News & Analysis as of

Business Losses Insurance Claims Cyber Attacks

Zelle  LLP

Fifth Circuit Holding Addresses Scope of BI Coverage Under Cyber Policy

Zelle LLP on

The Fifth Circuit added to the emerging body of case law addressing the recovery of business income losses in the cyber insurance coverage context to kick-start 2024 in Southwest Airlines Company v. Liberty Insurance. ...more

Robins Kaplan LLP

Crack the Code: Evaluating Cyber Claim Exposure

Robins Kaplan LLP on

Small businesses account for 99.9 percent “of all American businesses,” with more than 33.1 million small businesses employing a staggering 61.7 million Americans. There is nothing “small” about their import to the economy or...more

Esquire Deposition Solutions, LLC

Stemming Losses That Go Uncovered by Cyber Insurance

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

Kohrman Jackson & Krantz LLP

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

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

Ervin Cohen & Jessup LLP

Companies That Pay Hackers May Be Able to Recoup Their Losses

Where companies are victimized by ransomware or email scams, their losses arise from payments made by an officer or employee of the company. In the case of ransomware, a company’s files are held hostage pending payment...more

Bilzin Sumberg

New Jersey Court Rules “Acts of War” Insurance Policy Exclusion Inapplicable to Russian Malware Attack

Bilzin Sumberg on

Pharmaceutical giant Merck won a major victory over its insurance carrier in New Jersey Superior Court recently. Merck’s victory means its carrier is liable to pay out up $1.4 billion to Merck for alleged losses arising out...more

Lowenstein Sandler LLP

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

Lowenstein Sandler LLP on

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

Zelle  LLP

COVID Rulings May Support Ransomware Insurance Denials

Zelle LLP on

Ransomware attacks were already on the rise prior to the COVID-19 pandemic, but the prevalence of such cyberattacks substantially increased during the pandemic due, in part, to additional security risks associated with the...more

Robins Kaplan LLP

Ransomware Attack Results In Covered Physical Loss Or Damage

Robins Kaplan LLP on

A Maryland Federal Court Examines A Coverage Dispute Regarding Whether An Insured Had Experienced A Covered Loss To Its Computer System Following A Ransomware Attack. ...more

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