The war exclusion has received a lot of attention over the past year, particularly since Russia invaded Ukraine in February. Policyholders’ concern that insurers will assert the exclusion as a basis to deny coverage is...more
7/15/2022
/ Casualty Insurance ,
Cyber Attacks ,
Cyber Insurance ,
Denial of Insurance Coverage ,
Insurance Claims ,
Insurance Industry ,
Insurance Litigation ,
Policy Exclusions ,
Policy Terms ,
Property Insurance ,
Ransomware
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
3/15/2022
/ Contract Interpretation ,
Cyber Attacks ,
Cyber Insurance ,
Cybersecurity ,
Denial of Insurance Coverage ,
Insurance Claims ,
Insurance Industry ,
Insurance Litigation ,
Malware ,
Policy Exclusions ,
Property Insurance ,
Ransomware
Cyber attacks are now commonplace. Ransomware attacks, in particular, have skyrocketed in frequency and size. High-profile data breaches have cost businesses in the United States millions of dollars in losses and incalculable...more
9/9/2021
/ Cannabis-Related Businesses (CRBs) ,
Cyber Attacks ,
Cyber Insurance ,
Cybersecurity ,
Data Breach ,
Data Privacy ,
Data Protection ,
Data Security ,
Property Damage ,
Ransomware ,
Reputational Injury ,
Retailers ,
Risk Mitigation
Cannabis businesses have cyber security and privacy risks. While the risks are varied, many arise from the businesses’ holding of highly sensitive consumer information or confidential data about business partners. Cannabis...more
5/19/2021
/ Cannabis-Related Businesses (CRBs) ,
Confidential Information ,
Continuing Legal Education ,
Contract Negotiations ,
Contract Terms ,
Cyber Insurance ,
Cybersecurity ,
Data Privacy ,
Data Security ,
Insurance Brokers ,
Insurance Contracts ,
Insurance Industry ,
Popular ,
Privacy Laws ,
Webinars
Now that the CCPA is in effect, some companies will need to revise their policies.
The cyber insurance markets are beginning to adapt to the new California Consumer Privacy Act (CCPA) which went into effect on January...more
2/25/2020
/ California Consumer Privacy Act (CCPA) ,
Commercial General Liability Policies ,
Consumer Privacy Rights ,
Cyber Insurance ,
Cybersecurity ,
Data Breach ,
Data Collection ,
Data Privacy ,
Data Protection ,
Data Security ,
Denial of Insurance Coverage ,
Insurance Claims ,
Insurance Industry ,
Personally Identifiable Information ,
Policy Exclusions ,
Popular ,
Privacy Laws ,
Risk Assessment
In November, Tyler wrote about insurance issues raised by both the European Union’s General Data Protection Regulation (GDPR) and the California Consumer Privacy Act, which goes into effect on January 1, 2020. California’s...more
1/7/2019
/ Bodily Injury ,
California Consumer Privacy Act (CCPA) ,
Commercial General Liability Policies ,
Connected Cars ,
Connected Items ,
Cyber Attacks ,
Cyber Insurance ,
Data Security ,
Denial of Insurance Coverage ,
Denial of Service Attacks ,
Errors and Omissions Policy ,
General Data Protection Regulation (GDPR) ,
Governor Brown ,
Hardware ,
Insurance Brokers ,
Internet of Things ,
Internet Service Providers (ISPs) ,
Manufacturers ,
New Legislation ,
Personally Identifiable Information ,
Popular ,
Property Damage ,
Retailers ,
Risk Mitigation ,
Software ,
Technology Sector
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
11/7/2018
/ Business Interruption ,
California Consumer Privacy Act (CCPA) ,
Choice-of-Law ,
Civil Monetary Penalty ,
Contract Negotiations ,
Cyber Attacks ,
Cyber Insurance ,
Data Breach ,
General Data Protection Regulation (GDPR) ,
Policy Terms ,
Risk Management
A federal district court in Florida has ruled that a claim against a policyholder arising out of a hacker’s theft of confidential credit card information was not covered under a commercial general liability (CGL) policy. St....more
10/2/2018
/ Commercial General Liability Policies ,
Corporate Counsel ,
Credit Cards ,
Customer Information ,
Cyber Insurance ,
Data Breach ,
Denial of Insurance Coverage ,
Hackers ,
Negligence ,
Policy Terms ,
Publication Requirement
In the internet of things (IoT), new opportunities for efficiency continually bring new cyber risk. If a device in your winery or vineyard connects to the internet, it is vulnerable. And so is the rest of the system connected...more
5/2/2017
/ Business Interruption ,
Credit Cards ,
Cyber Attacks ,
Cyber Insurance ,
Cyber Threats ,
Internet of Things ,
PCI-DSS Standard ,
Popular ,
Ransomware ,
Wine & Alcohol ,
Wineries
Business interruption coverage is now a staple of many companies’ insurance programs. One of the “optional” first-party property coverages included in standard property policies, it is intended to compensate companies for...more
The Internet of Things gives rise to many risks and exposures that companies and their insurers were not thinking about as recently as a couple years ago, and probably aren’t fully cognizant of today....more
10/26/2016
/ Commercial Insurance Policies ,
Cyber Attacks ,
Cyber Insurance ,
Cybersecurity ,
Data Protection ,
Internet ,
Internet of Things ,
Passwords ,
Product Recalls ,
Risk Management ,
Software
In the December post Systemic Cyber Risks And The Internet of Things, we wrote about the increasing risk of cyber attacks on infrastructure and consumer products, and related insurance issues. We noted in that post that,...more
4/6/2016
/ Cyber Attacks ,
Cyber Insurance ,
Cybersecurity ,
Drones ,
Electricity ,
Infrastructure ,
Internet of Things ,
Popular ,
Power Grid ,
Risk Assessment ,
Terrorist Threats
When asked who should buy cyber insurance, one expert responded, “more companies than realize it.” The truth is, almost every company in the country collects its customers’ or its employees’ Personally Identifiable...more
Companies’ awareness of “cyber” risks has increased significantly because of large and highly publicized data security breaches, such as Target and Home Depot. Companies are starting to more proactively manage the risk of...more
While much of the discussion around cybersecurity tends to focus on critical information sectors, national security, and the concerns of global corporations, data breaches can be just as devastating for small and medium-sized...more