as effective as the scope of the coverage. Though Canadian...more

Lowndes

6 Things to Know About Cyber Liability Insurance

Lowndes on

Are you covered? Here are 6 things to know about cyber liability insurance (also known as data breach insurance): Coverage is still evolving. Over 60 insurance companies – maybe more – offered such a policy; however,...more

Orrick, Herrington & Sutcliffe LLP

Does Your Insurance Cover Phishing Attacks and Business Email Compromise? The Uncertainty Continues…

The coverage landscape for “Business E-mail Compromise” (BEC) scams remains somewhat tenuous, as organizations and carriers continue to battle in court over the extent of coverage. Although recent positive,...more

Carlton Fields

Cybersecurity Awareness Month: Visits From the Ghosts of Claims Past and Claims Future

Carlton Fields on

Cybersecurity awareness month is nigh upon us again, and thus perspective is in order. 2016 brought us the first collection and analysis of the nascent claims history of the burgeoning cyber-insurance market. On August 27,...more

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