Popular, Cyber Attacks, Cyber Insurance

Hackers Increasingly Leveraging Threats to Patients to Pressure Health Organizations to Pay Ransom

Health Care Compliance Association (HCCA) on 4/22/2024

Cyberhackers—potentially frustrated by their limited ability to extort ransom from health care entities in attacks—have started extorting the patients themselves, threatening them with the release of information or...more

The Impact of Merck’s NotPetya Policy Claims and a Reported Settlement

Bond Schoeneck & King PLLC on 1/25/2024

By definition, insurance policies represent an exercise in planning for (and hedging against) catastrophe. Cyber insurance for the healthcare industry is no exception. But any hedge is only as good as it’s reliable. Many...more

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

McGuireWoods LLP on 1/9/2024

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

Stemming Losses That Go Uncovered by Cyber Insurance

Esquire Deposition Solutions, LLC on 10/25/2023

Twenty years ago the federal government designated October as Cybersecurity Awareness Month, part of an early effort to promote a wider appreciation of computer-related threats to business and government operations and to...more

[Event] Data Breach Response Workshop – Staying Calm in Crisis - November 1st, Raleigh, NC

Womble Bond Dickinson on 10/12/2023

Join industry leaders and legal professionals as they step through a cyber incident response scenario and give real-time perspectives from the viewpoint of forensic investigation and mitigation, legal, cyber insurance, and...more

Importance of Protecting Employee Information as Privacy and Cybersecurity Laws Proliferate

Jackson Lewis P.C. on 10/3/2023

Most human resources professionals are concerned about the privacy and security of the vast amounts of personal information they manage. This article discusses steps to consider taking against the challenges. Deluge of...more

Exploring Cyber Insurance and its Intersection with Property Coverage

Woodruff Sawyer on 9/27/2023

There is no doubt that technology, the internet, and the exponential connectivity of all the things we use in our daily lives have created unprecedented efficiency, precision, and oversight for nearly every industry....more

Recommendations for Managing Cybersecurity Threats in the Manufacturing Sector

Foley & Lardner LLP on 9/25/2023

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

The MOVEit Hack, Ransomware Attacks, and Cyber Insurance

K&L Gates LLP on 9/14/2023

Ransomware attacks and cyber data theft are an unfortunate fact of life for businesses. Whether through attacks targeting individual companies or widespread campaigns carried out by exploiting vulnerabilities in third-party...more

Risky Business And Cyber Attacks… Simple Steps To Limit Liability Of Cybersecurity Service Providers

Dunlap Bennett & Ludwig PLLC on 8/11/2023

The consequences of a cyber attack can be significant and wide-ranging for both an individual and a business – no matter how big or small. Cyber attacks can result in serious data breaches that lead to the theft or exposure...more

Coverage Challenges in Ransomware Claims: Cyber Insurance Policies and Trends in Denials

Kohrman Jackson & Krantz LLP on 7/31/2023

A consistent pattern emerges in data breach and cyber-attack cases when companies turn to their insurers for coverage after such incidents. Whether they possess specialized cyber insurance or not, insurers often decline...more

Cyberattacks as Acts of War: Insurance Companies Forced to Rethink Their Policies

Kohrman Jackson & Krantz LLP on 5/5/2023

The rise of cyberattacks has led to a significant increase in the demand for cyber insurance policies. However, the insurance industry is struggling to keep pace with the ever-evolving threat landscape, which has resulted in...more

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

Pillsbury - Policyholder Pulse blog on 3/28/2023

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

The Cybersecurity Insurance Market: What to Expect in 2023

Ankura on 3/20/2023

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

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

Jones Day on 2/27/2023

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

Policyholders Beware – Lloyd’s is Adding New Exclusions to Limit Insurance Coverage for State-Sponsored Cyber Attacks Next Month –...

McGuireWoods LLP on 2/23/2023

Cyberattacks on corporate networks are on the rise, and the ramifications from such an attack can be financially devastating. Recent benchmarking data shows that the number of material cyber breaches at large businesses...more

Cyber risk strategy: State-backed cyber attacks and trends in cyber policies and risk management

Eversheds Sutherland (US) LLP on 2/2/2023

Lloyds Market Bulletin Y5381 - Back in March 2022, we detailed the significant risks to both insureds and insurers posed by unclear cyber insurance policy wordings, with a particular focus on war exclusion clauses in the...more

Why are Company Ransomware Payments Dropping Dramatically?

Kohrman Jackson & Krantz LLP on 2/2/2023

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

Four Ways to Protect Your Cyber Insurance in Today’s Challenging Market

Jones Day on 1/16/2023

In Short: The Situation: The cyber insurance market is experiencing a major retrenchment, with insurers seeking to limit their exposure in a variety of ways....more

Cybersecurity Insurance: Circuit Courts Weigh in on Insurers’ Liability for an Insured’s Losses Stemming from a Data Breach

Pietragallo Gordon Alfano Bosick & Raspanti,... on 11/8/2022

When a cybersecurity-related incident occurs, an insured should not automatically assume a standard commercial general liability (CGL) policy issued by an insurer will cover their losses, as CGL policies generally afford...more

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