News & Analysis as of

Cyber Insurance Hackers Phishing Scams

Ward and Smith, P.A.

Wire-Fraud, Data Breach, and Phishing: A Live Action Role Play for In House Counsel

Ward and Smith, P.A. on

At the recent In-House Counsel Seminar, three Ward and Smith attorneys presented a realistic role play response to an incidence of wire fraud, addressing red flags associated with fraudulent communications, corporate incident...more

Woodruff Sawyer

Scams and Viruses: Which Email Attachments Are Safe to Open?

Woodruff Sawyer on

Email scams and viruses are nothing new—threats like phishing emails and malware have been around since the days when services like AOL still dominated the internet and email landscape. However, while technology has made a...more

Woodruff Sawyer

Ransomware Attacks Continue to Cause More Underwriter Scrutiny

Woodruff Sawyer on

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

Womble Bond Dickinson

Hacking Is Changing: Should Our Data Security Change?

Womble Bond Dickinson on

In meetings with data security professionals, the same topic tends to arise: Why are we fighting the same security battles now that we fought 20 years ago? The history of network and cyber security seems to be a...more

Burr & Forman

Business Exposure to Internet Crime

Burr & Forman on

Each year, the Internet Crime Complaint Center (“IC3”) of the Federal Bureau of Investigation publishes its Internet Crime Report.  The IC3’s 2020 Internet Crime Report includes startling information about the continuing...more

Society of Corporate Compliance and Ethics...

Debra Geroux and Scott Wrobel on Responding to Data Breaches

When a data breach occurs, one step is often overlooked in the rush to remediate: preserving as much of the data logs and backups as possible That’s a mistake, say Debra Geroux, Shareholder at Butzel Long and Scott Wrobel,...more

Hinshaw & Culbertson - Insights for Insurers

Hacked Tech Company Not Entitled to Cyber Coverage for Debt Payment Wired by Client to Hackers' Bank Account

Alorica Inc., a technology services company, was the victim of an apparent phishing attack in October 2017. After gaining access to Alorica's email system, hackers created rules to prevent Alorica from seeing their...more

Robinson+Cole Data Privacy + Security Insider

Cyber Exposures Rise During Pandemic

Although it is logical that cyber attacks have risen during the pandemic, and there is anecdotal evidence that it is occurring, including our own experience, an interesting new report was recently released by Allianz, which...more

Lowenstein Sandler LLP

Health Care Facilities Are Under Cyberattack; Cyber Insurance Provides A Valuable Defense

Lowenstein Sandler LLP on

U.S. hospitals, already on the front lines of fighting the coronavirus pandemic, are now facing viral attacks by cybercriminals. More than 20 U.S. hospitals and health care organizations have reported their data being held...more

Neal, Gerber & Eisenberg LLP

Client Alert: High Profile Phishing Incident Demonstrates Continued Need for Social Engineering Insurance

Media outlets recently reported that Barbara Corcoran, one of the judges on the popular ABC show "Shark Tank," was the victim of a "spear phishing" scam....more

Zelle  LLP

Conflicts in Circuits’ Approach to Email Scams Hold Lessons

Zelle LLP on

With unprecedented activity online, cybercrime is growing in frequency, sophistication and aggregate effect. Despite the increased visibility of cybercrime, cybersecurity continues to lag behind this curve. Cybercriminals...more

Farella Braun + Martel LLP

Another Federal Circuit Finds Phishing Loss Covered Under Crime Policy

Companies of all sizes have fallen victim to attacks whereby fraudsters will use deceptive communications, such as spoofed emails, to trick an employee into transferring money into the fraudsters’ control. While these...more

Farella Braun + Martel LLP

Are Losses Resulting from Phishing Incidents Covered by Crime Policies Insuring Against Computer Fraud?

It is an all-too-common dilemma. As phishing schemes have become more prevalent and more sophisticated, businesses of all sizes have fallen victim to these attacks where a fraudster will use a spoofed email or other deceptive...more

Robinson+Cole Data Privacy + Security Insider

Phishing Continues to Be Seen as Biggest Cybersecurity Threat to Companies

According to a recent survey of cybersecurity professionals by AT&T Cybersecurity entitled “Confidence: the perception and reality of cybersecurity threats,” phishing and cloud security threats are keeping them up at night....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

Troutman Pepper

New Case May Signal Greater Likelihood That Insurers Are on the Hook for Coverage in Phishing Attacks

Troutman Pepper on

A new Sixth Circuit decision may signal an emerging trend on whether insurers must cover claims made by policyholders who fall victim to phishing scams....more

Pillsbury - Policyholder Pulse blog

Two New Federal Decisions Are Beacons for Policyholders Navigating Computer Fraud Claims for Spoofing Losses

On insurance coverage issues, sometimes the boat seems to be listing in the wrong direction. For example, insurers have long tilted the decks to avoid coverage for “spoofing” attacks and similar kinds of email fraud by...more

Perkins Coie

Give Your Customers the Gift of Security

Perkins Coie on

2017 has reminded us that data security threats continue to evolve and that the stakes for companies can be very high if their data security programs fail to evolve as well. Before the recent announcement of Equifax’s...more

Butler Weihmuller Katz Craig LLP

Ransomware is taking the world by storm; does insurance respond?

On June 27, 2017, the world had its second major ransomware attack in two months, and experts are predicting more to come. The first, named WannaCry, began May 12, and quickly spread to over 400,000 machines, the vast...more

Sheppard Mullin Richter & Hampton LLP

WannaCry Ransomware Alert

This is not a drill. Companies and law enforcement agencies around the world have been left scrambling after the world’s most prolific ransomware attack hit over 500,000 computers in 150 countries over a span of only 4...more

Orrick, Herrington & Sutcliffe LLP

Does Your Insurance Cover Phishing Attacks and Business Email Compromise? The Uncertainty Continues…

The coverage landscape for “Business E-mail Compromise” (BEC) scams remains somewhat tenuous, as organizations and carriers continue to battle in court over the extent of coverage. Although recent positive,...more

Foley & Lardner LLP

Most Frequently Hacked Industries Now Includes Manufacturing

Foley & Lardner LLP on

Second only to health care, the manufacturing industry is now one of the most frequently hacked industries (according to IBM’s 2016 Cyber Security Intelligence Index). And more importantly, automotive manufacturing was the...more

Carlton Fields

Phishing for Cybersecurity Coverage: When is a Fraud a “Computer Fraud”?

Carlton Fields on

In late June, the New York Court of Appeals affirmed a trial court ruling that there was no coverage for a health insurance company policyholder, under a “Computer Systems Fraud” rider issued by its insurer, for an underlying...more

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