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Policy Exclusions Cyber Attacks Cybersecurity

Ward and Smith, P.A.

Cyber Liability Insurance: Is It Worth It?

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In connection with the increase in the number of incidents and attacks, the scope and impact of the incidents and attacks are also growing. With the rise in frequency and impact of cybersecurity incidents and cybercrimes,...more

Wiley Rein LLP

No Duty to Defend BIPA Lawsuit Given Absence of Data Breach or Security Failure

Wiley Rein LLP on

The Appellate Court of Illinois, First District, applying Illinois law, has held that a cyber policy did not afford coverage for an underlying lawsuit alleging violations of the Biometric Information Privacy Act (BIPA)...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

Keating Muething & Klekamp PLL

Benefits Monthly Minute - March 2024

The March Monthly Minute digs into an Ohio district court ruling that rejected application of a medical plan exclusion, missing participant guidance and related audit concerns, and responses to the Change Healthcare...more

McGuireWoods LLP

Merck-Settlement of $1.4 Billion Coverage Dispute Over NotPetya Cyberattack Places Renewed Spotlight on War Exclusions in 2024

McGuireWoods LLP on

Last week, Merck & Co. filed documents with the Supreme Court of New Jersey indicating that it reached a settlement with its “all risk” property insurers in a long-running coverage dispute involving over $1.4 billion in...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

K&L Gates LLP

HUB Talks: OnRisk: The Russia-Ukraine Conflict and Insurance for State-Sponsored Cyberattacks

K&L Gates LLP on

In this episode, partners Jeff Meagher and Lucas Tanglen, along with associate Reymond Yammine, discuss the Russia-Ukraine conflict and insurance for state-sponsored cyberattacks, including lessons learned from the NotPetya...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

Farella Braun + Martel LLP

The War Exclusion in a Time of War

The “war” exclusion has gotten more attention over the past couple of weeks in light of Russia’s invasion of Ukraine. For good reason. This exclusion, common in property and liability policies alike, typically eliminates...more

Morgan Lewis

Update: Ukraine Conflict Has Implications for Cyberinsurance Policies, Including War Exclusions

Morgan Lewis on

The conflict in Ukraine has raised significant cybersecurity concerns for businesses in the United States and across the world, resulting in an increased focus on using cyberinsurance to mitigate any resulting losses. The...more

Epiq

Cyberside Chats: There is a war in Europe. What does that mean for your cyber insurance policy?

Epiq on

Jerich Beason & Whitney McCollum speak on this Cyberside Chat to discuss the recent Merck & Co. cyber insurance win and how this impacts future wars fought with cyber weapons such as the conflict in Ukraine. This case sets a...more

Zelle  LLP

Reach Of Ohio Ransomware Ruling Limited To Policy At Hand

Zelle LLP on

We are still in the relatively early stages of jurisprudence addressing the insurability of loss stemming from data breaches. Compared to the more developed body of case law interpreting coverage provisions and exclusions...more

Jones Day

Federal Court Acknowledges Coverage for Ransomware Losses Under Traditional Property Insurance Policy - When responding to...

Jones Day on

In a significant victory for policyholders, the United States District Court for the District of Maryland recently determined that certain ransomware-related losses are covered under language commonly found in traditional...more

Hinshaw & Culbertson LLP

Insurers Take Steps to Reduce Silent Cyber Exposure

As cyber risks continue to proliferate, issues concerning coverage for those exposures under non-cyber or "traditional" property and casualty policies are creating uncertainty for both the insurance industry and for...more

Pillsbury - Policyholder Pulse blog

Cyber Coverage by any Other Name Can Smell as Sweet. Maryland Court Rules Traditional Property Policy Covers Loss of Data and...

Cyberattacks are an increasingly frequent and costly risk faced by almost every business today. While the availability and scope of cyber-specific insurance has developed exponentially over the past few years, it is important...more

Skadden, Arps, Slate, Meagher & Flom LLP

Privacy & Cybersecurity Update - November 2018

In this month's edition of our Privacy & Cybersecurity Update, we examine a declaration on ethical considerations for artificial intelligence, the annual joint review of the Privacy Shield, a new lawsuit from a snack food...more

K&L Gates LLP

OnRisk: Insurance for Cyber Risk in M&A Transactions - A HUB Talks Podcast

K&L Gates LLP on

Cyber due diligence is quickly becoming the “new normal” for buyers in M&A transactions as they seek to protect themselves against cyber risk. Cyber due diligence, however, is only part of the solution. Many sophisticated...more

Bradley Arant Boult Cummings LLP

Cyber Insurance: Court’s Recent Decisions May Change What Your Policy Covers

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

Steptoe & Johnson PLLC

First Look - Summer 2018: Insurance Newsletter

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Your company’s computer system has been compromised by a hacker. From your initial investigation, you discover that the hacker has accessed proprietary company information and customer information including Social Security...more

Fisher Phillips

Cyber Insurance: Get What You Pay For              

Fisher Phillips on

Due to the increasing number of successful and attempted cyber-attacks and increased government scrutiny surrounding protection of confidential information, companies cannot ignore the various risks associated with potential...more

Jones Day

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

Jones Day on

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

BCLP

Do you get Bragging Rights if the Malware Infecting your Computer was Named after Zeus?

BCLP on

Over the last decade as the specter of cyber attacks has increased dramatically, financial institutions have been encouraged to look into the use of cyber fraud insurance as one means of minimizing risk. A recent decision by...more

Bradley Arant Boult Cummings LLP

A Close Look at Policy Wording Is Essential to Ensure Coverage for Cyber Risks

As the demand for insurance coverage for cyber-related losses continues to grow, more insurance companies are offering cyber insurance policies and endorsements, but the market is far from mature and the available policies...more

Goodwin

2016: The Year of Cyber Insurance?

Goodwin on

It has been said that there are two types of companies in the world – those that have been hacked, and those that do not yet know they have been hacked. While perhaps an overstatement, it seems that every day, another company...more

JAMS

Responding to a Security Breach: Insurance

JAMS on

It is an otherwise normal day until you, the General Counsel, receive a call from the CIO: “We have a cyber-security breach. We’ve identified some unusual activity and it appears that data has been sent out through unknown...more

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