News & Analysis as of May 19, 2025

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Follow this channel for advisories on one of the biggest threats to businesses today. Read a morning brief of fresh guidance and commentary by leading lawyers on security, privacy, risk... more +

Follow this channel for advisories on one of the biggest threats to businesses today. Read a morning brief of fresh guidance and commentary by leading lawyers on security, privacy, risk management, global regulations, data protection, leaks, hacking, cyber insurance, compliance, HIPAA, and every other aspect of cybersecurity of import to corporate readers right now. less -

Cyber Risks and Insurance 2025 Forecast

Wiley Rein LLP on 12/20/2024

As we prepare to close the books on another eventful year in the cyber and privacy space, Wiley’s cyber insurance team is already making predictions for 2025. Q: So, let’s get right into it – based on your experience this...more

CrowdStrike IT Outage: Wave of Business Interruption Claims Expected

K&L Gates LLP on 7/30/2024

Businesses, public services, and computer users across the world faced disruption as a result of the major CrowdStrike information technology (IT) outage, which is being coined by many as one of the largest and worst cyber...more

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

Ervin Cohen & Jessup LLP on 1/27/2023

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

Does Your Cyber Insurance Policy Cover a Ransomware Attack?

Bradley Arant Boult Cummings LLP on 1/17/2023

Some policyholders mistakenly assume that all cyber insurance policies provide coverage for much the same type of losses. But unlike many other types of commercial insurance, cyber has not become standardized in the years...more

Emerging Middle Market Cyber-Attack Vectors: Are You at Risk?

Ankura on 11/11/2022

The concept of “security by obscurity” is officially outdated. In recent years, cyber-attacks have become increasingly sophisticated, destructive, and indiscriminate. In today’s landscape, cyber threats can come from internal...more

Mitigating Energy Sector Risks Through Cyberinsurance

Morgan Lewis on 3/16/2022

Energy companies in the power and oil and gas sectors are leading targets of cyberattacks, as threats to critical infrastructure systems continue to rise. A 2021 report by a third-party cyberrisk company found that a quarter...more

Does Your Cyber Insurance Policy Look More Like Health Insurance?

Jackson Lewis P.C. on 1/3/2022

Over the past several years, if your organization experienced a cyberattack, such as ransomware or a diversion of funds due to a business email compromise (BEC), and you had cyber insurance, you likely were very thankful....more

Ransomware Attacks Continue to Cause More Underwriter Scrutiny

Woodruff Sawyer on 12/6/2021

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

Riding the Wave of Cyber Insurance Claim Payments: A Trend Cresting or Crashing?

Lowenstein Sandler LLP on 10/19/2021

Ransomware attacks are on the rise. Cyber criminals continue to exploit lax security measures, which have become more acute in the work-from-home environment, and hack into companies’ systems, encrypt their data, and then...more

The Pandemic Lessons: The Future Of ESG And How It Will Define Business Success

Vinson & Elkins LLP on 9/25/2020

The rapidly increasing importance of a company’s environmental, social and governance (ESG) performance to its business value, has been a critical trend leading into 2020. This trend was accelerated by the COVID-19 pandemic,...more

Privacy & Cybersecurity Update - May 2020

Skadden, Arps, Slate, Meagher & Flom LLP on 6/1/2020

In this month's edition of our Privacy & Cybersecurity Update, we examine the Seventh Circuit's ruling finding standing for an Illinois Biometric Information Privacy Act claim, the European Data Protection Board's updated...more

Insurance Coverage for Cybercrimes in the Wake of COVID-19

Burr & Forman on 4/10/2020

Attorneys are well aware of the ways in which corporate clients are increasingly conducting their business and affairs electronically. A business may routinely place orders with trusted vendors via e-mail, rely on the...more

NYDFS Issues Order and Instructions to Regulated Entities in Response to COVID-19

Hinshaw & Culbertson - Consumer Crossroads on 3/21/2020

In response to challenges facing the financial services industry as a result of coronavirus (COVID-19), New York's Department of Financial Services (DFS) has issued a COVID-19 compliance order, along with a series of industry...more

Five Cybersecurity Practices to Minimize Risk During Coronavirus

Lowndes on 3/16/2020

As concerns about the coronavirus (COVID-19) continue to grow, many companies are planning to have more employees work from home. While these measures are aimed at keeping employees healthy and safe, it’s also important to...more

Employers Take Notice: Increased Cybersecurity Threats Amid Coronavirus Precautions

Hogan Lovells on 3/16/2020

On March 11, the Word Health Organization officially characterized the coronavirus (COVID-19) outbreak as a pandemic. During the outbreak, many employers around the world are seeking to prioritize the well-being and safety of...more

Ransomware Attack Replacement Costs Are Covered “Direct Physical Loss or Damage” Under Standard Business Owner’s Policy, According...

Carlton Fields on 3/6/2020

A Maryland federal court recently weighed in on the still-murky world of insurance coverage for cybersecurity losses, finding replacement costs necessitated by a ransomware attack were “direct physical loss or damage” to a...more

Coronavirus/COVID-19 Update

Skadden, Arps, Slate, Meagher & Flom LLP on 3/5/2020

As health organizations and governments around the world work to contain the coronavirus (COVID-19), businesses should be mindful of the various ways the virus may impact their operations and employees. The wide range of...more

FBI Warns of Sharp Increase in Ransomware Attacks in Certain Sectors

Robinson+Cole Data Privacy + Security Insider on 10/14/2019

The Federal Bureau of Investigations Internet Crime Complaint Center (IC3) recently issued a public service announcement warning private companies about the increasing numbers of ransomware attacks affecting private industry....more

Understanding cyber insurance risks of target companies

Bradley Arant Boult Cummings LLP on 1/29/2018

Due to the dramatic increase and changing nature of cyber risks, mergers and acquisitions due diligence should expand to address cyber risks, available risk mitigation practices, and available insurance. Acquiring companies...more

No More Tears: Insurance Coverage For The "WannaCry" Ransomware Attack

Jones Day on 5/30/2017

This month's WannaCry "ransomware" attack—the first truly global incident of its kind—is believed to have affected at least 300,000 computers in over 150 countries, claiming among its victims many large corporations and...more

Insurance Coverage for Lost Profits Arising from Cyber Attacks on the U.S. Power Grid – Contingent Business Interruption Coverage...

McGuireWoods LLP on 1/6/2017

The Washington Post reported Friday that Russian hackers had penetrated the U.S. utility grid through Burlington Electric, a Vermont utility. Although the utility later clarified that the attacked computer was not connected...more

Sizing Up Cyber Risks after the Sony Breach

Hinshaw & Culbertson LLP on 12/24/2014

Sony’s most recent data breach underscores the difficulties in underwriting and insuring cyber risk. Sony incurred losses that were surprising in both their scope and type. The company already is a defendant in at least four...more

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