News & Analysis as of

Cyber Insurance Cyber Crimes

Eversheds Sutherland (US) LLP

US Treasury Department announces initiatives for further study of a federal insurance backstop for catastrophic cyber events

On November 17, 2023, the United States Treasury Department’s Federal Insurance Office (FIO) and the Volatility and Risk Institute at the NYU Stern School of Business jointly hosted a conference on Catastrophic Cyber Risk and...more

BakerHostetler

DSIR Deeper Dive: 2023 Crypto Threat Landscape

BakerHostetler on

Following one of the most turbulent years in crypto history, 2023, in contrast, unfolded as a year of reprieve, including from crypto threats. According to a July 12, 2023, report from blockchain analytics firm Chainalysis,...more

Foley & Lardner LLP

Recommendations for Managing Cybersecurity Threats in the Manufacturing Sector

Foley & Lardner LLP on

In the hyper-connected era of smart manufacturing, accelerated by “Industry 4.0,” the manufacturing sector is undergoing a digital revolution. By leveraging technologies such as advanced automation, artificial intelligence,...more

Ervin Cohen & Jessup LLP

Insure Against Data Breaches Suffered By Vendors and Service Providers

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

Butler Snow LLP

Cybersecurity: What Businesses Need to Know

Butler Snow LLP on

Cybersecurity is a top concern for all industries, particularly for the pharmaceutical and medical device industries. These industries hold some of the most sensitive data and highly valuable technology, making them prime...more

Latham & Watkins LLP

Cyber Security Incidents als Herausforderung für die Rechtsabteilung - wichtigste Punkte, die Unternehmensjuristen über die...

Latham & Watkins LLP on

Hackerangriffe, Datendiebstahl, Ransomware, Datenpannen und sonstige Cybersecurity Incidents werden immer mehr zu einem zentralen Unternehmensrisiko. Dabei wird oft übersehen, dass dieses Thema nicht nur in technischer,...more

Dorsey & Whitney LLP

Recent Trends in Wire Fraud Scams: Uncovering and Tackling the Latest Tactics in Hong Kong

Dorsey & Whitney LLP on

Wire fraud threats have been on the rise in recent years, with Hong Kong becoming a particularly attractive destination for fraudsters due to its status as a global financial hub. Criminals are using increasingly...more

Pillsbury - Policyholder Pulse blog

The Dangers of Dialogue: Ransomware Attackers Want to See Your Cyber Insurance Policy

Amidst the recent surge in ransomware attacks on U.S. businesses—with crypto criminals and sometimes State actors invading and encrypting computer and operating systems and extorting funds in exchange for the decryption...more

Ankura

The Cybersecurity Insurance Market: What to Expect in 2023

Ankura on

In recent years, especially through 2019 and 2020, the cyber insurance market in the U.S. has seen significant growth. Middle-market companies have been actively requesting cyber insurance policies with low rates and broad...more

Jones Day

French Law Authorizes Insurability of "Cyber-Ransoms" Paid by Victims, Subject to Prompt Filing of Complaint

Jones Day on

France's Orientation and Programming Law of the Ministry of the Interior ("LOMPI law"), published in the Official Journal of January 25, 2023, amends the insurance coverage of losses and damages paid in response to...more

Kohrman Jackson & Krantz LLP

Why are Company Ransomware Payments Dropping Dramatically?

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

Saul Ewing LLP

Cybersecurity Threats Facing Food and Agribusiness Companies & the Preparation and Protection Safeguards to Help Mitigate Them

Saul Ewing LLP on

In this episode of "Don't Miss a Beet," host Kermit Nash, co-chair of Saul Ewing’s Food, Beverage and Agribusiness (FBA) Practice, speaks with colleague Sandy Bilus, co-chair of the firm’s Cybersecurity and Privacy Practice,...more

Bond Schoeneck & King PLLC

Cybersecurity Awareness Month – Understanding the Complexities of Cyber Insurance Coverage

