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Cyber Insurance Liability Insurance

Woodruff Sawyer

2024 Guide to Cyber Liability Insurance

Woodruff Sawyer on

Twenty-one percent (21%) of S&P 500 companies experienced breaches in 2023, according to a report by SecurityScorecard. IBM states the average cost of a data breach globally last year was $4.45 million—a 15% increase over the...more

K&L Gates LLP

Navigating the New Frontier: Insurance for Artificial Intelligence Risks

K&L Gates LLP on

On 27 December 2023, The New York Times filed a lawsuit against OpenAI and Microsoft alleging copyright infringement in connection with OpenAI’s popular ChatGPT technology. This lawsuit is part of the first wave of...more

Woodruff Sawyer

What is a Data Breach? (And How Vulnerable is Your Business?)

Woodruff Sawyer on

The landscape for preventing, responding to, and avoiding the fines and other costs associated with data breaches has changed in the last three years. Since the beginning of the pandemic, data breaches have been on the rise...more

Woodruff Sawyer

How a Cyber Attack Triggers Multiple Parts of a Cyber Security Insurance

Woodruff Sawyer on

Cyber liability insurance coverage is not a one-size-fits-all blanket policy that can be applied to all types of businesses. Every organization has choices as to what types of cyber liability coverage it needs to protect...more

Farella Braun + Martel LLP

Changes in the VCAP Liability Coverage Market

Over the past few years, there's been a dramatic rise in premiums in the venture capital liability insurance market and a steady increase in claims being submitted under those policies. We're also seeing a lot of discussion...more

Bressler, Amery & Ross, P.C.

The COVID-19 Pandemic Has Increased Both Risk and Costs Associated with Cyber Coverage

Introduction - The pandemic-induced work from home culture has opened the door to increased cybersecurity breaches. Although most businesses, especially those operating in regulated industries, have a prevention and response...more

Pillsbury - Policyholder Pulse blog

Insurance Considerations for Cannabis Delivery Services

The legal cannabis industry in the U.S. is growing at an unprecedented rate and is projected to reach $73.6 billion by 2027. While federal law still classifies marijuana as a Schedule I drug, many states have legalized both...more

Orrick, Herrington & Sutcliffe LLP

Using M&A Insurance on Tech Deals (Issue 1)

Since March 2020, over 80% of the deals McGill and Partners have advised on have been in the technology sector. Whether it is software as a service, enterprise risk management, fintech, or technology infrastructure, what is...more

Pillsbury Winthrop Shaw Pittman LLP

Insuring a Newly Remote Workforce Post-COVID-19: Coverage Considerations Under Cyber and Other Commercial Insurance Policies

Longer-term remote work impacts companies’ risk exposures and coverage under many insurance programs. Policy terms may no longer align with the “facts on the ground” of remote operations, which could lead to coverage gaps...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

Robins Kaplan LLP

Artificial Intelligence v. General Data Protection Regulation: Complex Risks in Changing Times

Robins Kaplan LLP on

Artificial Intelligence (“AI”) Is A Complicated Technology Developed With Data. This Saddles AI It With A Host Of Potential Privacy Regulations, Including Europe’s Data Protection Law, The General Data Protection Regulation...more

Akin Gump Strauss Hauer & Feld LLP

Issues to Consider when Evaluating Cyber Coverage in Light of the CCPA and Other State Privacy Laws

With the expansion of privacy legislation—from the General Data Protection Regulation (GDPR) in Europe to the coming California Consumer Privacy Act (CCPA) in the United States—cyber liability insurance is taking on increased...more

Woods Rogers

Cyber Liability Insurance For Small To Medium Size Businesses – Are You Covered?

Woods Rogers on

Today, it seems hardly a month passes without a report of another business falling victim to a data breach. Over the past few years, some of the largest and well-known companies such as Equifax, Target, Home Depot, TJ Maxx,...more

Pillsbury - Policyholder Pulse blog

As Investment in ESports Grows, Insurance Coverage Must Keep Up

Packed stadiums? Check. Players and teams with huge followings? Check. Massive social media appeal? Check. But here, the events that spectators are so eager to attend aren’t live basketball or football games....more

Foley & Lardner LLP

Even Insurance Will Be Disrupted by Autonomous Vehicles

Foley & Lardner LLP on

There are long lists of industries that will be disrupted by Autonomous Vehicles. Not surprisingly, Insurance is expected to be one of them. Some see tremendous opportunities arising from the increase in Autonomous Vehicles....more

Robinson+Cole Data Privacy + Security Insider

The Tricky World of Cyberliability Insurance

2018 was the year of hearing from clients that they are convinced that they “have cyberliability insurance” to finding out that they really don’t have the coverage that they need for the most common cyber risks....more

Lowndes

Don’t Expect Commercial General Liability Insurance Policies to Protect Against Cyber Breach or Crime

Lowndes on

Almost a year after Middle District Judge Mary Scriven’s instructive decision in Innovak Int’l, Inc. v. Hanover Ins. Co. in which she declined to hold that a traditional commercial general liability (CGL) policy, as drafted,...more

Robinson+Cole Data Privacy + Security Insider

Will Insurance Provide Coverage for GDPR Fines?

As many of our readers know, the General Data Protection Regulation (GDPR) imposes significant obligations and responsibilities on entities with regard to data protection and privacy for all individuals within the European...more

K&L Gates LLP

OnRisk: Biometric Insurance

K&L Gates LLP on

Issues of digital privacy are multi-faceted and extend far beyond the now-routine data breaches that make headlines. The digital collection, use, and storage of biometric information (fingerprints, retinal or iris scans,...more

Bradley Arant Boult Cummings LLP

Coverage for Fully Autonomous Vehicles under the Business Auto Coverage Form

With the potential addition of autonomous cars and trucks to commercial fleets, commercial insureds should reassess coverage under their commercial auto, products liability, and cyber insurance policies. Automation,...more

Pillsbury - Policyholder Pulse blog

Artificial Intelligence: A Grayish Area for Insurance Coverage

Artificial Intelligence (AI) is a hot topic in industries from manufacturing to the medical profession. Developments in the last ten years have delivered AI technology, once a fiction reserved for the movies, to private...more

Jones Day

The Road to Autonomous Vehicles: Insurance Implications

Jones Day on

As autonomous vehicles move toward mass implementation, businesses in this industry segment are studying product liability questions that will arise, some of which are likely to be distinctly different in character from the...more

Carlton Fields

Defining the Contours of Cyber Coverage for Data Breach: a Warning in Arizona

Carlton Fields on

A year ago in this space, we looked at the receding wave of coverage litigation regarding whether various cyber-related exposures were covered under traditional policies, such as CGL and professional liability policies. ...more

Proskauer - The Capital Commitment

6 Questions PE Sponsors Must Ask About Their GPL Policies

Private equity fund sponsors are facing increased litigation risk from regulators and private parties, including limited partners and stakeholders in portfolio companies. As a result, private equity firms should re-examine...more

Perkins Coie

Make Your Insurance Policies List and Check It Twice

Perkins Coie on

As the holidays rapidly approach, it is a perfect time for retailers to review their insurance policies and understand the extent of their coverage. Seasonal hires, new products and revisions in services may expose retailers...more

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