News & Analysis as of

Cyber Insurance Phishing Scams

Integreon

Best Practices for Reducing the Cost of a Cyber Incident for Small to Mid-Sized Businesses

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Originally published in American Business Magazine - May 2024. Many small- and mid-sized business owners believe that they are not prime targets for a cyber breach and that threat actors only go after large companies. This...more

Ward and Smith, P.A.

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

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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

Butler Snow LLP

Cybersecurity: What Businesses Need to Know

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Cybersecurity is a top concern for all industries, particularly for the pharmaceutical and medical device industries. These industries hold some of the most sensitive data and highly valuable technology, making them prime...more

Woodruff Sawyer

Cyber Insurance Requirements: The Next Frontier

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Cyber insurance buyers can expect stricter underwriting standards in the face of evolving cyberattacks. Cybercriminals are bypassing existing layers of security using advanced tactics and continuously adapting their...more

Genova Burns LLC

Potential Harm Enough For Class Action to Proceed in Data Breach Litigation

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The Third Circuit Court of Appeals has given new life to a putative class action suit led by a former employee of a company that suffered a ransomware attack, leading to her sensitive information being released onto the Dark...more

Woodruff Sawyer

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

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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

Bilzin Sumberg

Cyber Insurance Policies May Not Cover Phishing Attack Funds Diversion

Bilzin Sumberg on

The Eleventh Circuit Court of Appeals is considering an appeal from the United States District Court for the Middle District of Florida , in which the District Court ruled that a cyber insurance policy did not cover diversion...more

Miller Nash LLP

An Alaska Court Goes Fishing for Insurance, Hooking Another Policyholder Win in a Phishing Scam Case

Miller Nash LLP on

As an update to our March 8, 2022 blog post discussing coverage for phishing scams in the context of Ernst & Haas Mgt. Co. v. Hiscox, Inc., 23 F.4th 1195 (9th Cir. 2022), a new Alaska case relied on Ernst & Haas to find...more

Ervin Cohen & Jessup LLP

Does your Insurance Policy Protect you from Email Spoofing?

Your CFO or accounts payable clerk receives a legitimate-looking email supposedly from the company’s president authorizing a wire transfer to a vendor or business partner. In reliance on that email, the company’s bank is...more

Woodruff Sawyer

Ransomware Attacks Continue to Cause More Underwriter Scrutiny

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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

Health Care Compliance Association (HCCA)

Compliance Refresher: Get Cozy With IT Folks, Review Insurance, Fine-Tune Policies, Training

Report on Patient Privacy 21, no. 11 (November, 2021) - Attorney Brad Hammer doesn’t always don a suit and tie, or what he calls his “lawyer’s uniform.” A privacy and security expert and founder of the Vakaris Group based...more

Womble Bond Dickinson

Hacking Is Changing: Should Our Data Security Change?

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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

Hinshaw & Culbertson - Insights for Insurers

$6 Million Phishing Loss Does not Trigger Coverage Under Crime Policies

A federal district court in Dallas, Texas has held that an insured's commercial crime policies were not triggered by a $6 million phishing loss where the insured did not "hold" the stolen funds. The case is RealPage Inc. v....more

Bracewell LLP

Does Work-From-Home Work for Your Company's Cyber Insurance?

Bracewell LLP on

The start of a new year is always a good reminder to take some time to review key areas and assess whether changes are in order. There are many examples of this both personally and professionally, but a company’s insurance...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

Bennett Jones LLP

Seven New Appeals Will Be Heard by the Supreme Court of Canada

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Although the Supreme Court has suspended hearing appeals, the Court continues to issue judgments both on appeals and applications for leave to appeal. Hearings scheduled for March, April and May were adjourned on March 25,...more

Robins Kaplan LLP

The Effect Of Coronavirus (COVID-19) On Directors And Officers (D&O) Insurance (UPDATED)

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Coronaviruses represent a large family of viruses that can cause respiratory illnesses. The 2003 Severe Acute Respiratory Syndrome (SARS) epidemic in China represented the first severe virus that resulted from a coronavirus,...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

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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

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