Many traditional liability insurance policies have exclusions for cyber-related risks and stand-alone cyber insurance policies are the norm to cover cyber liabilities. Still, cyber insurance policies are not standardized to...more

Bradley Arant Boult Cummings LLP

Cybersecurity Basics Are Key to Combating Ransomware

The onslaught of ransomware attacks by cybercriminals increases unabated every year, affecting everyone from mom and pop shops on Main Street to corporate lions of Wall Street. Hackers infiltrate an organization's computer...more

EDRM - Electronic Discovery Reference Model

What the Heck is Going on with Legal Industry Data Breaches

With Memorial Day weekend behind us, many people are celebrating the unofficial start of summer. And summer is almost always a blessing—nicer weather, beach vacations, shorter Fridays (if you’re lucky)—you’ve got to think...more

J.S. Held

How to Avoid the Most Common Causes of Cybersecurity Incidents

J.S. Held on

Cybercrime is at an all-time high, with just the cybercrime insurance industry alone expecting to grow from $8 billion globally in 2020 to $20 billion by 2025.1 Although cyber liability insurance policies now exist to help...more

Jackson Lewis P.C.

Construction Industry: Data Security Considerations

Jackson Lewis P.C. on

No industry is immune to privacy and cybersecurity risks, and the construction industry is no exception. Those in the construction industry can protect against a potential cyberattack by understanding the risks and...more

Eversheds Sutherland (US) LLP

Merck and International Indemnity v ACE (et al.): war exclusion clauses in an age of cyber warfare

Companies should be aware that, as a result of increasing geopolitical instability, there is a heightened risk of cyber-attacks. Particularly in light of the Merck case, they should therefore consider closely examining the...more

Hinshaw & Culbertson - Insights for Insurers

Part Five: Reviewing Key U.S. Insurance Decisions, Trends, & Developments

Cyber Security And Privacy Insurance Claims - This is the fifth installment of our series of articles reviewing some of the key trends and developments currently impacting the U.S. insurance industry. To date, the vast...more

J.S. Held

What Is Digital Forensics: Applications, Processes, and Real-World Scenarios

J.S. Held on

This paper will cover the application of digital forensics, the types of data digital forensics experts work with, the investigation process, and some example scenarios wherein digital forensics experts are called to help...more

Lasher Holzapfel Sperry & Ebberson PLLC

The Price set on Ransomware – Avoiding the Cyber Sucker Punch

Most businesses today understand that the internet can be a dangerous place. As an organization grows beyond the very early stage of one or two employees and a few thousand dollars in sales, the cyber strategy of “security by...more

Cooley LLP

Ninth Circuit’s Fraudulent Payments Coverage Ruling Has Implications for Cyber Insurance Purchasers

Cooley LLP on

In a decision with significant implications for policyholders seeking coverage for social engineering scams and cybercrime losses, the US Court of Appeals for the Ninth Circuit held in Ernst and Haas Management Company, Inc....more

Lowenstein Sandler LLP

In the Know: The Lowenstein Insurance Recovery Group’s Tip of the Month - January 2022

Lowenstein Sandler LLP on

Cyber Insurance: Policyholder Obligations After the Claim Is Paid - Policyholders and, in turn, cyber insurers have been facing more frequent ransomware attacks. As a result, cyber insurers may try to recoup losses they...more

Levenfeld Pearlstein, LLC

FBI Warns of Heightened Ransomware and Cybersecurity Risks During M&A Transactions and Over the Holidays

Federal agencies are warning businesses and consumers of heightened ransomware risks. On November 1, 2021, the FBI issued a Private Industry Notification, warning businesses that ransomware actors are using significant...more

Lowenstein Sandler LLP

Ransomware Case Signifies Shift In Cyber Insurers' Stance

Lowenstein Sandler LLP on

Ransomware attacks are on the rise. Lax security measures, which have become more acute in the work-from-home environment, continue to be exploited. Companies' systems are hacked into, their data is encrypted, and they face...more

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